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Artificial Intelligence

AI in Genomics Market to Worth US$ 16,272 Million by 2031 | Growth Plus Reports

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Newark, New Castle, USA, May 08, 2023 (GLOBE NEWSWIRE) — According to a new Growth Plus Reports study, the AI In Genomics Market is estimated to hit US$ 16,272 million by 2031, with a revenue CAGR of 49.70%. The study analyzes the important strategies, drivers, competition, market dynamics, size, and important investment regions.

Key Takeaways:

  • The increasing demand for novel and personalized medicine will drive market revenue growth.
  • Increasing funding for genomics research will drive demand for AI in Genomics.
  • North America dominates the global AI in Genomics market. 

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                                               AI in Genomics Market Scope

Report Attribute Details
Market Size Value in 2022 US$ 446.84 Million
Revenue Forecast in 2031 US$ 16,272 Million
CAGR 49.10%
Base Year for Estimation 2022
Forecast Period 2023 to 2031
Historical Year 2021
Segments Covered Component, Technology, Functionality, Application, End User, and Region
Regional Scope North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Market Drivers

The increased demand for personalized medicine will drive the revenue growth of AI in Genomics market. Furthermore, advancements in machine learning and increased adoption of AI in Genomics are expected to boost the market revenue growth rate. Additionally, increased funding for genomics research is expected to support the market’s revenue growth.

Market Segmentation
Growth Plus Reports has analyzed global AI in Genomics market from six perspectives: Component, Technology, Functionality, Application, End User, and Region.

Component Segmentation: Based on the component, the AI in Genomics market is segmented into hardware, software, and services. The software segment dominates the market with the largest revenue share because of the rising usage of AI-based software for genomics by healthcare companies, R&D centers, and patients.

Technology Segmentation: Based on the technology, the AI in Genomics market is segmented into computer vision and machine learning. The machine learning segment dominates the market because machine learning techniques allow computers to learn from data and make predictions or choices.

Functionality Segmentation: Based on the functionality, the global AI in Genomics market is segmented into genome sequencing, gene editing, and others. The genome sequencing segment dominates the market because AI algorithms extract valuable insights from the massive volumes of data generated by genome sequencing.

Application Segmentation: Based on the application, the AI in Genomics market is segmented into drug discovery & development, precision medicine, diagnostics, and others. The drug discovery & development segment dominates the market because of the increased demand for pharmaceuticals and the high usage of AI algorithms in drug research and development to create new therapies based on genetic data.

End User Segmentation: Based on the end user, the AI in Genomics market is segmented into pharmaceutical and biotech companies, healthcare providers, research centers, and others. The pharmaceutical and biotech companies segment dominates the market because they employ AI algorithms extensively to analyze genetic data and produce novel medications and cures.

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Regional Growth Dynamics
Based on the region, the global AI in Genomics market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

North America dominates the AI in Genomics market with the largest revenue share. The presence of prosperous research institutes and biotechnology companies and increased investment in developing new and innovative technologies are the responsible for North America’s lrevenue share in the global market.  

Competitive Landscape

The key players in the global AI in Genomics market are:

· IBM
· Microsoft Corporation
· NVIDIA Corporation
· Data4Cure, Inc.
· Thermo Fisher Scientific
· SOPHiA GENETICS
· FDNA INC.
· Engine Biosciences Pte. Ltd.
· Fabric Genomics
· Verge Genomics
· Lifebit Biotech Ltd.
The market for AI in Genomics is moderately competitive, with several multinational companies. Major competitors engage in technological advancements, R&D, and mergers and acquisitions to enhance their market position.

Recent developments:

  • Zurich researchers developed a new tool in February 2023 that uses artificial intelligence to predict the effectiveness of various genome-editing repair methods. Unintentional errors in the repair of genetic illness DNA mutations can therefore be avoided.
  • WhiteLab Genomics, a Y-Combinator-backed AI-powered predictive software simulation platform for researching gene and cell therapies, received $10 million in funding in September 2022.

Table of Content

  1. INTRODUCTION
    1. Market Ecosystem
    2. Timeline Under Consideration
      1. Historical Years – 2021
      2. Base Year – 2022
      3. Forecast Years – 2023 to 2031
    3. Currency Used in the Report
  2. RESEARCH METHODOLOGY 
    1. Research Approach
    2. Data Collection Methodology
    3. Data Sources
      1. Secondary Sources 
      2. Primary Sources 
    4. Market Estimation Approach
      1. Bottom Up 
      2. Top Down 
    5. Market Forecasting Model
    6. Limitations and Assumptions
  3. PREMIUM INSIGHTS
    1. Current Market Trends (COVID-19 Perspective)
    2. Key Players & Competitive Positioning (2022) 
  4. MARKET DYNAMICS
    1. Drivers
    2. Restraints/Challenges
    3. Opportunities
  5. GLOBAL AI IN GENOMICS MARKET – ANALYSIS & FORECAST, BY COMPONENT
    1. Hardware
    2. Software
    3. Services
  6. GLOBAL AI IN GENOMICS MARKET – ANALYSIS & FORECAST, BY TECHNOLOGY
    1. Machine Learning     
      1. Supervised Learning
      2. Unsupervised Learning
      3. Deep Learning
      4. Others
    2. Computer Vision
  7. GLOBAL AI IN GENOMICS MARKET – ANALYSIS & FORECAST, BY FUNCTIONALITY
    1. Genome Sequencing
    2. Gene Editing
    3. Others
  8. GLOBAL AI IN GENOMICS MARKET – ANALYSIS & FORECAST, BY APPLICATION
    1. Drug Discovery & Development
    2. Precision Medicine
    3. Diagnostics
    4. Others

AI IN GENOMICS MARKET TOC

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VALUE PROPOSITIONS RELATED TO THE REPORT:

  • Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
  • Comprehensive quantitative and qualitative insights at segment and sub-segment level
  • Covid 19 impact trends and perspective
  • Granular insights at global/regional/country level
  • Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
  • Blanket coverage on competitive landscape
  • Winning imperatives
  • Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market

CUSTOMIZATION OPTIONS:

  • Distributor Landscape Assessment
  • Pricing Intelligence
  • Customer Base Assessment
  • Investment & Initiatives Analysis
  • ‘Business Profile’ of Key Players

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Artificial Intelligence

$10 million Artificial Intelligence Mathematical Olympiad Prize appoints further advisory committee members

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D. Sculley, Kevin Buzzard, Leo de Moura, Lester Mackey and Peter J. Liu appointed to the advisory committee for the Artificial Intelligence Mathematical Olympiad Prize.
LONDON, April 26, 2024 /PRNewswire/ — XTX Markets’ newly created Artificial Intelligence Mathematical Olympiad Prize (‘AIMO Prize’) is a $10mn challenge fund designed to spur the creation of a publicly shared AI model capable of winning a gold medal in the International Mathematical Olympiad (IMO).

XTX Markets is delighted to announce the appointment of five further advisory committee members. This group brings great expertise in machine learning, including D. Sculley, the CEO of Kaggle; Lester Mackey, a Principal Researcher at Microsoft Research and a Macarthur Fellow; and Peter J. Liu, a research scientist at Google DeepMind.
Prolific mathematicians Kevin Buzzard, who achieved a perfect score in the International Mathematical Olympiad, and Leo De Moura who is the Chief Architect for Lean, the automated reasoning tool, also join the advisory group.
They join the existing advisory committee members Terence Tao and Timothy Gowers, both winners of the Fields Medal, as well as Dan Roberts, Geoff Smith and Po-Shen Loh.
The AIMO Advisory Committee will support the development of the AIMO Prize, including advising on appropriate protocols and technical aspects, and designing the various competitions and prizes.
Simon Coyle, Head of Philanthropy at XTX Markets, commented:
“We are thrilled to complete the AIMO Advisory Committee with the appointments of D., Kevin, Leo, Lester and Peter. Together, they have enormous experience in machine learning and automated reasoning and are already bringing expertise and wisdom to the AIMO Prize. We look forward to announcing the winners of the AIMO’s first Progress Prize soon, and then publicly sharing the AI models to support the open and collaborative development of AI.”
Further information on the AIMO Prize
There will be a grand prize of $5mn for the first publicly shared AI model to enter an AIMO approved competition and perform at a standard equivalent to a gold medal in the IMO. There will also be a series of progress prizes, totalling up to $5mn, for publicly shared AI models that achieve key milestones towards the grand prize.
The first AIMO approved competition opened to participants in April 2024 on the Kaggle competition platform. The first progress prize focuses on problems pitched at junior and high-school level maths competitions. There is a total prize pot of $1.048m for the first progress prize, of which at least $254k will be awarded in July 2024, There will be a presentation of progress held in Bath, England in July 2024, as part of the 65th IMO.
For more information on the AIMO Prize visit: https://aimoprize.com/ or the competition page on Kaggle: https://www.kaggle.com/competitions/ai-mathematical-olympiad-prize/
Advisory Committee member profiles:
D. Sculley
D. is the CEO at Kaggle. Prior to joining Kaggle, he was a director at Google Brain, leading research teams working on robust, responsible, reliable and efficient ML and AI. In his career in ML, he has worked on nearly every aspect of machine learning, and has led both product and research teams including those on some of the most challenging business problems. Some of his well-known work involves ML technical debt, ML education, ML robustness, production-critical ML, and ML for scientific applications such as protein design.
Kevin Buzzard
Kevin a professor of pure mathematics at Imperial College London, specialising in algebraic number theory. As well as his research and teaching, he has a wide range of interests, including being Deputy Head of Pure Mathematics, Co-Director of a CDT and the department’s outreach champion. He is currently focusing on formal proof verification, including being an active participant in the Lean community. From October 2024, he will be leading a project to formalise a 21st century proof of Fermat’s Last Theorem. Before joining Imperial, some 20 years ago, he was a Junior Research Fellow at the University of Cambridge, where he had previously been named ‘Senior Wrangler’ (the highest scoring undergraduate mathematician). He was also a participant in the International Mathematical Olympiad, winning gold with a perfect score in 1987. He has been a visitor at the IAS in Princeton, a visiting lecturer at Harvard, has won several prizes both for research and teaching, and has given lectures all over the world.
Leo de Moura
Leo is a Senior Principal Applied Scientist in the Automated Reasoning Group at AWS. In his spare time, he dedicates himself to serving as the Chief Architect of the Lean FRO, a non-profit organization that he proudly co-founded alongside Sebastian Ullrich. He is also honoured to hold a position on the Board of Directors at the Lean FRO, where he actively contributes to its growth and development. Before joining AWS in 2023, he was a Senior Principal Researcher in the RiSE group at Microsoft Research, where he worked for 17 years starting in 2006. Prior to that, he worked as a Computer Scientist at SRI International. His research areas are automated reasoning, theorem proving, decision procedures, SAT and SMT. He is the main architect of several automated reasoning tools: Lean, Z3, Yices 1.0 and SAL. Leo’s work in automated reasoning has been acknowledged with a series of prestigious awards, including the CAV, Haifa, and Herbrand awards, as well as the Programming Languages Software Award by the ACM. Leo’s work has also been reported in the New York Times and many popular science magazines such as Wired, Quanta, and Nature News.
Lester Mackey
Lester Mackey is a Principal Researcher at Microsoft Research, where he develops machine learning methods, models, and theory for large-scale learning tasks driven by applications from climate forecasting, healthcare, and the social good. Lester moved to Microsoft from Stanford University, where he was an assistant professor of Statistics and, by courtesy, of Computer Science. He earned his PhD in Computer Science and MA in Statistics from UC Berkeley and his BSE in Computer Science from Princeton University. He co-organized the second place team in the Netflix Prize competition for collaborative filtering; won the Prize4Life ALS disease progression prediction challenge; won prizes for temperature and precipitation forecasting in the yearlong real-time Subseasonal Climate Forecast Rodeo; and received best paper, outstanding paper, and best student paper awards from the ACM Conference on Programming Language Design and Implementation, the Conference on Neural Information Processing Systems, and the International Conference on Machine Learning. He is a 2023 MacArthur Fellow, a Fellow of the Institute of Mathematical Statistics, an elected member of the COPSS Leadership Academy, and the recipient of the 2023 Ethel Newbold Prize.
Peter J. Liu
Peter J. Liu is a Research Scientist at Google DeepMind in the San Francisco Bay area, doing machine learning research with a specialisation in language models since 2015 starting in the Google Brain team. He has published and served as area chair in top machine learning and NLP conferences such as ICLR, ICML, NEURIPS, ACL and EMNLP. He also has extensive production experience, including launching the first deep learning model for Gmail Anti-Spam, and using neural network models to detect financial fraud for top banks. He has degrees in Mathematics and Computer Science from the University of Toronto.
About XTX Markets:
XTX Markets is a leading financial technology firm which partners with counterparties, exchanges and e-trading venues globally to provide liquidity in the Equity, FX, Fixed Income and Commodity markets. XTX has over 200 employees based in London, Paris, New York, Mumbai, Yerevan and Singapore. XTX is consistently a top 5 liquidity provider globally in FX (Euromoney 2018-present) and is also the largest European equities (systematic internaliser) liquidity provider (Rosenblatt FY: 2020-2023).
The company’s corporate philanthropy focuses on STEM education and maximum impact giving (alongside an employee matching programme). Since 2017, XTX has donated over £100mn to charities and good causes, establishing it as a major donor in the UK and globally.
In a changing world XTX Markets is at the forefront of making financial markets fairer and more efficient for all.
 

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Artificial Intelligence

Hikvision redefines urban mobility with AIoT-powered solutions at Intertraffic 2024

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HANGZHOU, China, April 26, 2024 /PRNewswire/ — Hikvision made a significant appearance at Intertraffic Amsterdam, the leading global trade fair for mobility and traffic technology. At the trade event, Hikvision unveiled a suite of traffic, transport, and parking management solutions and products powered by Artificial Intelligence of Things (AIoT) technology, which promised to improve urban mobility, road safety, and operational efficacy.

Elevating urban traffic intelligence with AIoT
One highlight of the Hikvision stand was its intelligent urban traffic solution, which leveraged the power of AIoT to deliver comprehensive real-time monitoring, incident detection, and traffic control. This solution intelligently reshapes traffic dynamics, offering a more responsive and data-driven approach to enhance situational awareness and traffic management. Key innovations in the solution included:
Hikvision’s radar-video fusion camerasThese combine the range perception of radar with the visual perception of video. The 4 MP Radar and Video Vehicle Detector, for example, helps to enhance road safety by providing early warning of potential hazards in challenging situations such as blind spots at intersections and obstacles outside the visual range.Hikvision’s All-In-One Traffic SpotterThis stands out with its multifaceted design incorporating video, radar, and lighting technologies for heightened traffic violation detection. Its streamlined column design facilitates effortless installation.Hikvision’s Radar-Linked PTZ Camera This ensures consistent performance in adverse weather and lightening conditions, and minimizes false alarms with advanced deep-learning algorithms.Innovating parking management
Hikvision also introduced its parking management solutions. These combine extremely precise license plate recognition and intelligent barrier controls incorporating highly accurate radar sensors. This comprehensive approach enhances security, reduces the need for manual intervention, and streamlines traffic flow across parking areas. The Global Shutter CMOS* (GMOS) ANPR camera was a new addition to the lineup. Designed to seamlessly blend in the environment, it is tailored for the task of discreetly capturing license plates at parking facilities that prioritize subtlety.
Advancing public transportation safety and efficiency
Attendees also had the opportunity to explore Hikvision’s latest public transport solutions, integrating AI-driven analytics with advanced video security, on-site voice broadcasting, and centralized management for enhanced onboard security, improved passenger experience, and operational efficiency for buses and taxis. This included the Four-way monitoring system and the Panoramic Auxiliary System, both designed to reduce blind spots and provide high-definition imaging to improve driving safety.
“As ever, we are continually expanding our suite of technologies to enhance traffic safety and efficiency,” said Nick Wu, Project Product Director at Hikvision Europe. “Our commitment lies in minimizing the need for extensive roadside installations by incorporating comprehensive perception and robust AI within unified device frameworks. These innovations automate and streamline every aspect of traffic management, from violation detection to traffic flow monitoring, driving safety, and parking management.”
To find out more about Hikvision’s urban mobility products and solutions, please explore its official website.
Note: CMOS stands for Complementary Metal-Oxide-Semiconductor.
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Artificial Intelligence

London Blockchain Conference Launches the No Future Campaign

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LONDON, April 26, 2024 /PRNewswire/ — The London Blockchain Conference is excited to announce the launch of its ground-breaking, ‘No Future Campaign’. This initiative aims to create a strong narrative surrounding blockchain technology by challenging perceptions and sparking conversations. By creating this platform, the campaign aims to instil a fear of missing out (FOMO) sensation among the audience, positioning the London Blockchain Conference as a gateway to securing a stake in the future and unlocking the potential of blockchain technology.

With a bold and evocative narrative theme, the campaign will initially confront the audience with a jarring reality check of “NO FUTURE” and then resolve the statement “WITHOUT BLOCKCHAIN” to spark curiosity and engagement with the optimistic revelation that blockchain holds the key to a prosperous future.
The ‘No Future Campaign’ started on 17 April 2024 with the London Blockchain Conference creating and executing content on/with media platforms and partnerships:
Wharf Life inserts (17/04/2024) – Print and a digital advert/editorial-sponsored pieces.Animations being released on paid and organic channels in a 3-week campaign.Alex Stein, Conference Director said, “The No Future Campaign is a call for individuals, enterprises, and governments to recognise the importance and role of blockchain in shaping the future. Through the London Blockchain Conference, we aim to educate and inspire attendees to understand and harness the potential of blockchain technology.”
The three-day London Blockchain Conference at the ExCel will bring together politicians, business leaders, and innovators. The conference will be running from 21 – 23 May 2024 and will focus on disruptive and real-world applications of blockchain technology and the impact it is having on politics, emerging technologies, and enterprises.
For more information about the ‘No Future campaign’, visit the London Blockchain Conference website.
About the London Blockchain Conference
NETWORK. LEARN. ENGAGE. 
 At the London Blockchain Conference, we show how Blockchain will change the world and help people see another way to manage data, build scalable on-chain solutions and achieve great things. We do this by creating valuable, insightful, and engaging events that educate and inform, allowing you to connect and network to build strong business relationships. Our conference is the best avenue to see blockchain innovations, ecosystem announcements, product launches, technology updates, keynote speeches, panels, and fireside chats from blockchain leaders. Join us and experience it for yourself. 
 
 

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