The integration of artificial intelligence (AI) in drug discovery and development has ushered in a new era of innovation and efficiency in the pharmaceutical industry. This review explores the recent progress, challenges, and potential future directions of AI applications in drug research, highlighting its impact on target identification, compound screening, drug design, and clinical trials. Through a comprehensive examination of current literature and case studies, we aim to provide a nuanced perspective on the transformative role AI plays in accelerating drug discovery processes.