WASHINGTON DC- R&D efficiency that was related to the pharmaceutical field has declined to a stall as the clinical trial failure rates over 90%, and the cost to manufacture one new small unit of a drug to market now exceeds $2.5 billion. So, advancement in Artificial Intelligence Research and Development hold the potential to resolve these regular trends.
Brandon Allgood, CTO, and Founder of Numerate Inc stated that We are investing more create a major breakthrough in the application of machine learning, computational science including artificial intelligence that carries the potential to immensely improve the quality with continuous growth rates.
He also said that, Keeping in view to accelerate the adoption of AI in healthcare towards transparency and promote collaboration our key members of the AI community have come together forming a project where we collaborate and establish the Alliance for Artificial Intelligence in Healthcare (AAIH) that creates industry-wide research collaboration platform. The AAIH will strive to improvise data sharing and promote key research results to accelerate biomedical research and later on implement them on conducting desired tests.
Alex Zhavoronkov, CEO of Insilico Medicine mentioned that the main potential of Artificial Intelligence is to create a positive impact in all aspects of healthcare. The AAIH will be a key platform in driving public policy, appropriate regulation, and market access regarding the products developed by the AI in the healthcare industry. We are about to achieve success and potential elements of AI, that plays a crucial role in the sector organization that will enable efficient adoption, integration, and commercialization.