Concluding thoughts

The US spent a record 20% of its GDP on healthcare in 2020. While the costs are high, it is also promising to note that a large portion of that budget has been used for the modernization of the healthcare and life sciences technology landscape. Overhauling any existing domain with technology does require some upfront investment and time. The long-term return on these investments is expected to overshadow the costs in the shorter term. For example, investments like these have led to a decrease in cancer deaths in the US. A report published by the American Association for Cancer Research (https://cancerprogressreport.aacr.org/wp-content/uploads/sites/2/2022/09/AACR_CPR_2022.pdf) found that deaths from cancer have decreased by 2.3% every year between 2016 and 2019 and is on a downward trend. These statistics make me more optimistic that technology, specifically AI and ML, can have a meaningful impact on our health and wellness. Easier access to technology and the proof...