The world is evolving and so is technology. Over time, we’ve witnessed how the world has become smaller with the growth of the Internet. Exploring and searching for something is now just a click away and healthcare technology has rapidly evolved.
Today, with the help of Artificial Intelligence (AI), diagnosing and then treatment of certain diseases in patients has become extremely dynamic. Machine Learning and Natural Language Processing (NLP) and Deep learning are making healthcare far more efficient by generating real-time clinical insights at all points of care to improve patient outcomes, which is just a start.
According to Accenture analysis, key clinical health AI applications can potentially create $150 billion in annual savings for the US healthcare economy by 2026. Growth in the AI health market is expected to reach $6.6 billion by 2021 and in the next five years, the health AI market will grow more than 10x.
This graphic offers clarity on where healthcare with AI will reach in the next few years. This will not only help improve the quality of patient care, diagnosing diseases and treatment, but will also help bridge the gap between physicians and patients. AI makes it easier to communicate and stay in touch.
With organizations adopting AI and AI spreading like wildfire, it is extremely important to understand how the healthcare sector will benefit. Today, hospital EHR systems are automated and the introduction of the AI chatbot, connecting scheduling and EHR systems and automating the confirmation and scheduling of patients, AI is vastly improving a hospital's ability to keep tabs on each patient along with helping hospitals to concentrate on other important patient care parameters.
Healthcare isn’t shying away from investing in AI. Healthcare Administrative Workflow Assistance stands at #3 on the list of top 10 AI applications at a value exceeding $18B.
Microsoft, Google, Apple, IBM and Amazon, to name a few, have adopted and are fully committed to AI. Global leaders in Technology and Healthcare Technology sector are already providing their services to consumers.
Among them is Amazon AI services, putting technologies like natural language understanding (NLU), automatic speech recognition (ASR), visual search and image recognition, text-to-speech (TTS), and machine learning (ML) technologies within the reach of every developer. This make it easy for any developer to build applications that can turn text into lifelike speech; have conversations using voice or text; and analyze images to identify faces, objects, and scenes.
Let’s glance at a few top companies that are developing AI for the healthcare sector:
IBM - WatsonPaths
Watson Oncology is in development at Memorial Sloan Kettering Cancer Center and Cleveland Clinic. WatsonPaths consists of two cognitive computing technologies that can be used by the AI algorithm, Watson, which are expected to help physicians make more informed and accurate decisions faster and to cull new insights from electronic medical records (EMR).
Microsoft's Hanover project, in partnership with Oregon Health & Science University's Knight Cancer Institute, analyzes medical research to predict the most effective cancer drug treatment options for patients. Other projects include medical image analysis of tumor progression and the development of programmable cells.
Google's DeepMind platform is used to detect certain health risks through data collected via a mobile app. A second project with the NHS involves analysis of medical images collected from NHS patients to develop computer vision algorithms to detect cancerous tissues.
Intel's venture capital arm Intel Capital recently invested in the startup, Lumiata, which uses AI to identify at-risk patients and develop care options.
AI is helping take healthcare operations to a whole new level and we see an exponential growth at the intersection healthcare and the IT industry.
ezDI is adding its own mark on the healthcare industry with its ground-breaking cognitive computing applications, ezCAC and ezCDI, that provide real-time visibility into a hospital’s complete coding workflow.