Enabling Technology for Trial and Error: cases in pharmaceutical and medical product industry

Abstract

The pharmaceutical and medical product (PMP) industry aims to contribute to human health. However, the environment surrounding the PMPs has dramatically changed in recent years — the increase of elderly populations that leads a shift in disease targets from acute to chronic ones, the increase of uncertainty and complexity of the research and development (R&D) of PMPs, resulting in the tremendous increase in R&D expenditure and the decrease in a success rate to produce an innovative PMP. Trial and error is recognized as a key solution to overcome these issues by uptaking key discoveries including serendipities in the R&D process and producing innovative technologies, products and services. The present article focuses on two exemplified cases in the PMP industry, an artificial intelligence (AI) technology utilised in the field of drug discovery and an information and communication technology (ICT) adopted to support medical practices. Thorough these observations we examined how ICT is implemented to support or alternate the trial and error in the operational process of PMPs. Based on these cases we further discussed the significance and future prospects of advanced technologies in the field of PMPs to achieve the abovementioned goals.