COVID-19 Pandemic Impact: Global R&D Spend For AI in Healthcare and Pharmaceuticals Will Increase US$1.5 Billion By 2025

Posted by ABI Research on Apr 15, 2020

ABI Research whitepaper identifies the short-and long-term impacts the global pandemic will have on Artificial Intelligence and Machine Learning

OYSTER BAY, N.Y., April 15, 2020 /PRNewswire/ -- The Coronavirus outbreak has proven that healthcare institutions can no longer ignore the role of Artificial Intelligence (AI) in their daily workflow. AI spending in the healthcare and pharmaceutical industries is expected to increase from US$463 million in 2019 to more than US$2 billion over the next 5 years, states global tech market advisory firm, ABI Research.

"Artificial Intelligence is playing a key role in responding to the pandemic," says Lian Jye Su, Principal Analyst at ABI Research. Several companies, including Alibaba, YITU, Graphen, and Google DeepMind, are already developing AI tools to help detect the virus, diagnose its evolution, track its geographical footprint, project its future, and even predict its potential protein structure to find a vaccine for it.

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