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Precision medicine has the potential to make both diagnosis and treatment of disease more efficient and more effective. Although individualizing medical care is not a new concept, precision medicine’s ability to identify diseases early, and to tailor treatments that align with a patient’s genetic characteristics more accurately, promises a substantial improvement over the one-size-fits-all approach often used today. However, the success of precision medicine is reliant upon patient uptake of genetic testing, and recruiting a cohort of demographically diverse patients to develop treatments for a wide selection of patient subgroups. To do so, historically low rates of research participation among minorities must be overcome. Therefore, this study used an online survey to assess current levels of public knowledge, and identify differences in the most salient perceived benefits and harms of precision medicine between African Americans (n=420) and Caucasians (n=420). Study findings are discussed and implications for future research are outlined.