Technology giant Amazon (AMZN) has launched Amazon Bio Discovery, an artificial intelligence (AI) application designed to accelerate early-stage drug discoveries.
Claim 30% Off TipRanks
New trading tool for AMZN bullsThe new AI tool, which is housed in Amazon’s cloud computing unit, enables scientists to execute complex computational workflows without coding. Amazon Web Services (AWS) said in a blog post that Amazon Bio Discovery provides researchers with access to a library of specialized biological foundation models capable of generating and evaluating potential drug molecules.
The platform also includes an AI agent that assists scientists in selecting models, setting parameters, and interpreting results. Researchers can submit shortlisted candidates to integrated laboratory partners for synthesis and testing, with results fed back into the system.
AI’s Role In Drug Discoveries
Amazon says that its new AI drug discovery tool is already being used by leading pharmaceutical companies such as Bayer (CH:BAYN) and Voyager Therapeutics (VYGR). The tech giant also noted that 19 of the top 20 global pharma companies currently use its cloud computing services.
Companies are increasingly turning to AI to help with drug discoveries and to advance medical breakthroughs. On the same day as Amazon’s announcement, European pharma giant Novo Nordisk (NVO) announced that it is partnering with OpenAI in an effort to use AI to advance new medicines.
Is AMZN Stock a Buy?
AMZN stock has a consensus Strong Buy rating among 46 Wall Street analysts. That rating is based on 43 Buy and three Hold recommendations issued in the last three months. The average AMZN price target of $284.09 implies 14.91% upside from current levels.
