Here’s how the medical field is benefiting from AI in 2021 and beyond.Artificial Intelligence (AI) is commonly known for its ability to have machines perform tasks that are associated with the human mind – like problem solving. However, what’s less understood is how AI is being used within specific industries, such as healthcare.
The healthcare industry continues to evolve as machine learning and AI in technology become more prevalent. Insider Intelligence reported that spending on AI in medicine is projected to grow at an annualized 48% between 2017 and 2023.
What is Artificial Intelligence in Healthcare?
Machine learning has the potential to provide data-driven clinical decision support (CDS) to physicians and hospital staff – paving the way for an increased revenue potential. Deep learning, a subset of AI designed to identify patterns, uses algorithms and data to give automated insights to healthcare providers.
Examples of AI in Medicine and Healthcare
AI can improve healthcare by fostering preventative medicine and new drug discovery. Two examples of how AI is impacting healthcare include IBM Watson’s ability to pinpoint treatments for cancer patients, and Google Cloud’s Healthcare app that makes it easier for health organizations to collect, store, and access data.
Insider Intelligence reported that researchers at the University of North Carolina Lineberger Comprehensive Cancer Center used IBM Watson’s Genomic product to identify specific treatments for over 1,000 patients. The product performed big data analysis to determine treatment options for people with tumors who were showing genetic abnormalities.
Comparatively, Google’s Cloud Healthcare application programming interface (API) includes CDS offerings and other AI solutions that help physicians make more informed clinical decisions regarding patients. AI used in Google Cloud takes data from users’ electronic health records through machine learning – creating insights for healthcare providers to make better clinical decisions.
Google worked with the University of California, Stanford University, and the University of Chicago to generate an AI system that predicts the outcomes of hospital visits. This acts as a way to prevent readmissions and shorten the amount of time patients are kept in hospitals.
Benefits of AI in Healthcare & Medicine
allows for a multitude of benefits, including automating tasks and analyzing big patient data sets to deliver better healthcare faster, and at a lower cost.
According to Insider Intelligence, 30% of healthcare costs are associated with administrative tasks. AI can automate some of these tasks, like pre-authorizing insurance, following-up on unpaid bills, and maintaining records, to ease the workload of healthcare professionals and ultimately save them money.
AI has the ability to analyze big data sets – pulling together patient insights and leading to predictive analysis. Quickly obtaining patient insights helps the healthcare ecosystem discover key areas of patient care that require improvement.
Wearable healthcare technology also uses AI to better serve patients. Software that uses AI, like FitBits and smartwatches, can analyze data to alert users and their healthcare professionals on potential health issues and risks. Being able to assess one’s own health through technology eases the workload of professionals and prevents unnecessary hospital visits or remissions.