Generative AI Will Transform Health Care Sooner Than You Think

11

October

2024

No ratings yet.

Generative AI is accelerating drug discovery, improving clinical-trial planning and execution, and leading to more precision medicine therapies.

Nowadays, NVIDIA is offering a brand new set of generative AI cloud services to enable customization of AI models and accelerate drug discovery and research in genomics, chemistry, biology, and molecular dynamics. The services provide well-trained models and enable researchers to fine-tune generative AI applications on their own proprietary data.

Beyond drug discovery, generative AI could accelerate and improve clinical trials and precision medicine therapies. For example, digital modeling of clinical trials, including synthetic control groups, has recently been validated. Similarly, a tool developed by Synthesized can help researchers to expand existing drugs beyond their initial use and make medicines more accessible.

Payers are starting to use generative AI to reduce costs and improve risk management.

The UK’s National Centre for Additive Manufacturing is applying generative AI to upgrade the attribute of medical devices such as prosthetics and implements, tailoring them to meet the needs of individual patients.

In health care services, generative AI can be widely used in data analytics and software optimization. Because it acts better in flexiblity than earlier generations of AI and can be suitable in different data modes, even generate synthetic data to complement insufficient data sets. It can improve the interoperability of existing applications, including health and laboratory information management systems.

In health care services, generative AI can be particularly useful in data analytics and software optimization.

In the near future, generative AI-powered tools could be used to monitor public health and allocate relative resources. In the US, Medicaid could potentially leverage the technology to better manage allocations based on health data and forecasted need. The FDA could use it when reviewing the safety and efficacy of drugs, and generative AI could help public-health groups like Doctors Without Borders predict outbreaks and mobilize resources to minimize impact.

Reference

Boston Consulting Group. (2023, June 22). How generative AI is transforming health care sooner than expectedhttps://www.bcg.com/publications/2023/how-generative-ai-is-transforming-health-care-sooner-than-expected

Philips. (2022, November 24). 10 real-world examples of AI in healthcarehttps://www.philips.com/a-w/about/news/archive/features/2022/20221124-10-real-world-examples-of-ai-in-healthcare.html

Please rate this

Witness History: Donald Trump pays bitcoin for burgers

19

September

2024

5/5 (1)

When handed a Bitcoin payment code, he fumbled with a custom iPhone and trying to scan it, but unfortunately, modern tech isn’t his forte. Eventually, the bar owner and an assistant stepped in completed the transaction. With his signature smile, Trump declared, “History is being made!” He spent around $950 in Bitcoin, buying burgers and Diet Cokes priced at $17 each. After his paying, Trump took this chance to criticize the Federal Reserve’s recent interest rate cut and suggested that this is either political manipulation or a fiasco U.S. economy. Meanwhile, Bitcoin’s price surged past $62,000, thanks to favorable economic conditions like the rate cut.

Embrace the crypto industry.

Although Trump is already 78, of course cannot be a Bitcoin expert, he has made several pro-crypto promises. At PubKey, he told the crowd that if he could be re-elected, he would stop the Federal Reserve’s work on a central bank digital currency and fire SEC Chairman Gary Gensler on his first day back in office. Trump also pledged to make the U.S. a “global cryptocurrency and Bitcoin capital,” establish a “Bitcoin national reserve,” and set up a presidential advisory committee on cryptocurrency.

Business! It is all about business!

Trump used to call Bitcoin as a “scam”, but now he embraces it isn’t without reasons. On one hand, there are about votes and campaign funds. After promising a crypto-friendly regulatory environment, Trump’s campaign has received millions in cryptocurrency donations.On the other hand, there are family interests in this game. Trump and his sons recently announced a new venture, “World Free Finance,” which aims at providing financing alternatives to those underserved by traditional banks.

As a typical businessman, Trump has also profited handsomely from the NFT boom. In 2023, he made nearly $7.2 million selling Trump-themed NFTs, including special edition digital trading cards featuring his infamous red tie and suit worn during his Georgia arrest. Trump’s embrace of cryptocurrency combines politics and profit, turning his campaign into both a rallying cry and a business venture in the crypto world.

Cryptocurrencies have evolved into significant political and financial tools. Donald Trump’s recent use of Bitcoin, with his promises to make the U.S. a “global cryptocurrency capital,” signals the growing political importance of virtual currencies. Initially skeptical, Trump now leverages Bitcoin to attract campaign donations and appeal to younger voters.

Bitcoin’s value is tied to economic conditions, such as the recent surge past $62,000 following Federal Reserve actions, but its volatility poses risks for mainstream adoption (Nakamoto, 2008; Yermack, 2015). Furthermore, Trump’s opposition to central bank digital currencies reflects broader debates about regulation in the crypto space, where decentralization is seen as both an opportunity and a risk (Narayanan et al., 2016; Schär, 2021).

Reference:

Nakamoto, S. (2008). Bitcoin: A Peer-to-Peer Electronic Cash System. Retrieved from https://bitcoin.org/bitcoin.pdf

Yermack, D. (2015). Is Bitcoin a Real Currency? An Economic Appraisal. In D. Lee Kuo Chuen (Ed.), Handbook of Digital Currency (pp. 31-44).

Elsevier.Narayanan, A., et al. (2016). Bitcoin and Cryptocurrency Technologies. Princeton University

Press.Schär, F. (2021). Decentralized FinanceSt. Louis Fed Review, 103(2), 153–174.

Please rate this