(CB Insights) – Testing new drugs is a slow, expensive, and manual process. Artificial intelligence has the potential to disrupt every stage of the clinical trials process — from matching eligible patients to studies to monitoring adherence and data collection.
The process is inefficient for other stakeholders too: drug trials average nearly a decade, costing up to billions of dollars. Many trials fail due to enrollment issues. The $65B clinical trials market needs a makeover.
Artificial intelligence is touted as the magic bullet for everything, and the technology could have huge potential for streamlining the clunky clinical trial process, from IoT for remote monitoring, to machine learning for EHR processing, to AI-based cybersecurity for data protection.