21/06/2023
Biotechnology
In the current scenario, one of the popular fields within any industry is Artificial Intelligence (AI). We can see how businesses today are adopting AI and Machine Learning (ML). This will ultimately lead to impressive growth in the upcoming years. According to research, the global AI market is projected to generate $89.8 billion in annual revenue by 2025. In this case, the life science sector is not an exception. Skilled people in the industry will be required and this will open up opportunities for new biotech jobs and pharma jobs.
“AI is in a ‘golden age’ and solving problems that were once in the realm of sci-fi.”
-Jeff Bezos
How is the biotech industry making use of AI?
Innovation is fueling the growth of businesses at a rapid speed. This is not hidden from the industry. Biotech and AI are two separate technology sectors that combined can prove to be a stronger one. These two sectors can tackle the global health issue and address environmental challenges. The amount of $15.7 trillion is estimated by PricewaterhouseCoopers for the contribution of AI towards global output by 2030.
Following this, we will see how AI can be used within the Biotech sector which is of different types including:
1. Agricultural Biotech
Biotech companies are making use of autonomous robots to carry out activities at a faster pace. They are using ML algorithms to predict the weather, which is an interesting factor observed. This gives them the extra time to take appropriate precautions.
2. Industrial Biotech
AI facilitates effective production and maintains high quality. It helps in the optimization of equipment and in creating an ideal molecular design. They are using AI to grow strains and test whether they are targeting the right chemicals or not.
3. Animal Biotech
They use AI to analyse and annotate genomic sequences in animal breeding.
4. Medical Biotech
The drug discovery process incorporates AI applications. Also, radiology, the management of medication, gene editing, and many other areas use AI.
5. Bioinformatics
In this particular area, there are large data pools. AI can handle large data pools. Also, other application wherein this technology can be utilised includes,
-
classification of proteins,
-
study of gene expression,
-
genome annotation, where automation is required to locate genes.
So, we can understand how AI has main applications. These span the chain of processes involved in biotech firms. This includes research & development to post-market surveillance.
Popular AI-Biotech jobs
Big Data Engineer, Business Intelligence Developer, Data Scientist, Machine Learning Engineer, Research Scientist, AI Data Analyst, Product Manager, Robotics Scientist
How is the pharmaceutical industry making use of AI?
The pharma sector is experiencing a major impact from AI. It is already being used by pharma companies in their operations and there are several pharma jobs open for AI-specific roles. The pharmaceutical business has benefited from the development of this cutting-edge technology.
Let’s have a look at how AI is currently being used in the pharma sector.
AI in drug discovery
AI plays an important role in the identification and validation of pharmacological targets. It aids in identifying biomarkers and developing multi-target drugs.
AI in disease prevention
According to the reports by Global Genes, 95% of rare diseases do not have proper medication. AI is helping the treatment of rare diseases.
AI in diagnosis
Healthcare professionals are using Electronic Medical Records (EMR) across the globe. AI is making it easier to analyse large amounts of data and this helps to speed up the diagnostic process.
AI in the prediction of an epidemic
AI can predict the results of a population. It analyses the report. Including results based on geographical, environmental, and biological factors of the population. This helps them interpret the possibility of a future epidemic.
An example of this is the ML-based malaria outbreak prediction model.
-
AI in clinical trials – AI monitors the performance of a drug and evaluates the responses. This will speed up the clinical trial process which is usually based on human intelligence.
-
AI in drug dosage – During clinical trials, AI carries out patient monitoring. This helps analyse the accurate amount of dosage required and ensures the safety of the drug.
Lack of Adoption within the Biotech Industry
Now, the question is if AI has applications within the industry then why not all the companies are using this technology?
AI involves the use of computer systems to perform tasks that usually need human intelligence. Some companies are hesitant to change. They are still inclined towards traditional business models. They fail to understand how AI can benefit them in various ways, such as:
-
Providing ease in the collection and processing of medical information
-
Managing cost and time
-
Management of data
-
Presenting the results
-
Better decision making
In other cases, some companies are unfamiliar with the technology. Another obstacle is a lack of IT infrastructure required for integrating AI into their process can pose challenges.
Industry Leaders Implementing AI
Many pharmaceutical companies implementing AI technologies are planning to grow them further. Here are some of the best pharmaceutical companies to work for:
Pfizer, Novartis, Roche, Johnson & Johnson, MSD, Sanofi, Abbvie, GSK, and Gilead Sciences.
Popular AI-pharma jobs
AI Developer, AI Architect, Machine Learning Engineer, Data Analyst, Data Scientist
Biotechnology Strategies for the Future
Around 50% of healthcare companies plan to adopt AI within their strategies by 2025. There is no limit to which AI can transform the biotech and pharma industries. AI, with a promising future, is ready to take over. So, companies have to start implementing AI to explore new avenues for drug discovery. This includes improving the efficacy of medical operations and maintaining R&D while keeping costs low. The industry needs to make smart decisions. This will advance the business while providing quality treatment to patients.
