The coronavirus pandemic expedited the digital transformation underway in healthcare, and patients and providers alike saw benefits to the new tech and virtual solutions. Telehealth appointments, remote patient monitoring services, and amended insurance offerings were able to extend quality care to consumers at a quicker and less-expensive rate. But incumbent healthcare institutions should keep an eye out for big tech companies encroaching on their space, as companies including Alphabet, Amazon, Apple, and Microsoft try to sway consumers from traditional healthcare players through consumer-first, tech-focused approaches. Below, we run through the trends and transformations taking place within the healthcare ecosystem, and outline what traditional health players can do to stay ahead of big tech competitors. While the healthcare industry was slow-moving when it came to digital solutions, COVID-19 upended the entire health ecosystem, including insurance, healthcare delivery, and pharmaceutical spaces.

Physician turnover in the United States, due to burnout and related factors, was conservatively estimated to cost the US healthcare system some $4.6 billion annually, according to a 2019 Annals of Internal Medicine study. The results reflect a familiar dynamic, where too many doctors are crushed in paperwork, which takes time away from being with patients. Just five months after this study was publicized, Harvard Business Review published "How AI in the Exam Room Could Reduce Physician Burnout," examining multiple artificial intelligence initiatives that may streamline providers' administrative tasks, thus reducing burnout. Still, barriers to trust in AI solutions remain, highlighted by 2020 KPMG International survey findings that note only 35% of leaders have a high degree of trust in data analytics powered by AI within their own organizations. This lack of confidence even in their own AI-driven solutions underscores the significant trust gap that exists between decision-makers and technology in the current digital era.

Our 2020 presidential candidates will be questioned about their stance on artificial intelligence (AI) policy, especially with regard to the job displacement AI could cause in manufacturing, transportation, and other industries. An over-regulation of AI could hand technical superiority to countries like China and Russia, leading to a ripple effect on America's GDP and even threatening national security. But under-regulation could lead to a massive consolidation of power among a handful of American technology companies, millions of jobs lost without replacement planning, and algorithms that show bias based on age, race, gender, and more. We're certain to hear statements about upskilling -- the process of helping displaced workers acquire new skills so they can find other employment -- and about taxing robots to slow down job loss. But the candidates will need to offer up more than a few soundbites.

For those who are new to AI, Machine Learning, and Deep Learning, I recommend taking a look at the following article entitled "An Introduction to AI." I will refer to Machine Learning and Deep Learning as being subsets of AI. Furthermore, this article is non-exhaustive in relation to potential applications of AI to healthcare and Quantum Computing to various sectors of the economy. The reason for the focus on AI in healthcare is in light of recent articles by a few senior medical practitioners in the US expressing concern about the role of AI in healthcare. Some of the concerns expressed, such as the need for improved sharing of data by healthcare participants including hospitals and ensuring the highest quality in the preparation of data, are entirely valid and I take the view that the need for access to data and sharing of data by hospitals may need to become a matter of political and regulatory concern.

Israel-based equity crowdfunding platform OurCrowd is launching a sector specific fund fully focused on digital health -- touting it as Israel's first fund with such a focus. The fund, called OurCrowd Qure, will invest in early stage startups at the seed and Series A level. Fundraising is starting now, with a target of $50 million for the first raise. Managing partner Dr Yossi Bahagon tells TechCrunch the team expects to make about 15 investments with the first fund. He says typical investments will start at $500,000 for the earliest stage startups, rising to up to about $3 million at the Series A level.