Source: HBR.ORG
The value that artificial intelligence technologies can bring to industries is undeniable, and its application in the health care industry holds some of the most promise. From 2011 to 2017, around $2.7 billion has been raised by 121 health focused machine learning and AI companies. It is estimated that 10 of the most promising AI applications could bring up to $150 billion in savings to the United States annually by 2026. The highest promise areas of the application of AI currently resides in the value it can bring to back-end processes and the productivity of front-line clinicians, which will enable health care providers and insurers to focus on providing even better care.
Here are the 10 of the most promising applications of AI for health care, based on the potential for annual savings and the likelihood of adoption:
Although the use of AI to improve clinical judgements is still in its infancy, artificial intelligence has already demonstrated its ability to conduct certain single tasks more efficiently and effectively than doctors. These improvements should be invested in by health care providers not only for the added benefits they directly provide but to also free up insurers and providers to focus on providing better care.
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Here are the 10 of the most promising applications of AI for health care, based on the potential for annual savings and the likelihood of adoption:
- Robot-Assisted Surgery - Potential Annual Value of $40 billion by 2026
- Virtual Nursing Assistants - Potential Annual Value of $20 billion by 2026
- Administrative Workflow - Potential Annual Value of $18 billion by 2026
- Fraud Detection - Potential Annual Value of $17 billion by 2026
- Dosage Error Reduction - Potential Annual Value of $16 billion by 2026
- Connected Machines - Potential Annual Value of $14 billion by 2026
- Clinical Trial Participation - Potential Annual Value of $13 billion by 2026
- Preliminary Diagnosis - Potential Annual Value of $5 billion by 2026
- Automated Image Diagnosis - Potential Annual Value of $3 billion by 2026
- Cybersecurity - Potential Annual Value of $2 billion by 2026
Although the use of AI to improve clinical judgements is still in its infancy, artificial intelligence has already demonstrated its ability to conduct certain single tasks more efficiently and effectively than doctors. These improvements should be invested in by health care providers not only for the added benefits they directly provide but to also free up insurers and providers to focus on providing better care.
Click here to read the full article.
