The Productivity Paradox: Can AI Fix Pharma’s R&D Crisis?
Despite a $145.5 billion investment in pharmaceutical R&D in 2023, US Federal Drug Administration novel drug approvals remain stagnant at around 43 annually, according to recent findings from Deloitte’s 14th Annual Pharmaceutical Innovation Report. The complexity of modern diseases, combined with rising development costs and regulatory requirements, demands a fundamental transformation in how we approach pharmaceutical R&D.
Join us for a discussion with Dr. Brendan Frey, Professor at the University of Toronto, Deep Genomics founder, and Vector Institute co-founder, to explore how AI and tech-sector approaches like open source collaboration and shared data platforms can reverse this productivity paradox.
Hosted by: Alexa Raad and Leslie Daigle.
Further reading:
- Deloitte’s 14th Annual Pharmaceutical Innovation Report: Pharma R&D Return on Investment Rebounds After Record Low
- Why Pharma Must Embrace AI and Open Source
- Accelerating clinical trials to improve biopharma R&D productivity
- Revolution, interrupted: Why AI has failed to live up to the hype in drug development
The views and opinions expressed in this program are our own and may not reflect the views or positions of our employers.
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