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As early adopters of artificial intelligence (AI), healthcare and life science organizations are among the most enthusiastic and advanced users of generative AI. The transformative technology has undergone a remarkable evolution in the past year, propelling innovations once considered science fiction into reality – with the potential to transform these industries and significantly improve patient outcomes and experiences. The stakes are high: generative AI could generate up to $360 billion in annual U.S. healthcare savings and $60-110 billion in annual value for pharma and medtech. However, keeping pace with this rapidly evolving technology landscape can be dizzying for organizations. A recent survey of health system executives found 75% believe this technology can reshape the industry, yet only 6% have an established strategy, with “lack of expertise” and “resource constraints” cited as the top barriers.
We will be discussing these opportunities and barriers at our upcoming AWS Life Sciences Leaders Symposium in Boston on May 2. This annual event presents an opportune moment to reflect on and look ahead at the profound impact generative AI is having on the healthcare and life sciences industry. This blog post marks the beginning of a series that will explore the impact across the entire healthcare and life sciences spectrum, deep-diving into use cases, sharing technical insights, highlighting solutions, and showcasing customer success stories. In this first blog, I’ll cover three emerging areas where healthcare and life science customers are focusing their generative AI strategies and investments, but let’s first step back and examine just how much has changed over the past year.