The Potential Applications and Limitations of AI in Healthcare - Strategic Systems International

The tech industry today is abuzz with the potential of AI in healthcare – this discussion is drawing in the interest of very diverse stakeholders, from healthcare providers to drug developers to health insurers and to general public at large. This is not merely hype – the kind of substantial investments pouring in are a proof. According to Accenture, the AI healthcare market is projected to reach $6.6 billion by 2021, expected to result in about $150 billion cost savings annually. Accenture also broke down potential annual benefits for 2026 within the healthcare industry where robot-assisted surgery could easily cut costs by $40 billion while virtual nursing assistants, dosage error reduction, clinical trials and automated image diagnosis could save $20 billion, $16 billion, $13 billion and $3 billion respectively. Gurpreet Singh, a U.S. health services leader at PWC, sees three main areas where major chunks of investment will be heavily focused; digitization, engagement and diagnostics.