Is Artificial Intelligence the Next Pacer?
American Motors Corporation was formed in 1954 from the merger of Nash-Kelvinator and the Hudson Motor Car Company. As an automobile manufacturer, they had some success over the years, but always trailed the Big Three – Ford, GM, and Chrysler.
Forever struggling and without the means to keep up with the Big Three – they relied on inventive engineering and niche markets. In the 70’s AMC introduced the Pacer. The Pacer was billed as “The First Wide Small Car”. Charitably described as a fishbowl on wheels, the Pacer sold well in its first two years – but sales trailed offer after that. It was a case of those who wanted one got one – but once that demand had been met – there were no buyers left. Five years after its introduction the Pacer was gone.
I have a feeling this “early adopter” trend is currently being replayed with electric cars. People who really wanted one – got one. The demand and then the prices went up. But now we are seeing reports of people running out of electricity in the worst of weather. As a result, electric cars are languishing on dealer lots. The early adopters go theirs, but no one else wants one – at least until the national charging network gets bigger and better – and charging times become as short as filling up your tank at the local gas station.
Which brings me to artificial Intelligence (AI). It really is the hot topic currently – and claims – both good and bad – about what it can and will do run rampant.
For the pharma industry, the promise of AI is that it will be able to pull/tease out from mountains of data – the next drug candidate. And do it faster, with more certainty, than is humanly possible.
There is evidence AI is being used currently by pharma companies. But being a traditionally risk-averse industry, my feeling is the industry will not be the first to jump all in on AI. Best to leave it to another industry to be the early adopter.
To continue with the auto analogy – perhaps the best solution will turn out to be a hybrid. AI working in conjunction with traditional drug research and development technologies.
After all – no one wants to be left out in the cold with no juice.
Mike Auerbach
Editor-In-Chief
[email protected]
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