Sanofi SA (EPA: SAN) is in focus today after teaming up with OpenAI to deploy artificial intelligence for drug development.
What’s in it for Sanofi?
Working with the AI company will help Sanofi “go to market faster with our drugs” and address the unmet patient needs, as per Emmanuel Frenehard – executive vice president of the pharmaceutical behemoth.
The OpenAI partnership may also $SAN in terms of improving its operating profit.
The French multinational is committed to capitalising on artificial intelligence to “shorten the process from discovery all the way to development” of a drug, its executive vice president told CNBC on Tuesday.
Last month, Sanofi reported a near 15% hit to its quarterly profit – weakness that the giant headquartered in Paris attributed to currency headwinds and increased competition.
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How will Sanofi address AI risks?
Note that Sanofi is the first one in its industry to have announced such an AI partnership.
While that may come with a few risks, its executive vice president is convinced his company has the right safeguards in place to mitigate those risks. On “Worldwide Exchange”, he said today:
We’ll use human in the loop at every step of the way to ensure we follow the best ethical approach. Our scientists will work with OpenAI. We’re the first ones to fine tune models for our industry.
Emmanuel Frenehard also confirmed that $SAN will run a bunch of simulations to gain substantial evidence that the drug has favourable efficacy and toxicity profile.
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