Generative AI in life sciences: staging a renaissance of biomedical discovery

Generative AI in life sciences: staging a renaissance of biomedical discovery

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Find out how to integrate generative AI into your workflows
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Discover the AI’s impact on the pharmaceutical industry
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Explore AI use cases for life science organizations
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Grasp the challenges inherent to the generative AI journey

Welcome to your ultimate guide to generative AI in pharma and life sciences

Explore our curated collection of materials and gain insights into the latest advancements in generative AI!

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In this whitepaper, you will find answers to

How can generative AI optimize drug discovery and development?
What are the potential cost savings and efficiency gains associated with the adoption of genAI?
Where do we see the most promising possibilities for the long-term integration of genAI?
How can generative AI help researchers design more effective clinical trials?

Key trends and opportunities

  • Generative AI can bring from $60 to $110 billion in annual economic value to pharma and medical technology companies.
    The McKinsey Global Institute
  • 75% of top healthcare firms are actively exploring or expanding their genAI implementation. 
    Deloitte Development LLC
  • The investment in AI-related hardware and software is forecast to rise from $13 billion in 2023 to $47 billion by 2028.
    Research and Markets
  • Healthcare AI attracted a massive $31.5 billion in equity funding over a three-year period.
    CB Insights

About Avenga

Avenga is a global engineer and tech consulting partner. In over two decades in the market, our team has successfully enabled digital transformation endeavors for the likes of IQVIA, Boehringer Ingelheim, GSK, EILEEN FISHER, AIA, and others.

We are a strategic partner with a proven track record and a global presence in Europe, the Americas, and Asia.

Generative AI in life sciences: staging a renaissance of biomedical discovery

The versatility of generative AI allows pharma companies to accelerate research and bring therapies to market faster. Read the whitepaper to create your AI integration strategy for pharma and life sciences.

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Frequently Asked Questions

Among other things, generative AI in life sciences can be used to design novel drug candidates with desired properties, analyze medical images for faster and more accurate diagnostics, and generate synthetic patient data for clinical trials to augment real-world data and improve model training.

Generative AI can improve patient care in several ways. For example, it can analyze large volumes of medical data and streamline administrative tasks. Moreover, AI-powered chatbots can provide patients with personalized health information and support.

New opportunities lie in generative AI for drug discovery platforms, which can design novel molecules and accelerate drug development; clinical trial optimization, using AI to improve trial design and analysis for faster approvals; and real-world evidence generation, where AI analyzes patient data to personalize treatment and improve outcomes.

One key challenge is the protection of the accuracy and reliability of AI-generated data, as errors could have significant consequences. Additionally, addressing ethical concerns, such as bias in AI algorithms and the potential misuse of AI-generated data, is crucial for responsible and equitable deployment of generative AI in the life sciences.

Organizations can find the talent needed to adopt generative AI solutions through several approaches: partnering with AI consultancies that have expertise in generative AI, upskilling existing employees through training programs on AI, and recruiting data scientists and Machine Learning engineers with experience in generative AI models.

We provide solutions that include user-friendly platforms and tools for model training, expert guidance on data preparation and model selection, and seamless integration of AI models into current processes.

Responsible AI is guided by a set of core principles that prioritize fairness, transparency, accountability, and safety. These principles emphasize the need for AI systems to be transparent and understandable, fair and unbiased, safe and secure, and accountable to humans.

Generative AI can speed up innovation and efficiency across the entire value chain in the life sciences industry. It empowers researchers with tools to analyze vast datasets, predict outcomes, and design novel therapies.