Small biotech firms adopt artificial intelligence (AI) more quickly than larger ones, says Alex Ng, President of Tencent Healthcare.
Pharmaceutical companies are using AI to speed up R&D, reduce costs, and shorten drug development timelines.
Firms like Novo Nordisk and Eli Lilly have announced AI collaborations with tech companies.
"When you have fewer people and need to do more, you find more efficient ways," Ng said. "AI is something they latch onto very quickly."
For big pharma, adding AI can be challenging due to complex workflows.
Industry forecasts suggest AI could halve early-stage development time and costs within 3-5 years.
