Clinical trials are smartening up to the potential of AI
Drug development often takes longer than a decade with average cost of $2.5 billion. Clinical trials are used to determine whether an experimental treatment works well and safe so that it can obtain market authorisation.
They are the longest and costliest part of drug development. A drug’s success can hinge solely on the design of its clinical trial program, which is another area in which AI can help to plot the best course. Artificial Intelligence (AI) has enormous potential in changing clinical trial design and processes which can increase likelihood of clinical trial success and create a lot of potential for young data scientists.
The rationale is that AI can be used to enhance the decision making process, taking into account far more data than are available to physicians via conventional means. The addition of machine learning (ML) algorithms enables the AI to become better over time, increasing the accuracy or timeliness of its recommendations.
The application of AI and ML techniques to the pharmaceutical industry would have impact to improve R&D productivity and sustaining the current pace of innovation. Leading pharma companies are almost universally detailing such digitalization initiatives in their investor-facing materials, showing that they are at the forefront of this vital industry trend.
At Risklick, we are utilizing artificial intelligence technology, and human science —to assist clinical trial designers analyse risk of their clinical trial in early stage. It helps clinical trial designers to optimize their protocols expeditiously and maximize likelihood of success. Adopting real world data and predictive algorithm, the tool is able to proactively identify obstacles and bugs in clinical trial design. Risklick will participate in SA Innovation Summit to connect with motivated entrepreneurs and talents to push the technology forward. Patients cannot wait!
*Get your tickets below and use the promo code ANA20 in order to receive a 20% discount on your tickets!