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This is a short talk by Matt Kropp, CTO OF BCG X. Kropp was one of a dozen remarkable innovators who spoke at an event which addressed the question “How Can AI Accelerate Progress in the Bio World?” The event was part of a series of events called The AI Age Begins and was held at the Shack15 club in the Ferry Building of San Francisco in June of 2024. The series is hosted, created, and produced by Reinvent Futures. Summary: Kropp highlights common misconceptions about AI, arguing that it is often mistakenly viewed as a tool for cost savings and labor replacement. Instead, AI should be seen as a means to enhance efficiency and drive innovation. Examples from the pharmaceutical industry illustrate this point: AI can significantly reduce the time required for clinical trial report writing and enable virtual nursing, thereby accelerating drug market entry and improving patient support. Kropp emphasizes that AI's true value lies in its ability to enable new possibilities and supercharge human potential, rather than merely reducing costs. Summary created by AI You can find out more about The AI Age Begins series of events through the written essays in the Substack publication The Great Progression here: https://peterleyden.substack.com You can find out more about the strategic foresight company Reinvent Futures that hosted, created and produced the events here: https://www.reinvent.net