In healthcare, artificial intelligence (AI) is more than just a pattern of digital transformation. AI is the epitome of medical innovation and players in the industry are keen to invest millions in it. By 2025, the demand for healthcare AI-powered instruments is expected to reach $34 billion, meaning that almost all aspects of the industry will be influenced by this technology.
AI in medicine for most patients brings Japanese nurse robots to mind. But now, like Moxi, a friendly hospital droid programmed to support human nurses with regular tasks such as fetching and replenishing supplies, there are plenty of American versions too.
Another AI based technology that patients are becoming familiar with is chatbots and virtual health assistants. From customer service representatives to diagnostic tools and even therapists, chatbots will perform a multitude of functions. Their flexibility is being converted into substantial investments. By 2023, the worldwide demand for healthcare chatbots is expected to hit $314.3 million from $122 million in 2018.
But in fields such as precision medicine, medical imaging, drug discovery, and genomics, the real power of AI can best be observed. Cancer patients used to undergo cookie-cutter therapies with high rates of failure, for example. Now these patients have access to customized therapies tailored to their genetic makeup and lifestyle, thanks to AI’s sophisticated pattern recognition.
In a nutshell, what AI-powered computer programs do for oncology is to analyze thousands of pathology images of different cancers to provide highly accurate diagnosis and predict the best possible combinations of anti-cancer drugs. And this technology lets radiologists spot knowledge that fails the human eye in medical imaging diagnostics.