Several high-profile companies are looking to leverage artificial intelligence (AI) capabilities to disrupt the healthcare sector. That's because drug development is risky, expensive, and time-consuming. It can cost billions, and easily take a decade to go from concept to clinical trials and regulatory approval.
In late 2023, Google (GOOG) (GOOGL) unveiled MedLM, a suite of healthcare-specific AI models designed to help clinicians carry out complex studies, summarize doctor-patient interactions, and much more. The product offering signaled the tech giant’s attempt to monetize its healthcare-focused AI tools amid competition from Microsoft (MSFT) and Meta (META). Google has also announced plans to introduce healthcare-specific versions of its AI model, Gemini.
