News and Events Category: In the News

Half of all Americans live with at least one chronic disease, such as heart disease, cancer, stroke, or diabetes. Chronic diseases—which are, broadly defined, health conditions that persist for 1 year or longer, that typically require ongoing medical attention, and that can interfere with the activities of daily living (CDC, 2021b)—are a major health concern in the United States and around the world. Chronic diseases are the leading cause of death and disability in the United States and are a leading driver of health care costs (CDC, 2021a).
When MIT mathematician Jim Simmons founded Renaissance Technologies in 1988, it was unfathomable that computers driven by algorithms might outperform top Wall Street fund managers. Today, after a more than thirty year average return of 66% per annum, the Renaissance model of applying machine learning techniques to invest in a manner that is automated, dispassionate and performed with minimal human intervention is widely accepted. Quantitative finance, as it is dubbed, has profoundly reshaped the financial industry.
Through the use of artificial intelligence and concepts including machine and deep learning, the life sciences sector is seeing unprecedented levels of speed and efficiency in finding new drug candidates and pushing them towards commercialization. Yet integrating the complexity of AI and big data into healthcare still presents problems and challenges whether from a financing point of view or operationally.