Age of AI: Conference Takeaways

July 10, 2024

Written by Sana Siddiqui, Vice-President, Healthcare

Who isn’t talking about AI these days? From tech enthusiasts to industry leaders, AI is at the forefront of many conversations, and for good reason. Recently, I had the privilege of attending the “Age of AI” conference by Pharma Brands, where experts from across the pharmaceutical industry gathered to discuss the transformative potential of AI. The discussions were rich and varied, providing a glimpse into the future of AI in healthcare and its far-reaching implications. Here are some of the insights from the conference that I found really interesting.

AI’s Transformative Impact on Healthcare

AI is set to revolutionize healthcare by reducing clinician burnout and increasing patient-centricity. AI investments in platforms like YouTube and wearables such as Fitbit enhance health sensing, personalization, and patient engagement, helping patients make informed decisions and take actionable steps toward better health.

Generative AI and Artificial General Intelligence

Generative AI (GenAI) and Artificial General Intelligence (AGI) were hot topics at the conference. Experts predict that AGI, which will be as capable as a human, could be achieved by 2031/2032. This advancement, while exciting, comes with the challenge of ensuring that the widespread availability of AI tools is used strategically to maintain a competitive edge. The commoditization of AI and large language models (LLMs) means that everyone will have access to advanced tools. Imagine a future where your AI assistant is as intelligent as you (or smarter). The key discussion here was about ensuring that the use of AI tools is strategic in order to gain a competitive advantage.

Strategic Implementation of AI in Pharma

Pharma companies, such as Moderna, are leading the way in strategically implementing AI. Moderna has provided its entire workforce access to AI tools like OpenAI, redesigned processes, and aimed to use AI to perform the work of 60% of its workforce. The key takeaway is the strategic use of AI to augment employees, automate workflows, innovate products, reduce costs, expand distribution, and differentiate brands. This strategic implementation is essential for leveraging AI’s full potential in the pharmaceutical industry.

Challenges in AI Adoption and Governance

The conference highlighted several challenges in AI adoption, particularly regarding data security, biases, and regulatory compliance. Responsible AI governance is critical, involving the development of AI principles, compliance with regulations, and ensuring the ethical use of AI.

In addition, building public trust in AI-driven healthcare is paramount. Transparency and good communication are vital in gaining this trust. The conference emphasized the importance of adopting the three pillars of trust: ability, benevolence, and integrity. By being transparent about AI activities and demonstrating the benefits, companies can build a strong foundation of trust with the public.

Revolutionizing Pharma Marketing with AI

AI is transforming pharma marketing by automating content creation and optimizing strategies. Companies like Takeda and GSK are effectively integrating AI to cut costs, generate creative materials, analyze data, and optimize sales plans. This not only improves efficiency but also enhances the quality of marketing efforts. The integration of AI in marketing strategies has the potential to be a game-changer for the pharmaceutical industry.

AI’s Role in Medical Decision-Making

AI can assist in complex medical decision-making by processing vast amounts of data to aid diagnosis, prognosis, and treatment. This reduces the likelihood of patient harm and addresses unconscious biases in healthcare data. Public-private partnerships are necessary to co-create responsible AI solutions and establish clear regulations, ensuring that AI is used effectively and ethically in medical decision-making.

Regulatory and Ethical Considerations

The conference underscored the importance of addressing legal and ethical issues related to AI, such as intellectual property, copyright, and human rights. Regulations and guidelines are essential to ensure responsible AI deployment. Collaboration between the public and private sectors is crucial to developing and implementing these regulations effectively. The discussions highlighted the need for comprehensive policies to prevent biases and ensure transparency in AI applications.

Practical AI Applications in Pharma

Practical steps for using AI in various tasks were outlined, from idea generation to marketing optimization. Companies should explore integrated and stand-alone AI tools to enhance efficiency and creativity. The right human expertise and domain knowledge are essential for effectively leveraging these AI tools, ensuring they provide meaningful and impactful results, as even the smartest AI needs a little human touch to truly shine. Examples included using AI for predictive analytics in clinical trials, optimizing supply chains, and enhancing patient engagement through personalized communication.

The “Age of AI” conference provided invaluable insights into the transformative potential of AI in the pharmaceutical industry. From strategic implementation to addressing challenges in adoption and governance, the discussions highlighted the importance of responsible and strategic use of AI. As we move forward, staying informed and embracing AI’s potential to revolutionize healthcare, enhance marketing strategies, and build public trust is crucial. The future of AI in pharma is promising, and with the right approach, it can lead to significant advancements and improvements in healthcare delivery and patient outcomes.

Related Posts

LCBO Strike

From July 12 to July 14, 2024, we surveyed Ontarians to learn their opinions of the LCBO strike.  Key highlights of our survey include… A vast majority of Ontarians (89%) have heard of the ongoing strike at the LCBO. Ontarians aged 55 or older (97%) are more likely to...

Summer Olympics

From July 12 to July 14, 2024, we surveyed Canadians to find out their opinions on the upcoming summer Olympics and on their overall perceptions of the Olympics games. Some of the key highlights of our survey on the Olympics include…​ Eight out of ten Canadians (79%)...

Leger Continues to Grow with Strategic Hires and Promotions

Montreal, July 10, 2024 – Leger is continuing its growth in Western Canada and in its business development department. We are excited to announce the arrival of Dr. Lana Porter, PhD as Senior Vice-President in Vancouver, and the promotions of Mickael Lavergne and Mike...

Justin Trudeau’s Political Future

From June 28 to June 30, 2024, we surveyed Canadians to learn their opinions and perceptions of Trudeau’s leadership.  Key highlights of our survey include… Three out of five Canadians (63%) disapprove of Justin Trudeau's performance as Prime Minister, while around...

LCBO Strike

LCBO Strike

From July 12 to July 14, 2024, we surveyed Ontarians to learn their opinions of the LCBO...

Summer Olympics

Summer Olympics

From July 12 to July 14, 2024, we surveyed Canadians to find out their opinions on the...

Get the latest in your inbox

Stay up to date on cutting-edge research, news and more.