Pharmaceutical giant Bayer has reportedly pledged to make significant investments in artificial intelligence (AI) and data science as part of its $1.4 billion digital transformation strategy.
The company’s board of directors signed the “Future Concept” plans, which will expand and develop the technology portfolios of the German-based businesses until 2025. In addition to spending on AI, the company plans to increase hiring to its R&D teams, focusing on biotechnology, cell and gene therapy, and data science. The Berlin and Wuppertal research centers are also being modernized and expanded.”In Germany, we want to strengthen Bayer’s global competitiveness and innovation power, and support the concern in achieving its growth goals,” Oliver Zühlke, chairman of Bayer’s general works council, said in a statement. As part of the announcement, the German company committed to expanding partnerships and collaborations with academic institutions and startups. Prior to the announcement, Bayer had already been actively involved in collaborations related to artificial intelligence. The German company is one of a large number of pharmaceutical companies that maintain a relationship with the British startup Exscientia and actively use its AI-based drug research tools. Bayer has also joined rivals Eli Lilly and Gilead in sponsoring the “Virtual Second Species” challenge, a competition to create “virtual dogs” for drug trials.According to the company, it wants to create an ecosystem that “enables faster and more direct access to innovations”. Bayer’s plant science division is also being boosted by the company’s digital transformation plans. The innovation center will be established in Monheim – together with the offices in Dormagen, Frankfurt and Knapsack, 386 million dollars will be spent on digitization in this area.And the consumer healthcare divisions of the Leverkusen-based company in Bitterfeld, Darmstadt and Grenzach will spend 120 million dollars over the next four years on digitization, smart factory technologies and employee training.Hardware, software, tests, interesting and colorful news from the world of IT by clicking here!