Artificial intelligence is the ability of a system to think like humans, discover the meaning, and execute the tasks. Recent advancements in the AI in drug discovery market (e.g. deep learning technology, machine learning) have contributed to an invariable increase in the popularity of this technology across several othe industries as well, having impacted the healthcare domain at a significant scale. Machine learning is one of the essential concepts that has significantly driven progress in the development of artificial intelligence. It is a field of study imparting computers with the ability to think without being explicitly programmed. The typical workflow of a machine learning framework is highlighted below.
The exponential growth in the applications of machine learning can be attributed to multiple reasons. In addition to the advances in processing power of computing machines and the development of smarter algorithms, big data is considered to be one of the key drivers of growth in this segment. Big data is actively being explored across the healthcare and life science sectors in addition its applications in the existing banking and retail sectors. Big data holds great promise in terms of its potential applications in the healthcare industry as mentioned below.
Deep learning technology is a complex machine learning algorithm that uses a neural network of interconnected nodes / neurons in a multi-layered structure, thereby enabling the interpretation of large volumes of unstructured data to generate valuable insights. The mechanism of this technique mimics the interpretation ability of human beings, making it a promising approach for big data analysis. The potential applications of deep learning technology are currently being explored in multiple sectors of the healthcare domain. Personalized medicine, lifestyle management, drug discovery, clinical trial management, public health management, medical image processing and diagnostics are some of the key areas for which deep learning technology is being developed.
Deep learning technology offers great promise in the healthcare sector, as a result of which, various technology developers are shifting their focus towards this industry. however, unlike the environment observed in the technology industry, where an unsuccessful model can be easily improved in subsequent versions, the models developed for healthcare sectors have to be the best versions of themselves in order to achieve success. This can be attributed to the fact that the healthcare field is highly regulated and hence, demands significant resources and capital for the launch of any new product. In a nutshell, deep learning technology has evolved as an excellent computational resource, that has the ability to process a large amount of data using neural networks. Deep learning is a rapidly evolving segment of artificial intelligence, and these both are believed to greatly influence the creation of new business models. Owing to the various advantages offered by artificial intelligence based algorithms, the deep learning market is anticipated to witness a healthy growth over next decade.
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