Tech giants see a cure for cancer in AI. But Eli Lilly’s CEO finds it ‘not particularly good’ at solving biology or chemistry problems

Fortune

by Jake Angelo

March 2, 2026

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Tech giants are touting AI as a potential breakthrough in cancer research, with leaders like Google's Ruth Porat and Anthropic's Dario Amodei predicting it could revolutionize medical progress. However, Eli Lilly CEO David Ricks remains skeptical, stating that AI struggles to solve complex scientific problems due to its lack of training in biology, chemistry, and physics. While AI has shown promise in specific areas, such as Google DeepMind's AlphaFold and AlphaProteo models aiding protein structure prediction and drug design, Ricks emphasizes that these advancements are still minimal compared to the vast challenges in drug discovery. Despite doubts, investments in AI for cancer research have surged, rivaling the GDP of some developed nations. Oracle’s Larry Ellison even suggested that the Stargate Project, a $500 billion investment in AI infrastructure, could lead to a cancer vaccine within 48 hours. Yet, Ricks highlights that AI's current capabilities are limited to predictions and structural analysis, with most large language models failing to grasp the nuances of biology. Eli Lilly itself uses AlphaFold for insights but believes tailored AI models trained on specialized data will be key to future breakthroughs. Ricks suggests that while AI can accelerate certain aspects of research, such as predicting protein structures, it is still a "toddler" in understanding biological complexity. He advocates for developing narrow AI models focused on specific scientific problems, similar to AlphaFold and AlphaProteo, to bridge the gap between current capabilities and the needs of drug discovery. The debate over AI's potential in cancer research matters deeply to businesses, particularly investors and pharmaceutical companies. While tech giants

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Originally published on Fortune on 3/2/2026