Google's parent company, Alphabet (GOOGL), has just launched a drug discovery company called Isomorphic Labs. What may surprise you is that this is not Alphabet's first rodeo in the health care sector. The company already owns Verily (which develops healthcare software) and Calico (which is looking to extend human life). Isophormic Labs will create new drugs and treatments with the help of AI. The company will be initially supported by London-based AI firm Deep Mind — also acquired by Google back in 2014.
DeepMind already had its own healthcare division. However, after some serious public backlash following a controversial deal with the British National Health Service, thedivision was absorbed into Google in 2018. Now, Alphabet is looking to reignite Deep Mind's potential with the launch of Isophormic Labs.
Why it matters
Alphabet's Isomorphic Labs is a testament to the importance of AI in all sectors of the economy. The announcement comes shortly after Mark Zuckerberg announced the launch of Meta, which is not just a rebranding of Facebook but rather an investment into AI and the "so-called" metaverse.
