Drug discovery has undergone a remarkable transformation over the past few decades, driven by advances in technology, molecular biology, and computational sciences. Traditional methods, which relied heavily on trial-and-error and high-throughput screening, are now being complemented and enhanced by innovative approaches such as artificial intelligence (AI), machine learning (ML), genomics, and structure-based drug design. These modern strategies have significantly accelerated the identification of potential drug candidates, improved target validation, and reduced the overall cost and time of development. Moreover, advances in personalized medicine and the integration of omics technologies have enabled a deeper understanding of disease mechanisms, leading to the discovery of more effective and safer therapeutic agents. This review highlights the recent breakthroughs, emerging technologies, and future trends shaping the field of drug discovery, emphasizing their collective role in transforming pharmaceutical research and improving patient outcomes.