There is a lot of research being done in the pharmaceutical industry. BenevolentAI say there's a new research paper being published every 30 seconds. They argue this information is not being used in a smart way for the discovery and development of new drugs.
To tackle this problem, BenevolentAI uses artificial intelligence to analyse biomedical information, from clinical trials data to academic papers. They can then identify molecules that have failed in clinical trials and predict how these same compounds can instead be more efficient targeting other diseases.
They argue this approach can dramatically accelerate the discovery of new drugs. They've collaborated with large pharma companies like AstraZeneca and Johnson & Johnson subsidiary Janssen Pharmaceutica. A SPAC merger of 1.5 billion euros included AstraZeneca as an investor and will help BenevolentAI accelerate product development.
It's a big market, with Global Market Insights estimating the global healthcare AI market will exceed $10 billion by 2024. This gives them a big opportunity, but it won't be an easy problem to tackle.
Steph
Company Specialist at Welcome to the Jungle