Nvidia lately made some important agreements to use artificial intelligence (AI) in medicine. The company has partnered with Johnson & Johnson for using the tools in surgery. Simultaneously, it has partnered with GE Healthcare to improve medical imaging. Both the agreements were announced during the Nvidia’s GTC AI conference. New AI tools focused on healthcare were also launched at the event.
Industry expert Raj Joshi said Nvidia is gaining popularity in recent months because it is making difficult tasks easier as well as cheaper. It has worked more healthcare segment. The stock of Nvidia has jumped by about 100% in 2024. It reveals that investors are excited about the potential of Nvidia in the healthcare segment.
AI can help in speeding up the process of discovering new drugs. It can even help in discovering new uses of existing drugs. Arda Ural from consulting firm EY believes that AI is not hype anymore. It has been witnessed that AI is producing real results in industries like pharmaceuticals and biotechnology.
Developing new drugs is expensive as well as risky. It usually takes years and billions of dollars too. Even there remains no guarantee of success. However, several CEOs in the biotech industry are moving towards AI for improving their chances of success.
Right now, Nvidia is mainly focusing on healthcare. Colette Kress, Nvidia’s financial officer, emphasized on how they have been working on the new technology for drug discovery, surgery, medical imaging and wearable devices. They have invested $50 million in Recursion Pharmaceuticals to help them with on drug discovery projects.
Recursion Pharmaceuticals is using the AI technology of Nvidia to analyze biological and chemical data to discover new drugs. They are even partnering with more companies for drug discovery.
