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[N] IBM halting sales of Watson AI tool for drug discovery amid sluggish growth

Citing lackluster financial performance, IBM is halting development and sales of a product that uses its Watson AI software to help pharmaceutical companies discover new drugs, news outlet Stat reported on Thursday, citing a person familiar with the company’s internal decision-making. From the report:

The decision to shut down sales of Watson for Drug Discovery marks the highest-profile retreat in the company’s effort to apply artificial intelligence to various areas of health care. Last year, the company scaled back on the hospital side of its business, and it’s struggled to develop a reliable tool to assist doctors in treating cancer patients.

In a statement, an IBM spokesperson said, “We are focusing our resources within Watson Health to double down on the adjacent field of clinical development where we see an even greater market need for our data and AI capabilities.”

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Toronto AI is a social and collaborative hub to unite AI innovators of Toronto and surrounding areas. We explore AI technologies in digital art and music, healthcare, marketing, fintech, vr, robotics and more. Toronto AI was founded by Dave MacDonald and Patrick O'Mara.