The development of pharmaceutical drugs is a long and costly process. Companies in the pharmaceutical and biotechnology industries typically spend more than $1 billion to bring a drug to market, in a process that often lasts over 10 - 15 years. Artificial intelligence, particularly machine learning and deep learning algorithms, can help address issues of cost and time when applied to the drug development process.
An area in which AI is seeing significant interest and progress is drug discovery, a subset of the drug development process. As far, companies have demonstrated time reductions from years down to months, which is also reflected in cost reductions. With the pandemic prompting not only the need to discover drugs faster but also for new ways to work, AI in drug discovery companies have seen record amounts of funding raised in 2020.
Attendees will learn:
- Roles and values of AI in drug discovery
- Drivers and constraints of applying AI in drug discovery
- Progress of AI in virtual hit screening
- Market landscape
- COVID-19 and outlook