The pharma industry is embracing artificial intelligence (AI) to streamline drug discovery and development, although adoption remains early. The field, however, is rapidly expanding. The global AI in drug discovery market was worth about $1.1 billion last year but could grow at a 30% clip from 2023 to 2030, according to Grand View Research.

Doctors, researchers, and entrepreneurs alike have been focused on how AI can improve the health care system. AI-enabled health startups raised nearly $10B in funding in 2021 and more than $3B in the first half of 2022. From new body imaging devices to oncology platforms, some trailblazing AI development services companies are already changing how millions of people receive care.

In this article, we explain how some of the world leaders in the biotechnology industry are using AI to their benefit.

These are six startups that have had a banner year disrupting a variety of healthcare areas, from drug discovery and operational efficiency to disease detection and cell biology research.

According to market projections, the global AI in healthcare market is expected to reach $12.63 billion by the end of 2023, and this figure should grow even further to an impressive $187.76 billion by 2031. Given that healthcare technology is a relatively new industry and many Health- and MedTech startups emerge or raise substantial funding virtually every week, these projections will likely continue to change.

Here are the 100 largest medtech companies by 2022 revenue, according to an analysis by Medical Design and Outsourcing.

In this post we have summarized an alphabetically-ordered list of 9 biotech companies that were founded in 2021-2023 and are developing innovative AI-powered solutions either for internal use or as a part of service offering to clients.

Integration of AI in the biotech industry has brought about a revolution in the healthcare sector. 2023 has witnessed a surge in the number of biotechnology companies utilizing artificial intelligence to streamline operations, enhance drug discovery and development, and improve patient outcomes. The use of AI in biotech has opened up new avenues for personalized medicine, predictive diagnostics, and cutting-edge research. In this article, we take a look at the top AI-enabled biotech companies leading the charge in the integration of AI and biotechnology.

Today, those techniques have matured, and their combined forces are beginning to pay off for AI-driven drug discovery companies — if not yet for the patients clamoring for new medicines. Companies that promise to speed up pharmaceutical development with algorithms are raking in enormous investments as they establish partnerships with the world’s biggest drug companies, capitalizing on new strategies to discover targets, design molecules, and predict clinical trial outcomes.

Drug development is complicated business. Medicinal chemists, many who have spent nearly a decade training in the halls of academia, are tasked with painstakingly synthesizing each and every molecule that could potentially have a therapeutic effect. These compounds need to then be screened in cells just to make sure they’re not just straight-up toxic, with the small possibility that they have some statistically significant effect on a model of a diseased cell.