Drug discovery is a crucial element of biomedical research, with the goal of finding and creating new medical treatments for a variety of illnesses. Yet, the conventional process of finding new drugs is frequently impeded by its intrinsic difficulties, such as expensive expenses, long durations, and poor success rates in trials with patients. Recently, the incorporation of machine learning (ML) algorithms has become a revolutionary method to streamline and improve different phases of drug discovery. This summary offers a glimpse into the rapidly growing area of drug discovery using machine learning algorithms, emphasizing its potential to transform the process of developing treatments. The usual process of discovering drugs involves various stages such as identifying the target, finding lead compounds, conducting preclinical tests, undergoing clinical trials, and obtaining regulatory approval. All these phases require a lot of labor, time, and resources, leading to high attrition rates and limited success in turning potential compounds into approved therapies. Nevertheless, researchers can enhance and speed up crucial parts of the drug discovery process by using ML algorithms. ML algorithms use data to aid in drug discovery by utilizing computational models to examine large quantities of biological, chemical, and clinical data. These algorithms can learn from various types of data, such as genomic data, chemical structures, protein interactions, and clinical outcomes, to discover hidden patterns, find new targets for drugs, and forecast the effectiveness and safety of potential treatments. Moreover, machine learning algorithms allow for the investigation of intricate connections between molecular structures and biological effects, making it easier to create improved drug candidates with better effectiveness and specificity. Important uses of machine learning in pharmaceutical research involve finding and confirming targets, screening compounds and improving leads, repurposing drugs, and tailoring treatments for individuals. Commonly used for classification and regression tasks, supervised learning algorithms like support vector machines and random forests predict compound activity, toxicity, and pharmacokinetic properties. Clustering and dimensionality reduction techniques utilized in unsupervised learning algorithms help analyze vast datasets and discover new drug-target interactions. Advanced abilities for analyzing molecular structures, virtual screening, and designing new drugs are provided by deep learning models like convolutional neural networks and recurrent neural networks. Multiple case studies demonstrate how ML algorithms can significantly impact drug discovery. Collaboration among academia, industry, and research institutions has resulted in the creation of new ML-based methods for drug development, identifying targets, and categorizing patients. Nevertheless, there are challenges accompanying the widespread use of ML in drug discovery. In healthcare, it is crucial to address ethical considerations, regulatory hurdles, and data privacy concerns to ensure the responsible and ethical use of ML algorithms. The potential for transforming drug discovery and therapeutic development is immense with the incorporation of machine learning algorithms. Through utilizing data-driven methods, researchers can speed up the discovery of new potential drugs, enhance the effectiveness of treatments, and ultimately enhance the results for patients. Ongoing innovation, teamwork, and cross-disciplinary studies are crucial to fully leverage the potential of ML in revolutionizing drug discovery and precision medicine.