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Assessing the Impact of AI: The Case of the Pharmaceutical Industry

Author

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  • Tara Rakočević
  • Milivoj Markovic

Abstract

The pharmaceutical industry is on the cusp of a transformative era with the advent of Artificial Intelligence (AI). This paper delves into the multifaceted implications of AI in the pharmaceutical sector, encompassing aspects from manufacturing process improvements to drug discovery and personalized medicine. It explores AI’s role in reshaping business models, enhancing efficiency, and overcoming traditional challenges in drug development. Additionally, the paper addresses the challenges in adopting AI, such as the need for advanced IT infrastructure and handling unstructured data, underlining the potential of AI to revolutionize pharmaceutical practices.

Suggested Citation

  • Tara Rakočević & Milivoj Markovic, 2024. "Assessing the Impact of AI: The Case of the Pharmaceutical Industry," European Journal of Business and Management Research, European Open Science, vol. 9(5), pages 70-75, September.
    • Handle: RePEc:epw:ejbmr0:v:9:y:2024:i:5:id:52461
    DOI: 10.24018/ejbmr.2024.9.5.2461
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