We always see that some technologies revolutionize a specific industry or even the whole world. As we see right now, AI is picking up massive speed. Almost every Startup or Business wants to add some new machine learning technologies to their ecosystem.
It’s not a secret that it will exponentially grow in the near future and change many of our current industries, including healthcare. In this article, I would like to discuss which opportunities this industry hides and how AI can be easily implemented into it!
How Exactly AI Is Changing The World?
In one sentence, AI helps you automate literally everything. However, it can do much more than usual automation. With it, you can build a whole business around it with the highest efficiency, and I’ll explain it in a minute!
By using AI, you can analyze large amounts of information and get some useful outputs from it. For instance, your AI algorithm can analyze all the data about cancer cells and think of new ways to treat them.
As you can see, using AI will save you tons of time and effort and also completely restructure your understanding of this problem. Many people couldn’t even imagine having such technologies.
In a nutshell, AI is another human who can analyze information much more quickly than all of us. However, it’s still not perfect, and there are a bunch of opportunities for growth in all spheres.
Examples In Healthcare Industry
Huge datasets are available in healthcare environments, and it's time to use these data to improve healthcare delivery for all parties. To do this, AI and machine learning techniques should be intelligently integrated into workflows.
According to Residence Research, the global AI-in-healthcare market reached $15.1 billion in 2022 and is expected to hit $20.65 billion in 2023. And by 2030, the market will reach $187.95 billion (with an annual growth rate of 37% from 2022 to 2030).
For example, I would like to share with you some of the main areas where AI can be implemented:
- Medication Behavior Analytics/Predictions
- Disease Predictive Analytics
- Safety Analytics
- Infection rate prediction Growth (Like Covid)
- Surgical Robots
- Mindfulness Health Tracking and Analytics
- Claims processing, clinical documentation
- Revenue cycle management and medical records management
As you can see, many of these areas are related to data analysis and prediction. That’s the main area where AI can be very useful. As we discussed previously, there’s no better way to analyze information than using machine learning.
Why Is It So Important?
We’ve passed 8 billion people currently living on our planet. That’s an enormous amount of people, especially if you look at the concentration of these people around the regions.
Many countries and regions that have a high population density face the problem of healthcare. For instance, India has just 64 doctors available per 100,000 people, compared to a global average of approximately 150 per 100,000.
However, India isn’t the worst example, you can look at African countries and see a much worse situation with this. Many of these 3-world countries are dreaming about just the usual healthcare administration, and we need to help all people around the world!
Here comes AI, which is a great solution to this problem. You don’t have to raise a whole generation of high-profile doctors; all of them can be replaced by only one computer that will analyze and help people. And there’s no need to spend millions of dollars on it. Isn’t that great?
Even Microsoft is creating a machine learning model to better predict the risk of heart attacks in cardiovascular healthcare, a significant and rather unique challenge for India. The AI solution may uncover new risk factors and provide patients without a thorough physical examination with a cardiac risk score, enabling early illness identification, using clinical and lab data from over 400,000 patients.
Health services can benefit from leveraging predictive analytics by applying artificial intelligence for the early detection of many diseases, especially in the context of limited healthcare capacity and delayed disease detection skills outside of urban areas!
How You Can Participate In It?
It’s not as hard as you might think. Actually, you don’t even have to invest large amounts of money to make a significant contribution to the healthcare and AI spheres.
All you have to do is try to come up with some new ideas. You can easily learn Python and start diving deep into machine learning technologies, so you will be able to create these algorithms yourself.
You can build a startup that aims to solve a specific problem or increase value in the main area. It doesn’t matter how you would do it, but it’s still valuable to start doing it right now.
The world is changing, and artificial intelligence technologies are reshaping every industry. Pay attention to this highly-interesting sphere and grow by creating innovations!
The use of AI in healthcare can speed up and reduce the cost of providing better treatment by automating processes and analyzing large patient data sets. AI will have a significant impact on generating more efficiency and innovations than we can now imagine in modernizing our healthcare ecosystems.
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