PERTH, Australia – It's likely that Australia will not draft separate guidance or regulations for software applications that use artificial intelligence or machine learning (AI/ML) for drug development or medical devices.

HONG KONG – South Korea is actively working to expand its artificial intelligence (AI) capabilities in health care, but outdated regulations and concerns over privacy and profit sharing are proving to be significant stumbling blocks.

As a cautious swimmer slips slowly into the cool waters of a giant swimming pool so do biopharma executives: They tread into the murky abyss known as artificial intelligence (AI).

Artificial intelligence (AI) is a technology that takes over when the human brain has reached its limit. For medical technology companies, it could help in the creation of more precise tools and devices that support diagnostic, therapeutic and surgical decisions. Instead of shooting an arrow into the sky, the bullseye target is clear, backed up by volumes of data and a machine learning algorithm designed to pinpoint the biomarker, the abnormality and the probability of success.

Researchers from Johns Hopkins University School of Medicine have developed a machine learning program that could score the risk of pancreatic cysts and recommend one of three treatment strategies – surgery, watchful waiting or discharge without follow-up – more accurately than current methods. The program could potentially reduce the number of unnecessary surgeries performed on pancreatic cysts with little to no potential of turning cancerous.

Some new investors pitched in to Recursion Pharmaceuticals Inc.'s $121 million series C financing, adding to the industry's vision of the importance of AI and machine learning.