Harnessing of advanced technologies such as AI and Machine Learning will be beneficial in processing huge amounts of huge data, according to Deepak Sapra, CEO - API & Services - Dr. Reddy Laboratories.
Delivering the keynote address in a summit on Navigating Digital Transformation in Engineering and Manufacturing, Sapra said the drug discovery process was a long process spread over 10 to 15 years with an expenditure close to two billion dollars while the rate of success was not more than 30 percent.
“The only few ways to address these challenges are Innovation and collaboration powered by technology Our healthcare lies in our mobile phones. It transforms a large diagnostic lab into our palm which is always with you and follows you like your shadow,” he said. Sunil Savaram, Founder and CEO of Plural Technology said percent of profits being spent on R&D in India was only 0.8 percent as against 5.2 percent spent by South Korea.
(Reported by bl intern Ramit Mehrotra)