Generative AI in the pharmaceutical industry | McKinsey

Accelerated drug discovery. More efficient clinical trials. Quicker regulatory approvals. Ultratargeted marketing materials generated in-house. Generative AI is transforming nearly all aspects of the pharmaceutical industry, revamping the way companies operate and potentially unlocking billions of dollars in value. The McKinsey Global Institute (MGI) has estimated that the technology could generate $60 billion to $110 billion a year in economic value for the pharma and medical-product industries (Exhibit 1), largely because it can boost productivity by accelerating the process of identifying compounds for possible new drugs, speeding their development and approval, and improving the way they are marketed. This report is a collaborative effort by Bhavik Shah, Chaitanya Adabala Viswa, Delphine Zurkiya, Eoin Leydon, and Joachim Bleys, representing views from McKinsey’s Life Sciences Practice and QuantumBlack, AI by McKinsey. Pharmaceutical companies, of course, have long been in the vangu

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