The recent surge in artificial intelligence and machine learning has been noteworthy. It has decreased the workload of humans significantly enhanced the quality of life. The article explains the application of artificial intelligence and machine learning in supporting drug discovery and drug development to make them efficient and accurate. In the present study, a systematic review of studies was conducted; these were identified based on earlier knowledge of the authors and keyword search in easily accessible databases which were filtered according to related context, abstract, methodology, and full text. This collection of work substantiated the role of machine learning and artificial intelligence in making drug development and drug discovery processes cost-effective or entirely eliminating clinical trials, due to the facilitation of the simulation process through these technologies. They also made it possible for researchers to investigate various molecules more comprehensively, without trials. The findings of the paper illustrate the common application of machine learning and artificial intelligence techniques in drug discovery, and point towards a bright future for these technologies; these findings should allow researchers, students, and the pharmaceutical industry to explore machine learning and artificial intelligence further in a drug discovery and development environment.