With the artificial intelligence market expected to top $1 trillion in just a few years, some of the top companies set to benefit include Nvidia (NVDA), Microsoft (MSFT), Meta (META), and Advanced Micro Devices (AMD). In fact, according to Statista, the AI market could balloon to $1.8 trillion by 2030. All as it changes just about everything from drug discovery and education, to finances, and cyber threats.
It’s even having a big impact on healthcare.
According to Statista, “The artificial intelligence (AI) healthcare market, valued at $11 billion in 2021, is projected to be worth $187 billion in 2030. That massive increase means we will likely continue to see considerable changes in how medical providers, hospitals, pharmaceutical and biotechnology companies, and others in the healthcare industry operate.”
Look at drug discovery, for example.
At the moment, it can take 10 to 15 years, and upwards of $2 billion to develop a new drug.
That’s because, when creating a new drug, you need to identify a molecule that balances a large number of anti-correlated properties, including potency, selectivity, solubility, bioavailability, clearance/ half-life, permeability, drug interactions, and synthesizability.
Even then, drug development has a high failure rate of 90% -- which is ridiculously high.
However, with artificial intelligence (AI) the rate of failure could drop, and the design of new drugs could become far easier. According to Pfizer, AI could assist pharma companies in getting medicines to market faster. AI today not only does flashy gene-sequencing work, it’s being trained to predict drug efficacy and side effects, and to manage the vast amounts of documents and data that support any pharmaceutical product.
Plus, according to Fitch Solutions:
“Within cardiovascular care, AI can be used a tool to monitor vital signs of patients such as pulse rates, respiration rates and blood pressure (blood pressure is not considered a vital sign, but is often measured along with the vital signs). These indicators can detect signs of heart failure, or other instances in which a patient should be referred to a healthcare professional for further treatment or care, or to diagnose a heart condition.”
Yet, this is just the start.
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Written by Dylan Jovine