The healthcare industry is evolving rapidly all across the sphere but as the technology increases, so do the demands of services, workforces, and rising expenditures. According to a study by Peterson Centre on Healthcare and the Kaiser Family Foundation (KFF) in the U.S., around $3.8 trillion was spent in the year 2019, and by 2028 the expenditure will escalate up to $6.2 trillion.
Now that’s fascinating!
As the struggle to fulfil the requirements of the patients increases, integrating artificial intelligence with the healthcare industry seems like the best deal to bid. A recent study states that spending on artificial intelligence in the field of healthcare is projected to escalate up to 48 per cent by 2023, thus proving the Globe and Mail correct in their statement that “the healthcare industry is leveraging technology to power through the pandemic.”
Before moving any further, let’s understand more about the role of artificial intelligence in the healthcare industry.
Artificial intelligence (also known as AI) is known to program machines in such a way that they can think and perform tasks like humans — such as problem-solving. Integrating machine learning in the healthcare industry will not only help to analyze big sets of patients’ data in no time, but will also aid in the understanding of key areas of improvement for the patients.
Artificial intelligence can play a huge role in helping the healthcare authorities with clinical decision-making, thus increasing revenue. Machine learning uses algorithms to identify patterns and data to provide detailed insights to healthcare authorities. Moreover, it’s not just the healthcare industry that uses AI, doctors also encourage the use of contact-tracing wearables that will help to serve patients in a better manner. Digital contact tracing wearables such as TraceScan (powered by Facedrive) is one such example that is integrated by AI and helps to analyze and inform the users about the outburst of COVID-19. Being able to assess one’s activity with the help of technology will help in controlling the spread of COVID-19.
Integrating the technology of artificial intelligence in the healthcare industry provides multiple advantages, such as analyzing data, automating tasks and maintaining records, thus easing the workload for the healthcare professionals. With the blast of innovation in technology, it is very important for health experts to understand the specific methodologies for effective deployment in the healthcare industry.