The increasing breadth and depth of resolution in biological and clinical data, including ‐omics and real‐world data, requires advanced analytical techniques like artificial intelligence (AI) and machine learning (ML) to fully appreciate the impact of multi‐dimensional population variability in intrinsic and extrinsic factors on disease progression and treatment outcomes. Integration of advanced data analytics in Quantitative Pharmacology is crucial for drug‐disease knowledge management, enabling precise, efficient and inclusive drug development and utilization – an application we refer to as Model‐Informed Precision Medicine. AI/ML enables characterization of the molecular and clinical sources of heterogeneity in disease trajectory, advancing endpoint qualification and biomarker discovery, and informing patient enrichment for Proof‐of‐Concept studies as well as trial designs for efficient evidence generation incorporating digital twins and virtual control arms. Explainable ML methods are valuable in elucidating predictors of efficacy and safety of pharmacological treatments, thereby informing response monitoring and risk mitigation strategies. In oncology, emerging opportunities exist for development of the next generation of disease models via ML‐assisted joint longitudinal modeling of high‐dimensional biomarker data such as circulating tumor DNA and radiomics profiles as predictors of survival outcomes. Finally, mining real world data leveraging ML algorithms enables understanding of the impact of exclusion criteria on clinical outcomes, thereby informing rational design of appropriately inclusive clinical trials through data‐driven broadening of eligibility criteria. Herein, we provide an overview of the aforementioned contexts of use of ML in drug‐disease modeling based on examples across multiple therapeutic areas including neurology, rare diseases, autoimmune diseases, oncology and immuno‐oncology.