During the J. P. Morgan Health Care Conference 2024 last January, there was a palpable anticipation of increased corporate partnership driven by the growing demand for AI technologies in new drug development. This surge in demand is expected to foster greater collaboration among companies. Factors contributing to this trend include: 1) the reduction cost and time associated with new drug development, 2) the expanding need for collaboration and partnerships, and 3) the impact of numerous drugs reaching patent expiration. Consequently, the global market for AI-based new drug development is projected to reach USD 4.9 billion by 2028.
    Session 4 will assess the status of AI-based new drug development in Korea, showcasing best practices and ongoing projects by various biotech companies. Additionally, the session will highlight global collaboration cases and examples of Korean collaborations in AI-based new drug development.