This McKinsey report, "Generative AI in the pharmaceutical industry: Moving from hype to reality," explores how Generative AI (Gen AI) offers a monumental opportunity for the pharmaceutical sector, potentially unlocking billions in value by accelerating various processes, from drug discovery and clinical trials to regulatory approvals and marketing.
The article delineates specific use cases across five key domains: research and early discovery, clinical development, operations, commercial, and medical affairs, each with estimated economic impacts.
Beyond the immediate benefits, the report stresses that successful integration of Gen AI necessitates a strategic shift in organisational structure, processes, data management, talent development, and change management, advising companies to move beyond initial hype to a scalable, integrated approach while carefully mitigating risks like inaccuracy, intellectual property infringement, and regulatory compliance.