AI can cut drug discovery costs by 70%

Hyderabad: The potential of Artificial Intelligence in drug discovery suggests a 70 per cent reduction in costs, signifying a transformative impact on the economic aspects of drug development. Consequently, the global AI in drug discovery market is projected to reach an estimated value of $2.9945 billion by 2026, according to Dr Ratnakar Palakodeti, vice president of Persistent Systems.

As an expert speaker, Dr Palakodeti spoke about “How AI can help in Drug Repurposing,” at a workshop organised by The Federation of Asian Biotech Associations (FABA). The theme of the event is “Artificial Intelligence for Pharma and Biotech.” Scheduled from December 11-16, 2023, the workshop is being held in collaboration with Science Gurus, University of Hyderabad and World Trade Center Shamshabad.

Acknowledging the current challenges in ‘Drug Discovery and Development,’ Dr Palakodeti emphasised on the need for novel solutions to address hurdles. He further delved into a groundbreaking real-world example of AI-guided identification of repurposed drugs for leukemia.

This AI-based solution employs ML and considers molecular, physicochemical, biochemical, and pharmacological properties to predict the likelihood of a molecule becoming a successful drug candidate. He also highlight ed a comprehensive solution approach involving database preparation, AI/ML algorithm development, model training, and validation/testing. Dr Palakodeti unraveled the immense potential of AI in revolutionising drug repurposing cornerstones in the quest for innovative therapeutic solutions.