Pascal Soriot, chief executive officer of AstraZeneca, told CNBC in an interview that artificial intelligence (AI) is already producing tangible results in drug development and is making the discovery and R&D process for new medicines faster and more efficient.
According to Soriot, the primary value of AI in the sector lies in increasing productivity. The technology can accelerate identification of new drug targets and optimize molecular design. He cited the ability of AI to filter out potential side effects early in development as an example of how it can reduce the risk of costly failures later in the pipeline.
AstraZeneca has partnered with Tempus AI to develop a tool that jointly analyses clinical and laboratory data to predict the probability of success for Phase III clinical trials. That capability is particularly valuable because a single Phase III trial can cost between $300 million and $500 million, so improving success rates can produce substantial savings.
Soriot’s remarks came at a time when investors are increasingly questioning the returns on large technology investments in healthcare. He said AstraZeneca’s AI initiatives have moved beyond mere promises and found practical applications across multiple areas of drug research.
This article does not constitute investment advice or a recommendation.
