All posts by Benjamin Pipicelli

The State of Medical Diagnostics, Venture Capital, and Beyond

Written By: Benjamin Pipicelli

The patient suffers from abdominal pain, along with symptoms in atypical locations, making diagnosis tricky. An astute examination reveals the cause: an unusual form of appendicitis. However, credit doesn’t go to the radiologist. Instead, an imagery machine built with artificial intelligence technology, which can draw on knowledge of tens of millions of similar scans, recognizes the anomaly and makes the diagnosis.

This scenario, once considered science fiction, is now a reality. To reduce costs and increase productivity, both medical equipment manufacturers and technology companies are investing significantly in AI. Several systems already exist, and the growth in this field, particularly in diagnostic imaging, is expected to accelerate in the coming years.

In a recent report, Deloitte discovered that although there are obstacles to overcome in the development and deployment of AI in medical technology (MedTech), such as regulatory and patient data privacy concerns, successful implementation of AI could enhance productivity, reduce treatment costs, and drive growth throughout the healthcare value chain1.

The biotech startup sector is projected to continue expanding and evolving in the forthcoming years. Key trends that will shape the industry include personalized medicine, bioprinting and tissue engineering, orphan drugs, drug discovery, and gene editing along with CRISPR diagnostics. Moreover, the combination of Generative AI with biotech offers additional opportunities for groundbreaking advancements in medicine. Generative AI is now utilized to create novel drugs and treatments that were previously unattainable.

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