"It's not the hot trends that matter, it's the transformative ones!" - Futurist Jim Carroll
Have you ever come to realize that it's usually while you are watching the really hot trend, the really important trend you aren't watching is unfolding at speed?
That's certainly been the case with AI - while everyone has been focused on things like ChatGPT and large language models and text-to-image and text-to-video tools, it's the other big AI trends that are accelerating - and will carry even greater significance. Things like machine learning, expert systems, neural networks, machine vision, advanced robotics, and more - all the things I call the "AI Megatrends."
That's a topic I took on with my recent keynote for KPMG Ireland - and with that in mind, here's a video clip where I'm on stage in Dublin, speaking on the impact of these "AI Megatrends" on the future of healthcare. AI is bigger than large language models - and this clip puts into perspective the disruptive impact of AI on healthcare, medical, and pharmaceutical trials.
The transcript tells the story:
Let's take apart the other part of this voyage - where is this going to take your client organizations? What are the implications of the AI megatrends?
I spent a lot of time writing and thinking and talking about these trends in virtually every single industry, and I call it part of our "BIG future." Every single industry today is in the midst of an absolutely massive transformation.
And the spending on AI is going to be unbelievable.
It is predicted in the world of health care, spending globally on artificial intelligence is going to go from $10 billion in 2022 to $177.4 by 2030.
This is explosive growth.
If you think about the fundamental change occurring in the world of healthcare right now, we fix you after you're sick. But the impact of AI and the impact of genomic medicine and the impact of preventative medicine, the impact of machine learning, machine vision - we are able to predict with a higher degree of accuracy what you are likely to become sick with, and then determine a path of health care based upon that knowledge.
And so the reality of where we are going is there's profound opportunities in medical image analysis, drug discovery, clinical trial design, medical devices - medical devices in which we embed artificial intelligence capabilities into the medical tricorder that we are carrying around with us.
When I was winning with Icon PLC we were talking about the real impact that AI would have upon their business - and they are profound and they are significant.
Where we could identify candidate molecules for particular pharmaceuticals faster, we can do earlier disease diagnosis because A.I. has that interpretive ability. We can predict patient response to treatments. And for Icon PLC, this is solving a massive problem.
It is estimated that today, 80% of clinical pharmaceutical trials fail because they don't meet their enrollment deadlines. 55% of clinical trials are terminated early because they don't get enough patients in them. An 84% failure rate of clinical trials.
And yet, what has already been shown with the implementation of AI in clinical pharmaceutical trials?
Johnson and Johnson, a 20% reduction in the cost of doing the trial. 80% accuracy in predicting the outcomes of particular candidate molecules. These are significant, profound numbers, which takes them into a voyage in which they're determining it's better to disrupt and to be disrupted, because if they don't master these tools, somebody else will.
And there are those who are already doing that.
This little company, Amsety, a liver health solution company, announcing its new artificial intelligence capability to manage the clinical pharmaceutical trial process.
Every single one of your clients in every single industry is now faced with the fundamental strategic issues.
This is but one section of the keynote where I go into the transformative voyage we find ourselves on. With these AI Megatrends, healthcare and medicine are changing. The pharmaceutical industry is changing. Agriculture is changing. Manufacturing is changing. Insurance and finance are changing,
And they aren't just changing - they're transforming.
Stop watching the hot trends.
Watch the trends that matter.
Futurist Jim Carroll provides details of the many talks that he has been doing on the impact of the AI Megatrends at https://jimcarroll.ai