While it’s widely accepted that the pharma industry is innovative in R&D, it is also true that it can be slow at embracing technological revolutions. Many people have criticized pharma companies for being slow to adopt AI. Indeed, some CEOs I talk to are concerned about too widely adopting AI, citing fears of unknown threats.
But as the CEO of Sanofi, I don’t believe those challenges should guide our thinking or adoption of AI in the pharma business, as AI has the potential to improve and reinvent the way our business operates. AI impacts the way we exchange information by connecting different business units and functions that may have been operating independently in real time. The exchange of data in real time greatly accelerates and enhances the business operations.
But we have to be thoughtful about how we use AI. While some see AI adoption as a way to improve efficiency — for example, through the acceleration and automation of repetitive tasks — I think its real promise lies in insights and better decision intelligence, which will translate into better medicines, quicker, for the right patients, ultimately improving people’s lives.