"AI will transform pharma, but not evenly and not all at once." (opens in new tab)

"AI will transform pharma, but not evenly and not all at once." "Building an enduring company in the age of AI is hard precisely because advantages can dissipate rapidly as models improve." "The companies that win will predict the uneven frontiers correctly, absorbing each model improvement as a tailwind rather than a headwind." "Our view: discovered drugs are becoming abundant while clinical development remains the binding constraint — so the durable position is built around that bottleneck,...