AI Application in The Healthcare Industry

Even the biggest skeptics would admit that artificial intelligence is the next revolution that can lead to many considerable changes. It will be powerful enough to move our industry and economy to the next level, saving us time, money, and lives.

Healthcare as the Main Goal

Perhaps its most significant potential lies in solving the healthcare issues. For this reason, the biggest part of annual resources is directed precisely to this sector. We are talking about billions of dollars, and public and private investments. In the following years, this number will beat every venture account. In the same way and over an identical period, the healthcare system would start saving hundreds of billions, thanks to an AI application.

How Can We Apply AI into Our Healthcare System?

There are multiple options for implementing new technology. Sure, it is going to be a long process. It might take some time to become part of the system, from clinical trials or drug supply to hospital care and satisfied patients. 

AI implementation could first reflect on the hospital administrative, more than its clinical sector. The first visible results could be economical, like cost reductions, higher quality of services, and the use of more information when providing health care.

Dealing With The “Iron Triangle”

The phrase “iron triangle” in the healthcare industry refers to three interdependent factors — access, affordability, and effectiveness. Acting according to one of them often leads to poor compromises and inadequate solutions, as one factor harms others. But with the help of AI technology, it is possible to find a shortcut and improve one thing without compromising the other.

What AI Means to Patients?

Economically, a patient should be unaware that a healthcare provider is using AI technology. Another fact that is happening behind the scene is the following — intelligent machines take on a large amount of labor from healthcare workers, which means fewer people needed to provide the necessary assistance.

What patients should be aware of are better self-care, more reliable and personalized service, and successful treatment. By introducing predictive analytics and diagnosis, it is possible to advance the practice to incredible limits.

Development Areas With The Largest Investors

By 2021, the total AI investments should reach $ 6.6 billion. Until now, most of them have been dedicated to digitalization, engagement, and diagnostics in healthcare. However, by digitizing the system, AI can reduce huge existing operating costs. It is clear that saving is one of the highest potentials and, therefore, a huge goal for investors.

Engagement refers to better communication between patients and health workers, as well as understanding the health system in general. In the end, AI in diagnostics could make an incredible twist in medicine, giving it a powerful weapon to prevent and cure the most severe diseases.