Pharma with 'AI friendly' executives will prosper: US, Germany, and Japan-based companies lead the pack, says report

By Melissa Fassbender contact

- Last updated on GMT

(Image: Getty/metamorworks)
(Image: Getty/metamorworks)

Related tags: Artificial intelligence, AI, Drug discovery, Clinical operations, Boehringer ingelheim, Sanofi, Bristol-myers squibb, Evotec

Boehringer Ingelheim, Sanofi, Bristol-Myers Squibb, and Evotec are among the top companies with “AI-friendly” CEOs, according to a report, which suggests that these businesses will prosper driven by a more effective application of AI.

“Biotech and pharma are in the midst of adopting AI with the end goal of reducing costs of drug development,"​ said Kayla Valdes, PhD, associate director, scientific programs, DIA.

Read more: Artificial intelligence in drug development predicted to grow: DIA-Tufts study

Deep Knowledge Analytics recently published the report based on its research of 50 pharma and tech corporations applying AI in advanced biomedicine. The report examines AI-Friendly CEOs and board members – an indication that a company is focused on increasing efficiency, according to the firm, which is the analytical subsidiary of the investment fund Deep Knowledge Ventures.

“We expect the presence of AI-friendly CEOs and board members to enable companies to outperform general market trends in the sector via a more effective and complex application of AI,”​ said Margaretta Colangelo, managing partner, Deep Knowledge Ventures.

“The application of AI is a new dimension that will be used to determine current and future market valuations of companies,”​ she told us.

(Image: Deep Knowledge Analytics)
(Image: Deep Knowledge Analytics)

Per the report, the location of AI-friendly CEOs and board members is concentrated in the US, Germany, and Japan. More specifically, the cities with the highest numbers are New York, San Francisco, Indianapolis, Ingelheim am Rhein, Basel, and Tokyo.

  • 54% of the AI leaders work in tech companies
  • 46% of the AI leaders work in pharma companies
  • 3% of the AI leaders have experience and education in both AI and drug development

The areas that hold the most promise are biomarker discovery and early-stage diagnostics with a focus on preventive medicine, Colangelo said. Drug discovery and data management are the areas growing the most.

(Image: Deep Knowledge Analytics)
(Image: Deep Knowledge Analytics)

The objective of the Deep Knowledge Analytics' report was to establish a benchmark which the company expects will correlate with market and investment prospects – with level of AI commitment serving as an indicator of market capitalization growth, said Colangelo.

“Pharma and health care corporations with AI friendly executives at the helm will prosper. AI-friendly CEOs and board members will demonstrate how the effective use of AI can increase a company's valuation,”​ she added. “Companies with AI-friendly executives will become much more valuable than their peer organizations.”

(Image: Deep Knowledge Analytics)
(Image: Deep Knowledge Analytics)

Colangelo said, “The use of AI by companies will become a standard component analyzed by fund managers to evaluate companies for investment.

“We expect to start seeing the impact of AI friendly CEOs and board members in 3-5 years depending on the type of corporation and the sector of its AI applications.”

Related news

Show more

Related products

show more

Vaccine Innovation in the Era of COVID19

Vaccine Innovation in the Era of COVID19

Covance Patient Safety | 01-Oct-2020 | Sponsored Link

During this time of worldwide crisis, there is an increasing demand for the acceleration of a vaccination for COVID19. Regardless of the great recent advancements...

What to consider when working with CRFs

What to consider when working with CRFs

Formedix | 21-Sep-2020 | Technical / White Paper

For a study to be successful, data collected must be correct and complete. To be correct and complete, forms must be well planned with meticulous attention...

Covance Touchless Drug and Device Vigilance Vision

Covance Touchless Drug and Device Vigilance Vision

Covance Patient Safety | 01-Sep-2020 | Data Sheet

Automation tools enable organizations to identify patterns in structured and unstructured data and facilitate automation of the entire product vigilance...

Lessons Learned: Clinical Trials During a Pandemic

Lessons Learned: Clinical Trials During a Pandemic

PCM TRIALS | 01-Sep-2020 | Technical / White Paper

In a recent survey of clinical trial professionals (including pharmaceutical sponsors, CROs, site representatives and vendors), respondents reported that...

Related suppliers

Follow us

Products

View more

Webinars