AI is best suited to harness the vast amounts of data available to provide accurate patient diagnosis and customized treatment plans.
According to the International Data Corporation, healthcare data will grow at a compound annual rate of 36% by 2025. This is faster than other industries such as construction, financial services, and media/entertainment. From dealing with the coronavirus pandemic to detecting high-risk life-threatening diseases and speeding up recovery, Artificial Intelligence (AI) is transforming healthcare delivery around the world.
The vast amounts of data gathered from hospitals, mobile devices, and applications enable AI algorithms to be trained to evaluate patient risk and assist care providers in arranging for limited medical assistance and essential resources such as PPE kits and ventilators. In medical imaging, AI has not only aided the effortless detection of abnormalities, but has also resulted in much faster diagnoses. Surgical accuracy, customized treatments, intelligent healthcare analytics, and new genomics research are just a few examples of the incredible innovations made possible with AI.
Apart from being instrumental in improving diagnostics and healthcare delivery, AI is also playing a huge role in making healthcare more affordable for patients. Accurate diagnosis, faster delivery of care and improved efficiency allows the costs associated with healthcare to reduce significantly by avoiding unnecessary tests and detecting deadly diseases before they become too severe and expensive to treat.
According to The American Cancer Society, a huge percentage of mammogram analyses produce incorrect results and diagnose one in every two healthy women as having cancer. Now, the need for unnecessary biopsies can be avoided with AI’s ability to analyze and review mammograms 30 times faster with 99% precision. This saves patients a great deal of inconvenience and mental stress.
Leveraging the huge amounts of data generated from electronic medical record systems, radiology images, lab results, wearable devices, etc, will enable healthcare providers to come up with new and innovative solutions in predictive analytics for medical diagnosis, predictive modeling for health risks, and even prescriptive analytics for precision medicine. No other other technology is more well suited to generate specific insights from the tremendous amounts of ever-growing data available in both clinical and research records than AI.