2024 forecast: Navigating new frontiers in pharma with AI, synthetic data, and strategic partnerships

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In late 2022, we published a series of predictions, which, among other things, projected that 2023 would be a “massive showcase” for machine learning (ML) in drug discovery and development. And in many ways, 2023 was a pivotal year for AI in pharma. This evolution in AI and ML applications in pharma built upon the groundwork laid in 2022, a year in which the pharma sector embraced digital components, dynamic clinical trial designs, and advanced data science initiatives related to radiomics. Now, the ongoing focus on ML for processing large volumes of molecular, biochemical, and genomic data continues to lay the groundwork for innovation in 2024.

The predictions for 2024 further emphasize the importance of data, in both structured and unstructured formats, while also touching on a range of other themes related to everything from pharma partnerships with virtual care providers to the challenges and s…

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