Artificial intelligence (AI) is having an unmistakable impact on the stock market, as semiconductor designer Nvidia (NVDA) now has a market cap that surpasses both Alphabet (GOOGL) and Amazon (AMZN). But beyond the universe of specialized AI chips and servers, the technological wave is impacting industries well beyond Big Tech - and healthcare is high on the list.
In fact, Goldman Sachs (GS) analysts recently said they expect AI-driven advancements in healthcare to help add 1.3% to U.S. GDP in the years ahead. Over the long term, the company believes that generative AI will become critical to drug discovery, optimization, and clinical trial design processes, with more than 500 AI-enabled and FDA-approved medical devices already being sold domestically.
