AI's EU Regulation and potential in Drug Discovery.

EU AI Regulations.

This week we examine AI’s EU Regulation and potential in Drug Discovery. In recent months, Europe moved a step closer to adopting rules governing the use of artificial intelligence. EU AI Regulations were endorsed and a political deal reached in December. The EU AI Regulations proposed by the European Commission three years ago, aim to set a global standard for a technology used in a vast swathe of industries and sectors.
Under the AI Act, unacceptable risks like emotion recognition technology in the workplace will not be allowed. Likewise, mandatory compliance will also be introduced to high risk areas such as health, recruitment and law enforcement .

AI Applications in Drug Discovery.

The emergence of generative AI (GenAI) has the potential to reform early-stage drug discovery.Moreover, this positions them as potential drug candidates. In addition, it has revolutionized various aspects of the drug development process.

Cost Savings

In conclusion, AI promises to potentially mitigate formidable costs and time constraints traditionally associated with drug discovery. Moreover,it could also unveil previously overlooked therapeutic possibilities. So, to achieve these benefits, though, pharmaceutical company leaders need to make sure they have a sound strategy. To implement and support the technology, the inevitable organizational change will need to be managed.

To learn more about AI’s EU Regulation and potential in Drug Discovery, please read the article in pdf below.

RTE-AI-regulation-and-EY-AI-for-Pharma-news-articles-Feb-2024-1

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References
RTE (2024) Europe within reach of landmark AI rules after nod from EU countries. Available at https://www.rte.ie/news/business/2024/0202/1430156-europe-within-reach-of-landmark-ai-rules/ (Accessed 06 February 2024).

Carroll, R., Anderson Jr, K.L. , (2024). ‘How pharma can benefit from using GenAI in drug discovery’. Ernst & Young Global Limited January 29. Available at: https://www.ey.com/en_us/life-sciences/how-pharma-can-benefit-from-using-genai-in-drug-discovery (Accessed 02 February 2024).

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