Finding and designing new drugs is a long process, but it is the least cumbersome and expensive part of the process (as opposed to human trials which run on average upwards of 4x as long and cost 10-50x as much as preclinical).

And what we need is not simply more biological phenotypical data (such as genomics, biomarkers, etc.) that we can plug into a model. We actually need that AND labeled trial outcomes, which is a challenge in and of itself because pharma companies will often hide negative trial results (which are advantageous for training the model layer) in order to exacerbate the perception of drugs that make it to market (search for "missing data phenomenon pharma"). The clinical trials are an extremely costly (and necessary) market inefficiency that leads to a bunch of bad behavior that is unfortunately self-reinforcing. I spoke on the phone with a biotech entrepreneur who told me to think of the Gavin Belson (from Silicon Valley the TV show) quote where he says "I don't know about you, but I don't want to live in a world where someone other than me makes the world a better place better than me", and to just remember that's how many people think in pharma and biotech + pharma.

Augmenting how pharma companies work is a great first step. Augmenting how candidate drugs are engineered is a good first step. But that does not change the fact that we simply do not have deterministic governing laws (as we do in physics) to understand the complete pharmacokinetics/dynamics of a drug across a large patient population. You just have to run the test. It is true that AI will help, but only as much as we have a reasonable way to predict that candidate drugs will lead to positive trial outcomes and a large market.

Note that I am not a doomer here. I think AI will have a profoundly disruptive and positive impact on the pharma industry. I'm just not sure starting with drug design alone leads to hope unless there are things happening in the background between pharma + the labs (very possible) that could lead to better trial outcomes.