AI is no longer a future promise — it is already transforming drug discovery

Last week, HBI sat down with Chris Meier, Managing Director and Partner at Boston Consulting Group (BCG), an American global management consulting firm, to explore how AI is transforming drug discovery.

Bringing a new drug to market typically takes 12 to 15 years and costs upwards of $2.5 billion, with only a small percentage making it through clinical trials. But, as Meier explains, AI, particularly machine learning and deep learning, is beginning to rewrite that narrative. 

AI is accelerating development, reducing costs, and broadening the scope of treatable diseases.

In the past five years, AI has delivered real progress in two crucial areas: small molecule design and target discovery.

For small molecules, AI is helping identify and optimise compounds through chemical screening and generative design. On the target discovery side, AI tools like neural networks and graph models are combing through massive biological datasets to reveal patterns and validate new targets, work that would be near-impossible to do manually.

Drug repurposing is also gaining momentum, with AI uncovering new applications for existing compounds.

And what of investor interest?

According to another BCG report, AI-first biotech firms have attracted over $18 billion in funding over the past decade. Notably, a majority of capital is focused on disease understanding and small molecule development. 

Investment in vaccines and antibody research, by contrast, remains limited.

Still, strategic partnerships between big pharma and AI-driven biotechs are gaining ground, signalling just how seriously the sector is taking this shift.

AI is no longer a future promise. It is already reshaping drug discovery, particularly in small molecule development and target discovery. 

While traditional pharma can be slow to adapt due to legacy systems and data silos, AI-first companies are setting the pace. Interest and investment are rising steadily, and if practical hurdles can be overcome, AI has the potential to play a central role in drug development.

Click here to read the full interview. 

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