The high cost and time-consuming nature of drug development and the inefficiency of R&D in biopharmaceutical companies have long been deep-rooted pain points in the pharmaceutical industry. However, with the convergence of AI and pharmaceutical industry in recent years, AI has been found to help pharmaceutical companies optimize their development processes and significantly reduce R&D costs. According to a LEK survey of pharmaceutical industry executives, AI will become standard in the operating models of pharmaceutical companies within the next five to ten years. So far, the world's top 10 leading pharmaceutical companies have established partnerships with AI companies, eager to prioritize the market opportunities presented by the development of AI technology.
Pharmacube is a leading one-stop pharmaceutical data service platform in China, providing professional data, media information and consulting services for pharmaceutical companies and investment institutions. Pharmacube collects, cleans, transforms, and integrates massive global pharmaceutical-related data in real time, while combining AI technologies such as natural language processing (NLP) and machine learning, gradually building an agile big data system from data monitoring, data mining to data application.
During Parmcube's residency at Microsoft's AI Co-Innovation Lab, we leveraged Azure Form Recognizer and Azure Text analytics for Health to help Pharmacube achieve ultra-accurate standardized storage of sales data extraction for drug fiscal year report (SSS) and ultra-high matching World Clinical Trial Indication Recognition & Dictionary Matching (WORD), further allowed Pharmacube to expand the depth of its pharmaceutical data mining.