AI Healthcare Sector – In December 2017, an Accenture survey showed that healthcare based on AI apps can generate $150 billion in annual. This indicates that we can expect the AI market to reach $ 6.6 billion by 2021. Additionally, CIS India report also showed that AI can help add $957 billion to the Indian economy by 2035. Thus, the amount of investment in AI in the Indian healthcare industry appears to be evolving. To summarize, a Transparency Market Research report in May 2017 mentioned that the global healthcare automaton market is growing at a CAGR of 8.8% and will soon reach $58.98 billion by 2025.
AI Healthcare Sector – As presently seen, AI and Machine Learning have started seeding into various industries, and the healthcare industry is one of the emerging ones. The technology has the ability to facilitate secure and easy access to patients’ medical history, understanding, and analyzing their conditions. This will ultimately improve the accuracy and efficiency in the diagnosis and evolution of health care practices.
An instance of AI implementation is the use of bots and virtual assistance in tedious tasks like medical records, clinical workflows, and monitoring lab results. All in an automated and secure way.
Top implementation of Artificial Intelligence in Healthcare sector:
AI Healthcare Sector – Diagnosis
The most significant benefit of AI is going to be Diagnosis. The technology can help in collating the huge amount of data that is still unprocessed. The 80% of the health data is unstructured and cannot be processed with the existing system.
Fortunately, big technology firms like Google and IBM have already come up with solutions. DeepMind, a Google platform is working with clinics and health institutes across the world to implement AI. And Watson, IBM platform is using cognitive techniques to process and analyze health data. Watson helps in reviewing and storing medical information, such as medical history, symptoms, case study of treatments and responses all around the globe. Watson’s decisions are facts based and free of cognitive biases, enabling rapid diagnosis and reducing the number of misdiagnoses.
Monitoring Chronic Conditions
Regular monitoring and lifestyle changes manage health issues like cholesterol, fertility problems, diabetes, and cardiac health. These chronic conditions are the single largest burden on the entire healthcare system globally. Connected POC devices can help generate a lot of data about the body parameters. People can easily combine these details with lifestyle information like food habits, exercise, and daily routine. AI also can help to analyse and manage the conditions, and adjust the dosage of medications accordingly.
Robotic Surgery assisted AI
AI enabled bots can guide the doctor’s instruments during a surgical procedure, minimalizing the time needed to conduct a surgery and even reducing complications during the procedure.
AI Healthcare Sector – Image Analysis
Most of the pathological evaluations such as malaria, differential counts, etc., depend on image analysis. Similarly, looking for abnormalities in an MRI scan is done through manual analysis by a radiologist. In both of the scenarios, Artificial Intelligence can help screen the image and analyse to give a faster and more accurate diagnosis.
As well, Artificial Intelligence has the capability to help researcher create drugs. Atomwise – the most popular name in the field uses deep learning to reduce the time taken to discover new drugs. The 6-year-old organization has raised more than $51 million in funding. The company also says that they are offering more than 50 molecular discovery programmes at present. Also, IBM is utilizing Watson to help accelerate drug research growth. The platform allows the researcher to generate new hypotheses with the help of dynamic visualization. Prediction backed with evidence and natural language processing in the life science domain. Watson is used by pharma companies, academic institutions and medical device companies. They use it to assist with new drug target identification and repurposing.
Even though current AI solutions are too niche to justify its adoption, we can still expect a sustainable future out of it. Providers, who believe in the power of Artificial Intelligence technology today, will find themselves in the best-positioned state. While withstanding the challenges healthcare systems are going to face in the coming years.
Embracing advances in healthcare industry enabled with Artificial Intelligence will equip medical professionals, health care systems, and patients with solutions required to augment wellness in the future.
While real people will still be irreplaceable in the field in which computers cannot compete. Not at least in the field of emotional care, ethical judgment, and components of hands-on. Socially, Artificial Intelligence will yield the cost savings and efficiency that are sure to follow. But if we do develop a culture of healthcare innovation, particularly in those fields boosting the huge potential of artificial intelligence.
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