2 Artificial Intelligence (AI) in Healthcare Stocks to Buy and Hold for Great Long-Term Potential

Investors are increasingly interested in the potential of artificial intelligence (AI) to revolutionize various industries, with healthcare being a key area of focus. AI has the ability to address the major challenge of lengthy drug development timelines, leading to the creation of better drugs and medical devices that can ultimately improve patient outcomes.

Companies at the forefront of AI in healthcare stand to benefit significantly, with the market projected to grow at a compound annual rate of 48% to reach $148 billion by 2029. This presents a great opportunity for investors to capitalize on the potential growth of this sector.

Two notable stocks in the AI in healthcare space are Moderna (NASDAQ: MRNA) and Medtronic (NYSE: MDT). Moderna, known for its successful coronavirus vaccine, is leveraging AI in its research and development processes to accelerate the development of new medicines. By partnering with technology giant IBM, Moderna aims to enhance its capabilities in predicting molecular properties and bringing products to market faster.

Similarly, Medtronic, a leading medical device company, has already launched several AI-powered products that have the potential to enhance patient outcomes and improve surgical performance. With a focus on personalized medicine and a dedicated AI center of excellence, Medtronic is well positioned to lead in the AI healthcare market.

Both Moderna and Medtronic offer long-term growth potential for investors, as they continue to innovate and expand their presence in the AI healthcare space. Despite current challenges, these companies show promise in leveraging AI to drive future success.