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Google has introduced new artificial intelligence tools that will help biotech companies speed up the process of making drugs.

One of these tools is called Target and Lead Identification Suite, which can understand and recognize the structure of proteins, which is very important in drug development. The next tool is the Multiomics Suite, which will help researchers store, analyze and share more genome data.

Google has been able to maintain its competition with other companies by providing new artificial intelligence tools. The value of the artificial intelligence market is expected to reach several trillion dollars in the coming years, and therefore most companies are trying to develop their capabilities in this field. Google was under a lot of pressure to show its generative AI capabilities after the introduction of ChatGPT artificial intelligence platform by OpenAI.

The company introduced its own artificial intelligence chatbot, Bard, in February, and last week unveiled several new AI tools at its annual developer conference, sending Alphabet’s stock up 4.3%.

Two new artificial intelligence tools from Google will help to solve the main problem of the American pharmaceutical industry, which is the long and expensive process of introducing a new drug. According to a new report, pharmaceutical companies spend anywhere from a few hundred million dollars to more than $2 billion to bring a new drug to market, and these efforts are not always successful. Medicines that reach the stage of clinical trials have only a 16% chance of receiving approval from the American pharmaceutical organizations. In addition, the research process on a new drug usually takes 10 to 15 years.

In this regard, the manager of Google’s scientific solutions has said that the company’s new artificial intelligence tools will significantly save pharmaceutical companies time and money. Google’s goal is to help pharmaceutical companies get drugs to people faster. These tools are available for Google customers since yesterday and their cost will depend on different companies. Some American companies such as Pfizer, Cerevel Therapeutics and Colossal Biosciences are already using these tools.

In any case, we have to wait and see how successful these tools will be in speeding up the process of making drugs.

Source: CNBC