EU's $24 Billion AI Investment Signals Healthcare Big Data Boom

The European Union is set to invest USD$24 billion into artificial intelligence (AI) by 2020, seeking to catch up with Asia and the United States, which each currently invest more than three times that of Europe. Of the sectors that stand to benefit the most from a boost in AI development is healthcare--a sector becoming increasingly reliant upon what's known as big data. As regions like Asia, the EU, and North America invest more heavily in AI and cloud services to handle big data, the investments move downstream towards developers of innovative applications of healthcare-related big data. According a recent report from BIS Research, the global big data in healthcare market is set to reach $68.75 billion by 2025--growing at a rapid CAGR of 22.3% between 2017-2025. The report came out prior to the EU's $24 billion AI investment announcement; therefore, those expected healthcare-related numbers could even be higher.