Decoding the Future Trajectory of Healthcare with AI
Artificial Intelligence (AI) is getting increasingly sophisticated everyday in its application, with enhanced efficiency and speed at a lower cost. Every single sector has been reaping advantages of AI recently. The Healthcare industry isn’t any exception. Here is decoding the future trajectory of healthcare with AI.
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The impact of artificial intelligence in the healthcare industry through machine learning (ML) and natural language processing (NLP) is transforming care delivery. Additionally, patients are expected to achieve relatively high access to their health-related information than before through various applications such as for instance smart wearable devices and mobile electronic medical records (EMR).
With a lot of of accurate data from these devices, AI will help facilitate actionable optimizing care and promote personalized healthcare.
The personalized healthcare will authorize patients to just take the wheel of their well-being, facilitate high-end healthcare, and promote better patient-provider communication to underprivileged areas.
Major players in the market are diving in headfirst to become a part of an on-going transformation in the industry.
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For instance, IBM Watson for Health is helping healthcare businesses to apply cognitive technology to supply a vast amount of power diagnosis and health-related information.
In addition, Google’s DeepMind Health is collaborating with researchers, clinicians, and patients to be able to solve real-world healthcare issues. Additionally, the company has combined systems neuroscience with machine understanding how to develop strong general-purpose learning algorithms within neural networks to mimic the mind.
AI Healthcare Programs and Robust Investments to Accelerate Medical Research
Companies are working towards developing AI technology to resolve several existing challenges, particularly within the healthcare space. Strong give attention to funding and starting AI healthcare programs played a substantial role in Microsoft Corporation’s decision to launch a 5-year, US$ 40 million program referred to as AI for Health in January 2019.
The Microsoft program will use artificial intelligence tools to resolve some of the greatest healthcare challenges including global health crises, treatment, and infection diagnosis. Microsoft has also ensured that academia, non-profit, and research businesses have access to this technology, technical experts, and resources to leverage AI for care delivery and research.
Collaborations with research businesses and various universities also remain a key focus area of the market players.
In January 2020, these factors influenced Takeda Pharmaceuticals Company and MIT’s School of Engineering to join hands for 36 months to drive innovation and application of AI in the healthcare industry and drug development.
AI Revolutionizing Health Care with Major Breakthroughs
AI applications are just centered on three main investment areas: Diagnostics, Engagement, and Digitization. With the rapid advancement in technologies. There are exciting breakthroughs in incorporating AI in medical services.
Some of the major AI breakthroughs revolutionizing the healthcare industry include:
The most interesting aspect of AI is robots. Robots aren’t only replacing trained medical staff but in addition making them more efficient in a number of areas. Robots help in controlling the cost while potentially providing better care and performing accurate surgery in limited space.
China and the U.S. have started investing in the development of robots to guide doctors. In November 2017, a robot in China passed a medical licensing exam only using an AI brain. Also, it was the first-ever semi-automated operating robot that was used to suture blood vessels as fine as 0.03 mm.
Moreover, the rise in the number of coronavirus cases has threatened the global populace.
In order to avoid coronavirus from spreading, the American medical practioners are counting on a robot that can measure the patient’s act and vitals. In addition, robots are also used for recovery and consulting assistance and transporting units. These robots are showcasing significant potential in revolutionizing medical procedures in the future.
Precision medicine is an emerging approach to infection prevention and treatment. The precision medication approach allows researchers and doctors to predict more accurate treatment and prevention strategies.
The advent of precision medicine technology has allowed healthcare to actively track patient’s physiology in real-time, take multi-dimensional data, and create predictive algorithms that use collective learnings to calculate individual outcomes.
In modern times, there has been an immense give attention to enabling direct-to-consumer genomics. Now, companies are aiming to create patient-centric products and services within digitization processes and genomics linked to ordering complex testing in clinics.
In January 2020, ixLayer, a start-up based in San-Francisco, launched one of its kind precision health testing platforms to improve the delivery of diagnostic testing also to shorten the complex relationship among physicians, precision health tests, and patients.
Personal Health Assistant:
Personal health monitoring is really a promising example of AI in healthcare. With the emergence of advanced AI and Internet of Medical Things (IoMT), demand for consumer-oriented products and services such as smart wearables for monitoring wellbeing is growing notably.
Owing to the rapid proliferation of smart wearables and mobile apps, enterprises are introducing varied options to monitor personal health.
In October 2019, Gali Health, a health technology company, introduced its Gali AI-powered personal health assistant for people struggling with inflammatory bowel diseases (IBD). It offers health tracking and analytical tools, medically-vetted educational resources, and emotional support to the IBD community.
Similarly, start-ups are also coming forward with innovative devices integrated with state-of-the-art AI technology to contribute to the growing demand for personal health monitoring.
In modern times, AI has been found in numerous methods to support the medical imaging of all types. At present, the biggest use for AI would be to assist in the analysis of images and perform single narrow recognition tasks.
In the United States, AI is known as highly valuable in enhancing business operations and patients care. It has the greatest affect patient care by improving the accuracy of clinical outcomes and medical diagnosis.
Strong presence of leading market players in the country is bolstering the demand for medical imaging in hospitals and research centers.
In January 2020, Hitachi Healthcare Americas announced to start a brand new dedicated R&D center in North America. Medical imaging will leverage the advancements in machine learning and artificial intelligence to result in next-gen of medical imaging technology.
With plenty of dilemmas driven by the growing rate of chronic infection and the aging populace, the requirement for new innovative solutions in the healthcare industry is moving on an upswing.
Countering AI Challenges in Healthcare Industry
Unleashing AI’s complete potential in the healthcare industry is not a facile task. Both healthcare providers and AI developers together must tackle all the obstacles on the path towards the integration of new technologies.
Clearing all the hurdles will need a compounding of technological refinement and shifting mindsets. As AI trend become more deep-rooted, it is giving rise to highly ubiquitous discussions. Will AI replace the health practitioners and medical experts, especially radiologists and physicians? The reply to this is, it’ll increase the efficiency of the medical experts.
Increasing efficiency of the medical experts ensures high precision than before, detect life-threatening diseases, and the ability to better monitor the patient.
Initiatives by IBM Watson and Google’s DeepMind will soon unlock the critical answers. However, AI aims to mimic the mind in healthcare, human judgment, and intuitions that can’t be substituted.
Even though AI is augmenting in existing capabilities of the industry, it really is unlikely to completely replace human intervention. AI skilled forces will swap only people who don’t wish to embrace technology.
AI in Healthcare Industry – The Next Frontier
Healthcare is a dynamic industry with significant opportunities. However, uncertainty, cost concerns, and complexity are rendering it an unnerving one.
The most useful opportunity for healthcare in the near future are hybrid models, where clinicians and physicians will be supported for treatment planning, diagnosis, and pinpointing risk facets. Also, with an increase in the number of geriatric population and the rise of health-related concerns across the globe, the over all burden of disease management has augmented.
Patients are also expecting better treatment and care. Due to growing innovations in the healthcare industry with respect to improved diagnosis and treatment, AI has gained consideration among the patients and health practitioners.
Healthcare institutes, government administration, and big IT firms are investing notably in AI to make healthcare manageable for all at a lower cost.
In order to develop better medical technology, entrepreneurs, healthcare service providers, investors, policy developers, and patients are coming together.
These facets are set to exhibit a brighter future of AI in the healthcare industry. It is very likely that there will be widespread use and massive advancements of AI integrated technology in the next several years. Moreover, healthcare providers are anticipated to invest in sufficient IT infrastructure solutions and data centers to support new technological development.
Healthcare companies should continually integrate new technologies to build strong value also to keep the patient’s attention.
The insights presented in the article are derived from a recent study on Global Artificial Intelligence In Healthcare Market by Future Market Insights.
Abhishek Budholiya is really a tech blogger, digital marketing pro, and contains contributed to varied tech magazines. Currently, as a technology and digital branding consultant, he offers his analysis on the tech general market trends landscape. His forte is analysing the commercial viability of a brand new breakthrough, a trait you can view in his writing. When he is maybe not ruminating about the tech world, he is able to be found playing ping pong or chilling out with his friends.
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