The AI in Business Podcast How Cloud Computing and AI are Shaping Life Sciences - with Pranav Joshi of Merck
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Dec 31, 2024 Pranav Joshi, Global Head of Experience, Design Strategy, and Engagement at Merck, shares his expertise on how technology is revolutionizing life sciences. He discusses the impact of cloud computing and AI on drug discovery, emphasizing faster delivery to patients. Pranav highlights the need for collaboration among stakeholders to enhance healthcare efficiency. He also explores the transformative potential of creating a 'digital country' for pharmaceuticals, improving processes like drug approval and patient education, all while navigating compliance challenges.
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Startups vs. Giants
- Five small pharmaceutical startups made $240 billion in five years, while five large companies lost $80 billion.
- This shift is driven by technology, especially automation and generative AI, enabling smaller players to compete.
mRNA and Accelerated Drug Discovery
- mRNA technology, driven by necessity during COVID, has accelerated drug discovery and development.
- This, combined with AI and increased connectivity, allows faster identification and testing of treatments.
AI as a Central Brain
- AI acts as a central brain connecting different aspects of the pharmaceutical industry.
- Like a mother anticipating her children's needs, AI coordinates supply chain, molecule design, patient care, and doctor input.