Understanding current industry trends in the application of AI for healthcare and life sciences
AI is now more present than ever. As we saw in the previous section, the availability of better tools, easier access to technology, and the ability for everyone to try it out are some of the key factors influencing advancements in AI/ML in healthcare and life sciences. Let us now look at some trends that show how AI applications are transforming healthcare and life sciences.
Curing incurable diseases such as cancer
The traditional method of mass-producing generic medications has existed for a while now. These medications have the same formulary and have been around for years, treating the same clinical conditions in the same way. One or two of these for a pharmaceutical company earns them billions of dollars in profits. Blockbuster drugs (as they are referred to) are produced using the same methods in large quantities and are expected to have the same effect on every patient. However...
