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Investing.com -- Thermo Fisher Scientific Inc. (NYSE:TMO) stock rose 2.3% in premarket trading Thursday after the company announced a strategic collaboration with OpenAI to accelerate drug development and enhance operational efficiency.
The world leader in serving science plans to integrate OpenAI’s advanced capabilities across its business operations, with a particular focus on its PPD clinical research division. The partnership aims to significantly reduce clinical trial cycle times and speed up the process of bringing new medicines to market.
Through this collaboration, Thermo Fisher will leverage artificial intelligence to help identify unsuccessful therapies earlier, allowing customers to redirect resources toward more promising opportunities. The company will also incorporate AI into its Accelerator Drug Development solution, which provides end-to-end support from early development through commercialization.
"AI is shaping the future of science. And when combined with our Mission to enable our customers to make the world healthier, cleaner and safer, it is a powerful catalyst to accelerate scientific advancement," said Marc Casper, Chairman, President and Chief Executive Officer of Thermo Fisher Scientific.
As part of the initiative, Thermo Fisher will deploy ChatGPT Enterprise to its employees to build proficiency with these AI tools. The company intends to apply OpenAI’s technology across product development, service delivery, customer engagement, and operational efficiency.
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