AI is rapidly transforming life sciences, with the global AI market in this sector projected to grow from $2.3 billion in 2023 to $7.09 billion by 2028. Life sciences companies must embrace AI to remain competitive, as it enhances drug development, supports early disease diagnosis, identifies clinical trial candidates, and optimizes marketing. Despite excitement, challenges include data security (76%), data quality (67%), and ethical concerns (54%). A 2023 survey of 85 industry leaders revealed growing AI adoption, though many acknowledge knowledge gaps. Companies integrating AI effectively can accelerate growth and improve patient outcomes.

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