A recent article on Business Insider India has summarised how artificial intelligence (AI) and machine learning are defining the future of healthcare, along with citing examples of how today’s tech giants such as Google have fully embraced the potential of such technology and are actively developing solutions and applications in this field.
The article, which predicts AI spending in healthcare will grow at an annualised rate of 48% between 2017 and 2023, relates how the IBM “Watson” Genomic product – a big data analysis tool used to identify optimal treatments for cancer patients – has been used to tailor specific treatments for over 1,000 patients. In addition, Google’s Cloud Healthcare API, which collects data from user’s electronic medical records, is using AI to help doctors make more informed and better clinical decisions for their patients.
The article also reports on the growth of wearable technology such as the Fitbit, which enables AI to be utilised on a massive scale for the benefit of patients, increasing the availability of accurate healthcare data with a subsequent improved accuracy of diagnosis and clinical decision making. AI is also playing a significant role in reducing administrative time in healthcare, and lowering associated costs.
Grace Century President and Director of Research, Scott Wolf, commented “This article highlights why Grace Century has made a major commitment in its Healthcare projects. We are confident that technology and specifically AI, IOT, and wearable technology will change healthcare as we know it”.