Artificial Intelligence (AI) is making waves in a lot of sectors. AI is aimed to mimic human cognitive functions. The impact of AI in the field of healthcare can be huge. According to BGV the total public and private investment in the field of healthcare can reach up to $6.6 Billion by 2021. Moreover, Accenture predicts that top AI applications may end up making an enormous profit of $150 billion by 2026.
Here are a few ways that show the changes that AI can make in the healthcare sector:
The first and foremost thing is the compilation and analysis of data to treat a patient. The past medical records, the scans, the medicines etc. makes the process tedious. AI can store, collect, trace and analyse the data faster and more efficiently. The change in the speed of analysis can save a lot of lives and can also reduce the pressure on the doctors.
Companies like Sense.ly are designing virtual nurses in order to consult the patients, monitor their condition and follow up with the treatment between the doctor’s visits. The app works as a speech recognition system and consults the patients according to their needs.
It is a common trend amongst people these days to have a health tracker band on their wrist. A lot of companies like Xiaomi, Fitbit, Apple, and Samsung etc. are providing watches that can track the heart rate, oxygen intake, steps walked and runs. These watches can cost from $37 of Xiamoi to $750 of Garmin.
Drug testing can take a lot of years and cost billions of dollars. AI has the ability to make this process faster and cheaper. In a world where the unpredictability of diseases has increased it is important to have an AI based working system that can find out solutions as fast as possible. Atomwise is a company that is doing one such thing, they design new molecules for the target diseases.
These are a few ways that AI can change the healthcare and with the rapid advances in the field of AI there will be many ways that healthcare industry can flourish and find cheaper and faster ways to treat patients.