In recent years, artificial intelligence (AI) has been one of the most talked-about technologies in the world, particularly in the medical and biotechnology space. As more companies move toward integrating AI into their workflows, the industry buzz has shifted from AI being a ‘buzzword’ to an essential tool in achieving rapid advancements in medical and biotechnology.
To help make sense of why AI is no longer just a buzzword in biotech, six experienced investors have shared their views on why this technology is becoming more and more important in the field.
“With medical technology making huge advances, AI is proving a powerful tool for refining the diagnosis and treatments of conditions,” explains Amit Singh of Inspire Ventures. Singh argues that AI can be used to create “data-driven insights from large volumes of data that will ultimately improve patient outcomes.” He adds that AI is also being used to identify potential new treatments and drug targets by leveraging predictive analytics which can make the clinical trial process faster, more accurate and more efficient.
Karan Gupta, an investor with Lux Capital, believes that AI’s potential to speed up drug discovery and design will have a major impact on the biotech space. According to Gupta, AI can “leverage predictive analytics to quickly identify the best molecules for drug design and to predict how patients might respond to a particular drug. This reduces the time and cost of drug development, improving the efficacy of treatments.”
Maximillian Waite at Clear Creative Capital, also discussed the potential of AI in healthcare when coupled with machine learning. From his perspective, these technologies “can identify and detect abnormalities, helping medical professionals to diagnose diseases much faster and more accurately. This means treatments can start sooner, which will save lives.”
Kun Feng of Cormorant Capital commented that AI can also help streamline operational processes, from robotic systems that assist with surgeries to machines that can fabricate drugs on-site. In addition, Feng adds that AI can “identify patterns or trends that couldn’t be detected by a human alone,” leading to more effective treatments and better understanding of conditions.
Chris Diamon of Mentor Capital and Rainer Kloepfer of WIlleGlobal both agree with Feng’s assessment of AI’s potential to improve healthcare. They both mention that AI can “accelerate drug discovery and development, allowing for better quality control and improved patient outcomes.”
Overall, AI is much more than a “buzzword” in biotech these days. As more and more investments and research are made into AI-enabled technologies, the trend towards incorporating AI into medical and biotechnology is likely to become more widespread. As these six investors have shown us, AI can be incredibly beneficial in healthcare, leading to more effective treatments, better diagnosis, and improved patient outcomes.
