Source: Hard AI
According to an EY survey, 40% of biotech company CEOs are seeking to use generative AI to create “concrete” value.
Another focus of the GTC conference, once again confirmed$NVIDIA (NVDA.US)$“Pharmaceutical ambitions.”
At the GTC conference held recently, Nvidia announced a partnership with two leading medical companies$Johnson & Johnson (JNJ.US)$und$GE HealthCare Technologies (GEHC.US)$Cooperation was reached to reach an agreement on the application of artificial intelligence in surgery and the introduction of medical imaging. In addition, Nvidia also launched more than 20 AI-driven healthcare tools at the conference.
This series of actions highlights the importance Nvidia attaches to future revenue opportunities in the medical sector, and its expectations for breakthrough progress in biotechnology are also one of the important factors supporting the company's stock price increase of nearly 100% since this year.
Raj Joshi, senior vice president and technical analyst at Moody's Ratings, stated:
“The reason why Nvidia is popular today is due to the underlying technology and support it provides, making previously time-consuming and labor-intensive tasks simple. The healthcare sector, whether biotechnology, chemistry, or drug discovery, is a field of great potential.”
Although drug development is a lengthy and high-risk project, it takes at least ten years from concept to clinical trial, and can cost billions of dollars. However, according to an EY survey at the end of 2023, about 41% of biotech company CEOs are seeking to use generative AI to create “specific” value for their companies.
Arda Ural, EY's health and life sciences marketing executive in the Americas, said:
“Over the past 18 months or more, we've seen more hope than hype due to the actual results and exciting applications of AI in the pharmaceutical, medical technology, and biotech industries.”
In fact, Nvidia has been in the healthcare sector for a long time. The media compilation shows:
In the earnings conference call in February of this year, Nvidia mentioned several ways in which its AI technology adapts to the medical field;
Last year, Nvidia invested $50 million in Recursion's drug discovery project, which will use its biological and chemical data to train AI models on the Nvidia cloud platform;
In addition, Nvidia has also reached a cooperation agreement with Genentech, a subsidiary of Roche, on the development of new drugs and the optimization of treatment plans.
In 2021, Nvidia and Schrödinger collaborated on a drug discovery project.
Some analysts pointed out that up to now, depending on the BioNemo platform, Nvidia has a unique advantage in the healthcare field. According to reports, the BioNmo platform is a generative AI cloud service specially tailored by Nvidia for drug development. It can not only improve R&D efficiency, but also reduce enterprise operating costs.
Nvidia CFO Colette Kress said:
“Over the past decade, we have built up deep expertise in healthcare, creating the CLARA healthcare platform and the BioNemo platform.”
“In healthcare, digital biology and generative artificial intelligence are helping to reshape drug discovery, surgery, medical imaging, and wearables.”
However, in terms of actual implementation and promotion, the integration of AI technology and healthcare still faces obstacles. The EY survey also showed that more than two-thirds of health science and healthcare workers are concerned about the use of AI, and 70% of respondents said they would feel anxious about using AI in the workplace.
editor/tolk