GenAI, or Generative AI, has seen a surge in patenting activity with China leading the way in filing patent applications for this technology. The landscape analysis by WIPO reveals Tencent, Ping An Insurance Group, and Baidu as the top filers of GenAI patents, with Chinese organizations dominating the scene. (World Intellectual Property Organization (WIPO) (2024). Generative Artificial Intelligence. Patent Landscape Report.)
Moreover, GenAI's impact extends to personalized medicine where it holds the promise of revolutionizing treatments through individualized approaches. By leveraging patient data and creating models of genomes, GenAI can predict responses to drugs, potentially generating billions in economic value for the pharma and medical-product industries, according to The McKinsey Global Institute. (Generative AI in the Pharmaceutical Industry: Moving From Hype to Reality, McKinsey, 2024.)
As GenAI continues to shape various industries, from software to life sciences, its application in personalized medicine stands out for its potential to accelerate drug development, regulatory processes, and the design of new molecules. With GenAI at the forefront of innovation, the future of health care and life sciences looks increasingly promising.
Opinion: The remarkable growth of GenAI, particularly in the realm of personalized medicine, signals a transformative era in health care where tailored treatments could become the norm, ushering in a new age of precision medicine.
Another promising area is
personalized medicine. The ability to generate insights and
patterns from vast quantities of patient data will spark more
personalized treatments. GenAI can also be used to create models of
individual patients' genomes to predict their response to
drugs. As a result, The McKinsey Global Institute (MGI) has
estimated that
the technology could generate US$60 billion to US$110
billion a year in economic value for the pharma and medical-product
industries ....
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