Artificial intelligence applied to healthcare wasn't on the radar ten years ago. Outside of academic circles, relatively few people were even aware of the potential of the technology. It seemed like a distant fantasy. Today, though, that's all changed. Artificial intelligence is the new trend in innovation, and everyone in the sector is talking about it.
Connected health, a socio-technical model for healthcare management, has done exceedingly well. From smart wearables that collect patient data to radiology tools with unparalleled imaging capabilities, digital solutions increase efficiency and accuracy while personalizing healthcare delivery. Eventually, artificial intelligence (AI) was thrown into the mix, resulting in a convergence of digital devices, health technology, and smart tools for connected care. In fact, the recent advances in AI open the door to broader possibilities for creating and sustaining highly efficient healthcare delivery systems. Frost & Sullivan's recent survey "Key Technology to Impact Healthcare in 2019" mentions AI and big data analytics as to the two underlying technologies that will define and disrupt the healthcare industry.
Artificial intelligence simplifies the lives of patients, doctors and hospital administrators by performing tasks that are typically done by humans, but in less time and at a fraction of the cost. One of the world's highest-growth industries, the AI sector was valued at about $600 million in 2014 and is projected to reach a $150 billion by 2026. Whether it's used to find new links between genetic codes or to drive surgery-assisting robots, artificial intelligence is reinventing -- and reinvigorating -- modern healthcare through machines that can predict, comprehend, learn and act. Check out these 32 examples of AI in healthcare. In 2015, misdiagnosing illness and medical error accounted for 10% of all US deaths. In light of that, the promise of improving the diagnostic process is one of AI's most exciting healthcare applications.
Artificial intelligence is slowly, but surely, showing potential in improving modern healthcare. In the UK, researchers recently used four AI algorithms that beat doctors in predicting heart attacks. Moreover, Google's DeepMind is fighting blindness with machine learning. Lately, medical science is seeing potential in the ability of AI systems to find meaning in datasets that are too complicated for us to process. This potential is perfectly applicable in modern healthcare practices.
To say that the role of Artificial Intelligence in Healthcare is intriguing, would be an understatement. AI and Machine Learning can bring about changes that have a substantial impact on healthcare processes and administration & while there is a lot we have to overcome to reach the stage of AI-dependent healthcare, there is sufficient potential in the technology today to drive governments, healthcare institutions, and providers to invest in AI-powered solutions. A study by Accenture has predicted that growth in the AI healthcare space is expected to touch $6.6 billion by 2021 with a CAGR of 40%. As on today, Artificial Intelligence and Machine Learning are well and truly poised to make the work of healthcare providers more logical & streamlined than repetitive. The technology is helping shape personalized healthcare services while significantly reducing the time to look for information that is critical to decision making and facilitating better care for patients.