Artificial intelligence simplifies the lives of patients, doctors and hospital administrators by performing tasks that are typically done by humans, but in less time and at a fraction of the cost.
One of the world’s highest-growth industries, the AI sector was valued at about $600 million in 2014 and is projected to reach a $150 billion by 2026.
AI has countless applications in healthcare. Whether it’s being used to discover links between genetic codes, to power surgical robots or even to maximize hospital efficiency, AI has been a boon to the healthcare industry.
Whether it’s used to find new links between genetic codes or to drive surgery-assisting robots, artificial intelligence is reinventing — and reinvigorating — modern healthcare through machines that can predict, comprehend, learn and act.
In 2015, misdiagnosing illness and medical error accounted for 10% of all US deaths. In light of that, the promise of improving the diagnostic process is one of AI’s most exciting healthcare applications.
Incomplete medical histories and large case loads can lead to deadly human errors. Immune to those variables, AI can predict and diagnose disease at a faster rate than most medical professionals. In one study, for example, an AI model using algorithms and deep learning diagnosed breast cancer at a higher rate than 11 pathologists.
How it’s using AI in healthcare: CloudMedx uses machine learning to generate insights for improving patient journeys throughout the healthcare system.
The company’s technology helps hospitals and clinics manage patient data, clinical history and payment information by using predictive analytics to intervene at critical junctures in the patient care experience. Healthcare providers can use these insights to efficiently move patients through the system without any of the traditional confusion.
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