Artificial Intelligence in the Pharmaceutical and Healthcare Industry. Employment of AI within Bayer Pharmaceuticals

Seminar paper from the year 2021 in the subject Computer Sciences - Artificial Intelligence, grade: 1,0, , language: English, abstract: During the past years, a continuously increasing number of corporations have decided to adopt Artificial Intelligence (AI) systems to improve their efficiency and reduce costs. This research paper aims to analyse the rise, applications, and developments of AI in the pharmaceutical and healthcare industry. Specifically, the employment of AI within the German multinational Bayer Pharmaceuticals is discussed, and further implementation suggestions are outlined. Furthermore, current opportunities, such as epidemic outbreak predictions and image recognition platforms for medication ingestion tracking, and challenges, for example legal issues and ethical challenges, are examined. The future role of AI systems in the pharmaceutical and healthcare industry can hardly be anticipated. Nevertheless, thus far these systems have represented a unique and tremendous asset within societies and companies, and it is most likely that in the course of time their role will be of always greater importance. Nowadays, organizations are defined by higher complexity, changing client demands, increased competition and adoption of new technologies. On the path towards an increased digitalization of economies and societies, the management of information and of knowledge, and the way people connect, collaborate and learn are drastically changing. As more and more possibilities for disruptive change are offered by digitalization, individuals and organizations need to redesign their leadership, innovation, knowledge processes and information practices.