In recent years, the use of generative artificial intelligence (AI) has captured the attention of both the healthcare industry and Wall Street. While healthcare professionals see tremendous potential in using AI to enhance diagnostic capabilities and improve patient outcomes, investors have taken a different perspective. CNBC’s Jim Cramer noted that the financial world seems more interested in using this technology for advertising purposes rather than healthcare advancements.
Cramer’s observations stem from his attendance at JPMorgan’s health-care conference, where he witnessed the incredible range of disciplines benefiting from generative AI. Despite the multitude of applications in healthcare, Cramer believes that investors are primarily concerned with the profitability of targeted advertising. He acknowledges that this focus on financial gain is not in line with the importance of saving lives but emphasizes that investing decisions are often driven by monetary returns.
However, Cramer remains optimistic about the intersection of technology and healthcare. He points to a JPMorgan note that estimates Nvidia’s healthcare business to be worth over $1 billion, underscoring the significant impact of AI on drug discovery and computer-aided research. Cramer also highlights the successful collaborations between pharma companies and AI technology, such as Amgen’s partnership with Nvidia for drug discovery and Roche’s strategic use of AI to expedite the drug development process.
Despite these promising developments, Cramer suggests that investors may be prioritizing computer science over vital healthcare advancements. While breakthroughs in medical technology, such as Abbott Labs’ pacemaker, save lives, they may not garner the same attention in the stock market as AI-powered advertising technology employed by big tech companies like Amazon and YouTube.
The challenge lies in finding a balance between utilizing AI’s capabilities for both financial gain and healthcare progress. By channeling investments towards valuable partnerships and innovation within the healthcare sector, the potential for leveraging AI to extend and improve quality of life can be realized. Ultimately, aligning the interests of investors and healthcare professionals will lead to a future where technology and healthcare work together symbiotically.
The source of the article is from the blog radardovalemg.com