These Are The Startups Applying AI To Transform Healthcare

The digital transformation for healthcare in many ways has only just become. The industry, which has been traditionally slower to change than many others, is only beginning to open up to the potential that technology can yield for how patients are served and care is provided.

According to Accenture Digital Health Technology Vision 2021, 81% of healthcare executives say the pace of digital transformation for their organization is accelerating. Artificial intelligence (AI) is one of the biggest technological agents of change impacting the industry. In fact, according to a recent report, globally, healthcare AI companies brought in a record-breaking $2.5 billion in the first quarter of 2021 in 111 deals. That’s up 140% compared to $1 billion raised in the first quarter of 2020.

There is no stopping the potential growth for AI in healthcare. According to investor Bill Malloy III, here are three ways AI is poised to impact healthcare.

Training: The last year has proven that we need more healthcare workers at every level of the system. AI may hold a key to helping get some potential workers into their roles and serving patients faster than ever. According to a recent report from PwC, with the help of AI, students can go through training via naturalistic simulations that draw on a large database of scenarios in a way that simple computer-driven algorithms cannot. Even better, this type of training can be done anywhere and from a range of devices, even a smartphone.

Image analysis and early diagnosis: Healthcare workers are often overworked and stretched thin. AI can help with some of the tasks that can easily fill up nurses’ or doctors’ plates, so they can spend more time with their patients. And often, AI might just be able to perform those tasks better and faster. One of those tasks that are becoming reality is image analysis. AI can be trained to detect diseases such as cancer by analyzing thousands of images in the same amount of time it would take a trained professional to analyze just one. In addition, wearables are being used more and more to help doctors to detect and oversee early-stage heart disease. This can help to drive early diagnosis for a range of life-threatening diseases.

Improving long-term care: Millions of patients around the world struggle with chronic conditions. AI can help improve their overall care with the help of pattern recognition. This technology can help healthcare providers more easily detect if an individual is more at risk of developing a condition. It can also help the provider better understand the day-to-day needs of the patients they care for, which is essential feedback that will help them better layout a better path for care.

The full impact of AI will not happen overnight, especially in the healthcare industry. But, with the right investment of time and resources, we can start to bring dramatic and amazing change to an industry that is essential to our quality of life.