How A.I. Is Shaping the Future of U.S. Healthcare: Regulatory and Market Updates
PALM BEACH, Fla., Aug. 14, 2024 (GLOBE NEWSWIRE) — FN Media Group News Commentary – The technological shift driven by the rise of artificial intelligence (AI) is giving patients in the USA cautious optimism towards the potential of generative AI in healthcare. In order to safely bring AI into the healthcare space, state governments across the USA are working on how to regulate its implementation. The potential to enhance accuracy and speed in diagnostics, analyzing eye scans and predicting complications, and even designing new drugs, the potential for AI in healthcare is too big to ignore. Reaching the goal of safely bringing AI into the medical space still requires lots of research and development, with several tech innovators recently updating the market with their latest developments, including: Avant Technologies Inc. (OTCQB: AVAI), Recursion Pharmaceuticals, Inc. (NASDAQ: RXRX), Exscientia plc (NASDAQ: EXAI), Twist Bioscience Corporation (NASDAQ: TWST) and IQVIA Holdings Inc. (NYSE: IQV).
The article continued: Driven by advancements in machine learning techniques, analysts at MarketsandMarkets Research are projecting explosive growth (48.1% CAGR) in the AI in Healthcare Market, estimating it to reach US$148.4 billion by 2029. Also recently, Silicon Valley Bank published a report, claiming that 1 in 4 dollars invested in healthcare are going towards companies leveraging AI.
Avant Technologies, Inc. (OTCQB: AVAI) Unveils AI-Powered Healthcare Infrastructure to Deliver Intelligent Healthcare Solutions – Avant Technologies, Inc. (“Avant” or the “Company”), an emerging technology company developing solutions in artificial intelligence (AI) infrastructure while exploring additional technologies in the biotechnology and healthcare sectors, today announced a significant initiative to improve patient care by creating an advanced AI-powered healthcare infrastructure. This new platform will utilize machine learning and advanced computing to empower healthcare providers and patients, which will enhance care delivery and monitoring. Healthcare-focused applications, such as “intelligent agents,” will directly benefit from this platform, which includes built-in features specifically designed for healthcare applications for professionals and patients.
Avant’s vision for the future of healthcare revolves around integrating with existing systems and providing a suite of built-in infrastructure and intelligent features. These features include first- line advising agents that offer personalized guidance to patients, advanced analytics to uncover hidden patterns and optimize treatment plans, and tailored treatment protocols based on individual patient data. The platform will also include a predictive health analysis feature for early intervention and medication management tools to ensure optimal adherence and effectiveness.
One of the infrastructure’s key focuses is a highly secure connection to clinic and hospital patient databases. This ensures privacy and compliance while enabling remote telemedicine features. It also expands access to quality healthcare, especially in underserved areas.
“Our mission is to utilize the latest advancements in AI, including the massive potential of future quantum computing, to create a healthcare ecosystem where healthcare applications can naturally incorporate smart features for patient care, ensuring that every patient receives the best possible care,” said Kenneth L. Waggoner, Chief Executive Officer at Avant Technologies. “We believe that evidence-based medicine and intelligent resource allocation will pave the way for a healthier future for all.”
Avant’s ambition extends beyond improving patient outcomes. By optimizing healthcare spending through intelligent data-driven insights, the company aims to make quality healthcare more accessible and affordable for everyone. This initiative reinforces Avant’s commitment to utilizing cutting-edge technology to create a more efficient, effective, and equitable healthcare system for the future. CONTINUED… Read this and more news for Avant Technologies at: https://equity-insider.com/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
In other industry developments and happenings in the market recently include:
TechBio companies Recursion Pharmaceuticals, Inc. (NASDAQ: RXRX) and Exscientia plc (NASDAQ: EXAI), recently announced a definitive agreement to create a global technology-enabled drug discovery leader with end-to-end capabilities.
The collaboration brings together Recursion’s scaled biology exploration and translational capabilities with Exscientia’s precision chemistry design and small molecule automated synthesis capabilities to create a leading technology-first, end-to-end drug discovery platform. Together they have a highly complementary pipeline with approximately 10 clinical readouts expected over the next 18 months. The duo expects their complementary operations to yield annual synergies of approximately $100 million.
The combination will prioritize generative AI design, including both 2D and 3D modeling, to drive advancements in structure-based drug design, hotspot analysis, and quantum mechanics. It will support a comprehensive, technology-enabled platform that spans patient-centric target discovery, molecular dynamics modeling, automated chemical synthesis, predictive ADMET, biomarker selection, clinical development, and more. This full-stack platform will also encode and automate design-make-test-learn cycles with active learning.
“We believe the proposed combination is deeply complementary and aligned with our missions to industrialize drug discovery to deliver high quality medicines and lower prices for consumers,” said Chris Gibson, Ph.D., Co-Founder and CEO of Recursion as well as the planned CEO of the combined entity. “Exscientia’s precision chemistry tools and capabilities, including its newly commissioned automated small molecule synthesis platform, will augment our tech-enabled biology and chemistry exploration, hit discovery and translational capabilities.”
Twist Bioscience Corporation (NASDAQ: TWST), a company enabling customers to succeed through its offering of high-quality synthetic DNA using its silicon platform, recently announced the expansion of its DNA synthesis offering with the launch of Gene Fragments with increased lengths ranging from 1.8kb to 5.0kb.
Twist’s low error rate of 1:7,500 base pairs facilitate the production of longer gene fragments, seamlessly integrating into workflows and enabling researchers to select fewer colonies for screening or directly use the fragments in in vitro transcription to produce RNA. The extended length of these Gene Fragments allows researchers to further customize and incorporate additional elements. Turnaround time for all Gene Fragments, regardless of length, begins at just two business days.
“Leveraging our Express Genes workflow, industry-leading error rate and rapid turnaround times, we continue to push the boundaries of what is possible in DNA synthesis to expand our portfolio of products that enable our customers to quickly and efficiently advance their research,” said Emily M. Leproust, Ph.D., CEO and co-founder of Twist Bioscience. “With the versatility, speed, high quality, scalability, competitive pricing, and now increased length of Twist Gene Fragments, we can further penetrate the Maker’s Market and meet the needs of customers who previously had to stitch together shorter fragments, as well as enable customers working in RNA therapeutic screening applications.”
IQVIA Holdings Inc. (NYSE: IQV), a leading global provider of advanced analytics, technology solutions, and clinical research services to the life sciences industry recently reported its Q2 2024 results, which included R&D Solutions quarterly bookings of $2.7 billion, representing a book-to-bill ratio of 1.27x, and a R&D Solutions contracted backlog of $30.6 billion, up 7.7% reported and 8.1 percent at constant currency year-over-year.
These positive results followed upon IQVIA’s recent recognition by independent research firm, Everest Group, as a Leader in its Life Sciences Regulatory and Medical Affairs Operations PEAK Matrix® Assessment 2024 survey, which measures both market impact and delivery effectiveness. As with all IQVIA AI-powered solutions, the AI capabilities in IQVIA’s medical affairs and regulatory solutions are grounded in IQVIA Healthcare-grade AI™ – AI engineered to meet the level of precision, speed and trust required for life sciences and healthcare.
“IQVIA stands out as a prominent service provider distinguished by its wide scope of services and extensive domain expertise, which is further augmented through its collaborations with multiple health authorities,” says Lloyd Fernandes, practice director, Everest Group. “Furthermore, IQVIA is well-poised to cater to enterprises’ digitization needs via its suite of technology solutions, including IQVIA RIM Smart, productivity tools for electronic submissions, and IQVIA labeling solutions, enabling enhanced process efficiencies.”
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