Rapid improvements in medical technology, big data analysis, and molecular medicine come with promises of revolutionizing medical care. They span the spectrum from diagnostics to genome-based drug selection to multi-biomarker analysis to deciphering large amounts of data. Below, recent developments in personalized and precision medicine are reviewed, focusing specifically on the liver, ranging from fatty liver disease to liver cancer treatment and liver transplantation. Furthermore, current technologies and their advantages and limitations are discussed, in addition to ways in which these disadvantages can be overcome, using phenotypic personalized medicine.