The future of healthcare is dependent on securing AI-powered medical devices - MedCity News

Investments in artificial intelligence and machine learning are finally on the rise in healthcare. While the industry has been slow to adopt AI in comparison to other sectors like financial services and manufacturing – with 70% of health systems yet to establish a formal program – a recent survey found that 68% of health system executives plan to invest more in AI in the next five years to help reach their strategic goals. And the investments are expected to be significant; the global AI in healthcare market size is estimated to reach $120.2 billion by 2028. The opportunities for AI in healthcare are widespread, spanning both operational and clinical use cases including fraud prevention, voice-assisted charting, registration, remote patient monitoring and more. AI holds particular promise for connected medical devices and telehealth – an integral part of the Internet of Medical Things (IoMT) – as it enables faster triage, intake, detection and decision making.