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This AI Founder Became A Billionaire By Building ChatGPT For Doctors
Daniel Nadler has made it a habit of starting companies that revolutionize their industries. Kensho, his first venture, was so successful that S&P bought it for $700 million in 2012. Now, as CEO and cofounder of OpenEvidence, he’s created an AI-powered search tool for doctors that just raised $500 million from investors like Coatue and GV (formerly Google Ventures). The startup aims to make medical research easier and more accurate by tapping into the vast, reliable information contained within reputable journals.
Nadler teamed up with his Kensho colleague Peter Kruskall in 2021 to co-found OpenEvidence with Harvard Ph.D. student Aneesh Singhal. Together, they came up with an idea that AI was not being used effectively for doctors despite its tremendous potential.
When I started Kensho, there were no good search engines like Google or Bing. Now, you have these incredible chatbots like ChatGPT. But the way ChatGPT stops short in terms of asking follow-up questions and doing real research is very limited.
In healthcare, you can’t just give doctors a list of articles to read; it needs to go much deeper. So we said, “What if our AI could be trained on all these journals and databases?” Nadler explained.
OpenEvidence started out by working with Mayo Clinic’s prestigious accelerator program for health tech startups. This partnership helped the company refine its idea and improve its technology at one of the world’s top hospitals. It also allowed OpenEvidence to tap into Mayo Clinic’s vast dataset, which includes information about patients’ lab results, data from medical devices like blood glucose monitors, and electronic health records.
While we were still in the accelerator program, my partner Ziegler and I realized that the most important thing we could do was to provide a tool that made it easy for doctors to have a team of M.D. Ph.D.s available to them whenever they needed it.
Source: www.forbes.com
