Artificial Intelligence is redefining the way work is done in large corporations. With innovations in AI happening at a rapid pace, it will definitely be the technological zeitgeist in the near future. The advancements in AI has spread across all the business domains with pharmaceutical companies lately catching up in the race. In this article, we present the top five AI companies that assist in developing solutions for the ever-growing drug industry. The companies are listed in alphabetical order.
Indegene is an Information Technology and Services company that assists healthcare organisations using analytics and technology. Its core agenda to its client companies are cost cutting solution for healthcare and customer engagement. The customer base for Indegene covers life science organisations, biotech companies, medical device manufacturers and similar divisions in the healthcare sector. As part of its innovation, Indegene slowly is using the potential of AI and Machine Learning (ML) to mainly address drug safety. Technically, AI would help reinforce traditional pharmacovigilance systems, with human intervention in between to supervise safety. The company has also tied up with tech titan Microsoft to come up with full stack solutions using their cloud platform Azure to enhance customer relationship management (CRM) with analytics.
2. Intuition Systems
This Bengaluru-based startup which develops point-of-sale(POS) and billing systems using AI and ML, has collaborated with Lantern Pharma, a biopharmaceutical company which uses precision oncology to treat cancer and its related diseases. With cancer being harder to detect and treat at initial stages, Lantern aims to alleviate this problem using its advanced genomics and AI for improved drug development. Intuition Systems will work with Lantern’s team to help with AI, big data, cloud services and infrastructure to support drug development and biomarker identification. Similarly, Intuition will offer its AI-services to other pharmaceutical companies to fulfill technological needs. The POS systems brought out by the company is proprietary which primarily serves retail sectors.
A tech company with AI and ML as its core services, Innoplexus helps customers from life science and pharmaceutical sectors make critical business level decisions using public and private relevant data to generate insights. It aims at cutting drug development costs by mainly using AI. Based in Frankfurt – Germany, Innoplexus has domestic operations in India with corporate offices in Pune. Notably, the company has a trademark product called the iPlexus — a cloud database consisting of scientific research data obtained from clinical trials, major patent offices, forums, regulatory bodies and other genuine sources.
RxPrism is a digital healthcare marketing company which focuses on providing solutions specifically to pharmaceutical and life sciences organisations. With Bengaluru as its headquarters, the company extends support to even customers such as physicians, patients and health insurance providers. In its latest development, it has come up with an innovative AI solution which is powered by Amazon’s Alexa. The solution mainly brings all the applications, software and documents of pharmaceutical companies under one roof. This makes it easier to interact with people hands-free such as between a doctor and patient or between a researcher and reviewer. This will enable much more convenience on board.
5. Tricog Health
Tricog Health Services Pvt. Ltd., is a healthcare startup which offers services such as electrocardiography(ECG) solutions using artificial intelligence. Founded in 2014, it has its office in Bengaluru with close to 50 employees working for the case. The company identifies itself as a medical device manufacturer with a focus on ML to aggressively tackle heart related diseases and their drug development in India. Apart from ML, it also offers solutions such as web/app development, signal processing among others.
With other business sectors rapidly benefitting from AI and ML, the avenue for pharmaceutical and healthcare companies is catching up. AI will certainly speed up diagnosis and help medical professionals to understand diseases better and faster. In addition, AI is also consolidating research work which is a boon to scientists since it eliminates time constraints and helps them come up with safe and effective drugs.
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I research and cover latest happenings in data science. My fervent interests are in latest technology and humor/comedy (an odd combination!). When I'm not busy reading on these subjects, you'll find me watching movies or playing badminton.