Bioinformatics is the application of computer technology to manage biological information. It involves gathering, storing, analyzing, and integrating genetic data. This allows for gene-based drug discovery and personalized medicine. The document outlines several key applications of bioinformatics such as diagnosing hereditary diseases, developing drug targets, and performing gene therapy. It also discusses trends like integrating genomic data into electronic health records, direct-to-consumer genetic testing services, and large-scale population studies. Challenges include disease commonality, lack of treatment options, and cost effectiveness of genetic tests.