How AI is Accelerating the Growth of Biotech into a $31.87 Trillion Global Industry
Artificial intelligence has the potential to be a revolutionary innovation for supercharging the development of the global biotech industry, transforming it from a trial-and-error-driven industry into a data-oriented rapid-discovery ecosystem.
According to BioSpace insights, the AI in biotechnology market size is expected to exceed $31.87 billion by 2035, owing to rising demand for faster drug discovery and precision medicine.
The use cases surrounding AI in biotech are already expanding at a rapid pace, and the high-profile institutional adoption of the technology by the FDA, which established its own generative AI assistant to support internal scientific reviews, has emboldened more firms to follow in its footsteps.
This has not only triggered significant global investments but has also opened the door for a more borderless outlook for the sharing of data and high-tech applications in the industry.
As a result, AI is not only breaking down technological boundaries but also geographical ones....
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