Pharmaceutical companies have been at the forefront of artificial intelligence for quite some time. Researchers have been using advanced AI models to understand disease mechanisms even before the recent surge in interest. Wednesday, researchers at Alphabet Inc’s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google DeepMind developed AlphaFold 3, a new artificial intelligence (AI) model. AlphaFold 3 can predict the structure and interactions of biological molecules. This includes proteins, DNA, RNA, and small molecules that could function as drugs.  According to the latest McKinsey Global Institute report, AI technology could generate $60 billion—$110 billion annually in economic value for the pharmaceutical industry, as it can help speed up the process of identifying compounds, their development, and approval. The report adds that generative AI’s impact on pharmaceuticals is expected to be profound as the foundational models are built on languages, images, omics, patient information, and ...