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AI is already having an impact on the healthcare market. AI can be applied to data to be able to improve decisions in the areas of drug development, treatment, patient care and monitoring, and managing financial and operational aspects of healthcare as a business.
The goal for using AI in healthcare is to provide information to medical professionals and their support staff so that all members can make informed decisions and effectively use their specific areas of training and expertise.
Dr. David Wiljer, Director of Digital Education at The Michener Institute of Education at UHN, said that “AI-enabled clinical decision-making and expert systems that simulate clinical reasoning are rapidly emerging areas of medicine and clinical care.”
Over the last three years, research in the area of AI, deep learning and neural networks, as applied to topics in medicine and healthcare has exploded. It has gone from almost no mention of AI to more than 100,000 research articles in the healthcare literature that focus on AI.
MarketsAndMarkets forecasts that the size of the AI in healthcare market size will grow globally from $4.9 billion in 2020 to more than $45 billion in 2026.
Dr. Taha Kass-Hout, general manager for healthcare and AI, and chief medical officer at Amazon Web Services, said that “in medicine, at the end of the day, we want to know what sort of patient has a disease and what disease a patient has, so predicting what each patient needs and delivering the best care for them, that’s ultimately the definition of precision health or precision medicine… If we think about more of this global view of the problem as well as the population, we can see where AI and advancements in AI can really help us overcome many things; for example, performing tasks that doctors can’t, using large data sets and modern computational tools like deep learning and the power of the cloud to recognize patterns too subtle for any human to discern.”