Emerging applications of artificial intelligence are significantly transforming healthcare – find out how
Artificial intelligence refers to the simulation of human intelligence processes by smart computer systems that apply functions in multiple fields such as biology, computer science, mathematics, engineering, psychology and others. Across healthcare, artificial intelligence offers benefits to healthcare providers in many aspects of patient care and clinical management functions.
AI in healthcare has an extremely broad scope, including medication, treatment plans, drug discovery, and others. It is commonly used in diagnostic treatments, personalized medicine, drug development, patient monitoring and other medical practices.
Want more technical news? Subscribe to the ComputingEdge newsletter today!
The current market scenario of artificial intelligence in the healthcare sector
According to a report published by Allied Market Research, global AI in the healthcare market The size is expected to reach $194.4 billion at a significant CAGR from 2021 to 2030. With the increase in the volume of data in healthcare, the complexity of data sets increases, which in turn drives the growth of the market. Few other factors, such as an increase in the number of cross-sector partnerships and collaborations, an increase in the imbalance between the healthcare providers and patients, advances in computing power and others, are also driving the growth of the global AI market in the healthcare sector.
The impact of COVID-19 on the healthcare artificial intelligence market
The outbreak of the COVID-19 pandemic has fueled the growth of AI in the healthcare market in more ways than one. From the beginning of the pandemic to the current scenario, AI technologies play an essential role in fighting the pandemic. Multiple pharmaceutical and biotechnology companies around the world are adopting and using AI tools and devices to detect and diagnose the coronavirus. Many start-up companies are participating in the development of AI-driven diagnostic solutions, thereby contributing greatly to the growth of the global market.
For example, in March 2020, IBM Watson Health, in partnership with EBSCO Information Services, began providing access to evidence-based information about medicines and diseases. This is useful for clinicians dealing with infectious diseases, including COVID-19.
Additionally, in June 2020, GE Healthcare, in partnership with a South Korean startup company called Lunit, launched an artificial intelligence-powered chest X-ray analysis suite. The suite is designed to detect and highlight eight health problems, using algorithms built by Lunit.
At the same time, in July 2020, Alivecor introduced a digital health subscription service called Kardiacare. This service provides the controlling power to manage heart health at home. It is an exclusive digital tool that makes it easier to monitor risk factors, detect symptom triggers and interpret heart data.
On the other hand, in August 2017, so in the pre-COVID era, Penn Medicine developed a promising solution by using machine learning. The system reads the patient’s vital signs and predicts the possibilities of heart failure.
Types of Artificial Intelligence Used in Healthcare
The following are the types of AI that have been used in healthcare in recent decades:
- Machine learning: Machine learning, a field of data science, is one of the most common types of artificial intelligence used in healthcare. It accurately analyzes thousands of computer records, data and algorithms to detect disease patterns and patient health status. In addition, machine learning can use real-time data, past medical records, and information about past surgery to improve robotic surgical instruments. At the same time, machine learning through CAT scan, MRIs and other imaging technologies helps clinical professionals improve their productivity and precision.
- Natural Language Processing (NLP): It is a subset of computer science, linguistics, and artificial intelligence that understands human language. NLP technology includes forms of speech recognition and translator, which allow computers to process human language in the form of text or voice notes and summarize large amounts of text quickly, even in real time.
- Rules-based expert systems: it is the simplest form of artificial intelligence. It takes note of people and applies hard-coded rules to the input. This means that the knowledge is represented by production rules.
In the modern era, with such rapid growth of advanced AI technologies, artificial intelligence along with edge computing is being used to manage healthcare and monitor patients remotely. The outbreak of the COVID-19 pandemic has even led to an increasing adoption of telecare to enable patient care outside of traditional healthcare facilities.
Carestream, a global provider and leader of powerful AI technologies, has partnered with HPE GreenLake Cloud Services. Both companies will support the operationalization of artificial intelligence to deliver ultimate solutions that can improve diagnostic treatment through better image quality, and optimize dose and workflow efficiencies in medical imaging.
Here it is worth noting that AI in healthcare is already changing the patient experience, clinicians’ practices and the functioning of the pharmaceutical industry. It improves productivity, improves the quality of care, speeds up the speed and lowers the cost of developing treatments. With this drift on board, artificial intelligence in the healthcare market is expected to deliver huge prospects and exponential growth in the near future.
Biography of the author
Suchita Gupta is an explorer, musician and content writer. While pursuing an MBA, she discovered that nothing gives her more satisfaction than writing in various fields. She is a writer by day and a reader by night. Moreover, she entertains her audience on social media platforms. Find her on LinkedIn & Instagram.