Healthtech platforms leverage AI to enhance product offerings
According to consulting platform GlobalData, spending on AI platforms in the healthcare sector globally is projected to grow $18.8 billion by 2027 from $4.8 billion in 2022.
According to consulting platform GlobalData, spending on AI platforms in the healthcare sector globally is projected to grow $18.8 billion by 2027 from $4.8 billion in 2022.
The team of researchers, including those from the universities of Cologne (Germany) and Yale (US), were testing the accuracy of AI-driven models in predicting the response of schizophrenic patients to antipsychotic medication across several independent clinical trials.
The diagnostic industry in India encounters formidable challenges rooted in a dual issue of insufficient skilled personnel and a widespread lack of awareness. The sector's fragmentation, encompassing large chains, hospital laboratories, and independent testing centres, contributes to a diverse landscape. However, the absence of stringent regulations has led to the emergence of unaccredited centres, raising concerns about the quality of diagnostic services provided.
Amid the growing debate over AI and its side effects, researchers now report that in healthcare settings, ChatGPT is nearly 72 per cent accurate across all medical specialties and phases of clinical care, and 77 per cent accurate in making final diagnoses.
“Now, with Gen AI (generative AI), it could be game changing, it can look at all these documents and can expedite the whole decision-making process,” says Bharat Kumar Damalcheruvu, head of business development & strategy for the Americas, Gen AI Office, at Cognizant.
The collaboration aims to harness Absci's AI technology for large-scale protein analysis to find a viable oncology therapy, a leading focus of AstraZeneca, the report said. It did not say what kind of cancer they plan to target.
On Friday, Lieutenant General Daljit Singh, the Director General of the Armed Forces Medical Services (DGAFMS), announced that efforts are being made to use artificial intelligence (AI) in order to conduct state-of-the-art medical research. He was addressing following the official opening of the Armed Forces Centre for Computational Medicine, or "Prajna," by President Droupadi Murmu. This institution will use artificial intelligence (AI) to construct a variety of modules to handle diagnostic and therapeutic difficulties.
Wipro will leverage NVIDIA's AI software for enterprises for the production of AI across its current portfolio of healthcare solutions in the affordable care act (ACA), Medicare, and Medicaid, the company said in a statement.
The solution aims to solve industry-wide challenges of availability, cost, and dependencies linked to custom and proprietary hardware components with the help of a scalable platform that supports multiple applications, providing a real-time decision-making tool for the medical fraternity.
The COVID-19 induced pandemic also presented many challenges to the healthcare industry and accentuated the digital chasm that needed to be bridged. The solution was to enable rapid digitalisation of healthcare that would facilitate new ways of working and addressing the challenges. As a result, 2023 saw rising investments in healthcare technology, specifically in the areas of healthcare financing, personalised healthcare, clinical decision support and AI assisted medical imaging.
The global market for Artificial Intelligence (AI) in the medical devices industry is set to grow at a compound annual growth rate (CAGR) of 29.1 per cent from $336 million in 2023 to $1.2 billion in 2027, according to a report released on Wednesday.