AI's impact on healthcare industry

AI's impact on healthcare industry

Healthcare Tech Outlook | Thursday, January 17, 2019

The applications of artificial intelligence (AI) have remarkably transformed the healthcare industry. AI in the healthcare is making hype because its capacity to fetch information, process it and conclude it without direct human input. AI accomplishes the functions faster and without making errors. AI in this industry is used to analyze diseases or treatments techniques and patients' outcome. The advanced AI-driven technologies provide unique solutions, which eliminate mundane tasks, mitigate risks, and improve the efficiency of the chain of the process. Following are some of the areas of applications in the medical industry that AI has elevated:

Detection at early stage and diagnosis: In the cases of cancer, the unpredictable nature of tumors is the biggest threat to cure cancer. If doctor foresees how the tumor evolves they can be one step ahead and the probability of surviving of the patient's rises. Machine learning tools are able to pick out the pattern from DNA mutation of the cancer patients and predict the genetic changes. Discovery of wearable devices which are combined with AI is able to oversee heart diseases at the early stage and enable doctors and caregivers to take necessary precautions. The technologies are also useful in the diagnosis of various medical conditions accurately.

Medical image processing: Diagnostics processes don’t progress without medical image processing. The amounts of captured medical images are overgrowing, and it becomes very hectic to check the reports up for physicians in time and rushes make them make the mistakes sometimes. Technologies like AI and big data wipe out these imperfections by analyzing medical images faster and detecting anomalies in a better way.

Precision treatments: While treating chronic devices providers use the trial-and-error method to test out possible medicines that allay the symptoms. If the medications don’t work out, it ends up with the patient’s discouragement and wasted money and time. Moreover, according to Healthcare Finance, $2.5B is spent per year on ineffective treatments. With the advent of precision medicine for chronic diseases, the patient is treated faster and effectively.  

Virtual assistance: Instead of consulting with doctors, again and again, patients can use VA (Virtual Assistant) as a virtual doctor. VA enables patients to make the interactions with a doctor in real time basis and keeps working on patients’ data analysis. Seeing the symptoms people can ask for prescriptions and diets for common medical conditions. One of the great uses of VA is for the dementia patients in keeping them reminded about their medications.

Drug creation: Drug research and discovery have hugely influenced by AI applications. The way of drugs from the research lab to patients is time-consuming and also costly. According to the study of the California Biomedical Research Association, a drug generally takes an average of 12 years to travel from lab to market. But with the help of all the technologies and solutions, drug discovery and repurposing processes are now able to cut both time and costs. 

Cost reduction: According to the Frost & Sullivan reports, including AI can reduce treatments’ cost by even 50 percent by deducting human errors during procedures or by providing information to doctors about the patients to avoid hospitals re-admissions.

AI in the health industry is changing the way of seeing functions of radiologists and doctors. Despite all concerns regarding using AI, there is no doubt it will hugely improve patients’ care.

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