May 9, 2021
Artificial intelligence, the technology that is seen as a home name today is poised to become a transformational force in healthcare. Healthcare industry is where a lot of challenges are encountered and opportunities open up. Starting from chronic diseases and radiology to cancer and risk assessment, artificial intelligence has shown its power by deploying precise, efficient, and impactful interventions at exactly the right moment in a patient’s care. The complexity and rise of data in healthcare have unveiled several types of artificial intelligence. Today, artificial intelligence and robotics have evolved to the stage where they can take better care of patients better than medical staff and human caretakers. The global artificial intelligence in the healthcare market is expected to grow from US$4.9 billion in 2020 and reach US$45.2 billion by 2026 with a projected CAGR of 44.9% during the forecast period.
Artificial intelligence and relevant technologies are prevalent in business and society and are rapidly moving into the healthcare sector. One thing that makes them stand out from manual labor is that technology has the potential to transform many aspects of patient care, as well as administrative processes within providers, payers, and pharmaceutical organizations. Today, algorithms are already outperforming radiologists at spotting malignant tumors, and guiding researchers in how to construct cohorts for costly clinical trials. Even though artificial intelligence in healthcare has evolved so much over a countable number of years, humans still believe that we have a long way to go before AI replaces humans for broad medical process domains.
Most artificial intelligence and healthcare technologies have strong relevance to the healthcare field, but the tactics they support can vary significantly. Using computers to communicate with humans, especially ill humans, is not a new idea by any means. For many years now, doctors and other medical staff have been availing disruptive trends in one way or the other. But what has changed now is the disappearance of human intervention. Technologies of the 21st century are directly interfacing with humans without the help of keyboards, mice, and monitors. In a significant way, artificial intelligence has simplified the lives of patients, doctors, and hospital administrators by taking over many time-consuming and labor-intense jobs.
Apparently, the influence of artificial intelligence to streamline medical facilities has gone out of the hospital doors. Now, many healthcare companies are also embracing technology to come up with innovative solutions that could solve blooming healthcare issues. Even though the present is already fascinating enough to feel awe, the future is anticipated to unfold in a further sophisticated manner. Imagine being able to analyze data on patients visit to the clinic, medications prescribed, lab tests, and procedures performed, as well as data outside the health system, such as social media, purchases made using credit cards, census records, internet search activity logs that contain valuable health information. This is the future we’ll be stepping into very soon. Unfortunately, ethical issues are embedded with it. But as technology moves further, the privacy concepts will also evolve with it to create a safer medical experience.
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