Managing Medical Data
The preliminary stage of healthcare is data compiling and analyzing information like medical records, tracing patients’ history. AI helps in collecting, storing, formatting, and tracing data so that it could later help in providing faster and on time access.
Digital Nursing Assistants
Digital nursing assistants ease communication between patients and care providers. The virtual assistants’ responds to patient’s queries, monitor patients (based on past medical history) and provide them quick responses.
Drug Discovery and Development
AI and ML are making the pharmacy industry quicker, cheaper and more effective. It has great potential to slice down the costs of new drugs R&D spend, which for the 10 biggest pharmacy firms is close to $70 billion annually. Check how.
Precision Medicine allows to analyze system biology of an individual patient at the molecular level (by taking into account its genes, lifestyle and environment) and then utilize targeted treatments to address the patient’s disease. This requires significant computing powers like deep learning algorithms that can learn themselves at an unprecedented rate. Precision Medicine leverages AI to make this personalized patient care a reality.
Wearable health trackers are monitoring medical conditions and potentially saving lives. Wearable health trackers like Fitbit, Apple etc. monitors heart rates, blood sugar level and activity levels and can send alerts to the user and share the reports with the doctor.
AI is improving accuracy in medical imaging diagnosis and also making it convenient to personalize treatment planning and transmit results which result in better profitability and enhanced productivity.
Till now, image analysis had been a very time-consuming process for suppliers. A recently developed Machine learning algorithm has made it around 1000 time faster to examine 3D scans with full accuracy while aiding surgeons in real-time evaluation.
Big and organized health data coupled with timely decisions and predictive analytics provided by AI further help in clinical decision making. Whereas, pattern recognition helps in early detection of diseases.
The tremendous growth of AI and its efforts to reduce the costs and enhance the quality is unstoppable. Growth in the AI health market is expected to reach $6.6 billion by 2021—that’s a compound annual growth rate of 40 percent. In just the next five years, the health AI market will grow more than 10×2.
In an information age disrupted by an influx of technologies, matching the pace with the current trends have become the lifeblood to survive in the industry. So, without wasting a split second, push the capabilities of technology, automation and digital workforces around you and double your efficiency and profits by saving time and lowering costs.