Read here to learn how AI can be used in healthcare software, its current stand on the market, and related technologies you might want to look into further.
Join the DZone community and get the full member experience. Being bolstered by AI, both automation and hyper-automation have remained leading IT trends for several years in a row while amplifying numerous industries. However, there is one area tech scions never took seriously before the pandemic: the potential of AI in HealthTech. In 2022, HealthTech has made it into common flagship services and a fast lane across global tech companies. With that said, let’s see how AI can be used in healthcare software, its current stand on the market, and related technologies you might want to look into further. I’ll also go over one of the technicalities of intelligent drug discovery and gene-sequencing, based on real cases from some of my clients. The healthcare applications of artificial intelligence (AI) are growing rapidly, according to a new report from research firm MarketsandMarkets. The company estimates that the global market for AI in healthcare will grow at a compound annual growth rate (CAGR) of 46.2 percent between now and 2027 when AI’s share of the total healthcare IT market is expected to reach $67.4 billion. Another study by Allied Market Research emphasizes the positive impact of the COVID-19 pandemic on healthcare-related markets, one of them being AI in healthcare. At present, AI technologies are playing a crucial role to combat the pandemic. Healthcare organizations vary significantly in their AI investments. Before the pandemic,75% of large organizations injected over $50 million in intelligent technologies. At the same time,95% of mid-scale companies put away under $50 million on AI transformation. In 2021, cash injections into the field soared. The COVID-19 whiplash resulted in almost 3 in 4 healthcare providers increasing their funding, according to Deloitte. Thus, the total AI investment exceeded $77 billion in 2021, a sharp rise from the previous record set in 2020, which is $36 billion. As the world continues the pandemic fight, AI’s ability to monitor the spread of COVID-19 cases (94%), assist with vaccine development (90%), and aid vaccine distribution are most favored by life sciences executives (90%). For a software development world, this automation craze resulted in the AI talent grab. The Big 5, including Google and Apple, have been bolstering their AI talent through acquisitions. For the record, there have been over 630 AI acquisitions since 2010. Therefore, artificial intelligence along with ML and Deep learning remain among the main software development trends in 2022 due to the increased AI cases in healthcare and other industries. On this note, let’s have a closer look at the relevant technologies in HealthTech that stem from AI concepts. You might want to tap into these if you’re thinking of joining the HealthTech arena: These are some of the most common AI forms that are mainly used as predictive tools for precision medicine. Deep learning and neural networks are more complex than supervised ML learning and include many levels of features or variables that project outcomes. Natural Language Processing is a subfield of Artificial Intelligence that allows computers to comprehend human speech and text. Within medical software, it’s mainly responsible for analyzing unstructured clinical notes, transcribing patient interactions, and implementing conversational AI. These are must-haves to collect continuous data and analyze it at scale. Besides, interoperable systems are now promoting more convenient data sharing for the sake of predictive analytics.
