There are three basic business models in bioinformatics:
Licencing of insights
Selling a tool
In the consultancy model, you are being paid for your time and expertise. The risk lies with the payer (employer) in this case. There is no guarantee that you will come up with anything useful. Therefore your margins are also low.
Randomised controlled trials (RCTs) have been the gold standard for statistical evidence, of treatment effect, for over 100 years. Their strength is in their attempt to avoid major sources of bias in a comparison of the evidence. However, they are costly to run, particularly in the domain of personalised medicine, to which medical AI products typically belong.
There is a growing awareness in the field of immunology of the potential for using mathematical techniques. The wedge-issue here is the cascade of data appearing via new cytometry techniques; large-data looks like a math issue to most people. I of course come from the other side of a spectrum – everything looks like a math issue to me – I wanted to stimulate drug development which engages with immune system dynamics by founding my company.
I have a short thought, stemming from a combination of projects that I’m working on at the moment, and I want to share it.
The current trend towards Causality in AI is very attractive to people like me. It matches our personal biases and views of the world. However, it is lacking a natural heuristic. How do we decide how much resources to devote to alternative models of the world, as we gather evidence as to their accuracy?
Like I say, I have a number of parallel projects, many of which address exactly this question on technical and biological levels.
There is something from the world of business, studying entrepreneurship, which might be a better heuristic than any normative model I can come up with. Effectual entrepreneurship is a perspective on entrepreneurship, studying highly successful repeat entrepreneurs (eg. Elon Musk), which establishes control, rather than planning, at the core of entrepreneurial activities.
First a mea culpa, I have a huge backlog of relatively heavy articles that I really want to add to the blog. But I’ve been busy getting married – congratulations to me – and I didn’t have enough time. I strongly believe in following relatively strict guidelines on writing and editing articles, where I set myself deadlines and avoid over-writing on topics – it is just a blog after all – but for deep insights I do also have a minimum standard that I want to be able to produce before I’m willing to hit the Publish button.
I am beginning a new project this week, the topic is Causal Inference. This is something I have been reading about, and wrestling with, for quite some time. Now seems a good point to take some time out, form a project, and see what I can get done on the topic.
This topic occurred to me following my recent talk at a dental conference at Charité Berlin. Upon hearing that I have a strong interest in inference, my fellow keynote mentioned that it drives him crazy that random forests, and similar algorithms, work so much better than DNNs on genomic data. He challenged me to come up with a reason for why this is the case.
I think that I know why. The problem I have is that I suspect that I can never prove it. That issue of not being able to prove things in machine learning is probably an equally interesting topic, for a future article, but here I want to address my theory of why random forests work better than DNNs for analysing genome data.
How do I really feel about this topic? I think that I can only work out the answer to this question by writing about it.
My suspicion is that those who shout loudest about personalised medicine know least about it. I fear that the promises being made publicly are categorically not possible. My hope is that I am wrong on this.
Apparently, it’s that time again. I just gave my second invited keynote at a conference at Charité Berlin. It was really fun.
The audience were dentists – academic dentists. I confess that I struggled to understand why they thought I would be a good fit for their conference. My previous keynote was at the BIH Digital Health Forum – a much more obviously appropriate audience. But, perhaps strangely, the fit was very good.
When I sat down in Summer 2018 to begin my blog one of my goals was to write approximately 5 definitive articles about Mathematics and Biology. So far, I have been pretty hard on the efforts in both fields to come together. I began with a review of the very different world-views inherent in the two subjects – combined with a call to arms for likeminded people to come and help out. I followed this with a more practical consideration of the repertoire of techniques necessary and the career constraints, which actively work against combining these two disciplines. Today I want to consider the shining example of bioinformatics – the one area in which mathematics is clearly being used in biology and which demonstrates a clear career path.