<p>Artificial Intelligence (AI) is revolutionizing biotechnology by accelerating advancements in drug discovery, genomics, medical imaging, and personalized medicine, thereby enhancing efficiency and reducing healthcare costs. This review emphasizes the transformative potential of multimodal AI—systems that integrate diverse data types such as genomic, clinical, and imaging data—to deliver more accurate and holistic biomedical insights. We explore AI’s economic impact, role in driving innovation, and implications for both researchers and policymakers. Additionally, the review addresses key challenges, including data quality, algorithmic transparency, and ethical concerns, highlighting the urgent need for explainable AI models, robust regulatory frameworks, and equitable implementation to ensure responsible and impactful adoption across global healthcare systems.</p><p></p>