The Artificial Intelligence & its subset Machine Learning have lots of potential to transform our live easily. There are so many powerful tools which improve the productivity and probability of success of medicine development. The use of Machine Learning plays a very pivotal role and therefore, it is expanding rapidly to facilitate the development of medicines and the advanced precision of medicine. This Paper focusses on the application of Machine Learning for the discovery of Medicines in order to showcase it a more accurate and efficient technique. The prior works of the various researchers available in the accessible domains were used to access the knowledge that was part of a systematic evaluation. The use of Artificial Intelligence & Machine Learning in the discovery, development, marketing, prediction, analysis, and cost of product for the medicine is being endorsed in this work. This study gives an approach for the researchers & Pharmacologist who could save time by studying these methods which provide a thorough investigation of various compounds and hence, pave the way for a deeper exploration of AI & ML techniques in the process of medicine discovery.