The biopharma industry is in crisis, demonstrated by unsustainable research and development (R&D) costs. In parallel, the healthcare system suffers from skyrocketing costs, driven by the prevalence of chronic diseases and increased life expectancy. Innovative technologies have the potential to alleviate challenges both in the biopharma R&D model and in healthcare. This chapter considers how Big Data analysis based on artificial intelligence and machine learning offer opportunities to drive greater efficiency across the entire R&D value chain, enhance the quality of assets produced, and improve the time and cost to bring products to market. We also consider the unique challenges that arise with the integration of these fields into healthcare and medicine, specifically, the initially high costs when new medical and healthcare technologies are brought to the marketplace; widening socioeconomic health inequalities due to high marketplace costs; and unique methodological challenges presented by cross industry innovation, research, development, and implementation.
Part of the book: Toward Super-Creativity