ANIL KANE
Thermo Fisher Scientific

Over the past few years, Artificial Intelligence (AI) has been one of the most sought-after technologies of interest by an array of industries, and investment is underway to evaluate its applications. The innovation brought about by new developments in the areas of AI and machine learning is nothing short of spectacular. Solutions based on AI algorithms are finding applications in many areas. A recent study by Yale, surveying 200 chief executives, revealed that nearly half (48%) see healthcare as the primary sector to undergo major changes due to AI advancements (1). Across industries, 73 percent of U.S. companies have already adopted AI in at least some areas of their business, according to a 2023 Emerging Technology Survey (2) conducted by PwC — and generative AI (GenAI) is leading the way. In 2024, AI will start to fundamentally change how business gets done. It will impact how companies grow revenue, conduct everyday operations, engage customers and employees, build new business models, and more. The right AI choices will provide companies a significant edge (3).

The pharmaceutical industry is a recent beneficiary of the trend. The pharmaceutical ...