How Artificial Intelligence Is Transforming Healthcare Industry?
By any measure, Artificial Intelligence has become a part and parcel of our daily lives and almost every industry is swept with its ability to work and react like humans. Healthcare is no different! Healthcare app development has uphill the care providing facilities with the recent advancements in machine learning.
The potential effects of AI in the clinical elements of healthcare are limitless. The way the patient-doctor interacted has changed to a whole new level. Today, doctors are anticipated to take more holistic approach by providing care that aligns with patients’ wishes and shared decision making.
According to a 2016 report from CB Insights, about 86% of healthcare provider organizations, life science companies, and technology vendors to healthcare are using artificial intelligence technology. By 2020, these organizations will spend an average of $54 million on artificial intelligence projects.
Data-driven technology AI and Machine Learning has broad applicability in the healthcare industry and their implications to help the sector in developing virtual assistants are many. Here are 5 disruptive cases that will certainly change the way we looked at healthcare within the next 5 years and will be more likely by the end of the decade.
1. 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.
2. 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.
3. 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.
4. Precision Medicine
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.
5. Health Monitoring
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.
Related Blog: Developing Healthcare and Fitness Apps Using HealthKit and Google Fit
6. Medical Imaging
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.
7. Image Analysis
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.
8. Decision Making
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 10x2.
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.
Looking for robust, safe and secured healthcare app development solutions? Codiant might be the company with the experience you need.