The benefits of artificial intelligence (AI) on global healthcare far surpass those of any conceivable sensor or individual wearable tech. AI’s influence stems from its accuracy, speed, and relatively low cost. Machine learning and neural networking by definition sharpen the AI instrument for increasingly accurate predictive applications. Nearly every day we discover new AI applications in healthcare. We recently wrote about a camera with integrated AI to help people in the early stages of dementia remember names. Other studies have shown AI’s use for predicting patients’ reaction to chemotherapy, detecting depression, and monitoring heart disease patients.
According to a recent report by Global Market Insights, the global healthcare AI market is set to grow to ten times its current size. Driven by increased healthcare AI solutions in research and drug development, the report predicts the $1.3 billion market in 2018 will increase to $13 billion by 2025. AI helps pharmaceutical companies streamline drug selection processes and discover previously unrecognized component interactions and relationships. Image recognition and analysis of large sets of MRI and CT scans to identify and diagnose malignant tumors is another fast-growing AI application. Also, AI solutions that assist and monitor patients remotely enable further developments in telemedicine.
The market for wearables, electronic health records, increasing capable sensors, and new wireless transmission and power technologies will continue to grow, but AI as the common enabling technology is set to outpace them all.
