What to expect from AI Powered Health Care?
AI is very useful in health care sector. Health care is one industry that requires a lot of help from technology. Spending on the AI powered health care market is expected to grow approximately CAGR (Compound Annual Growth Rate) 50.2% during the time period of 2018-2025.
Benefits Of AI-Powered Health Care
Hospitals and service providers will be the major investors in Machine Learning and AI solutions.
l AI solutions are able to improve care delivery, bring down costs and improve patient experience. There are many benefits of AI-powered health care.
l AI-based tools will also help in streamlining hospitals work flow processes. NPL tool is extremely helpful as they can translate speech into text, extract concrete data elements from unstructured inputs.
l By combining medical-grade and customer-facing services with AI, these services will be more convenient to provide to the customers seeking on-demand access to care and simplify the interactions of the providers with their electronic health records.
l Internet of medical things (IoMT) strategies will help in development of AI-powered sensors for developing smart homes and smart hospitals to take care of people with specific needs.
Key Trends To Expect In AI Based Health Care
1. The transition of medicine from reactive to proactive, as suggested by Ori Geva, CEO of Medial EarlySign, will be one of the key trends. Machine learning based applications will be able to prevent diseases. Providers and payers will be able to take better care of the patients.
Patients will be able to get timely and personalized treatment. This is necessary in case of life threatening disease as the chances of survival will be increased.
2. Health wearable and electronic medical record will be more accessible for the consumers. The data obtained by these devices will be used by AI to drive actionable insights to deliver truly personalized medicine, health and optimizing care.
3. Treatment and care for a lot of incurable diseases will be possible after incorporating AI in health care. AI can combine individual patient data, real-world evidence on patient behaviour with genomics.
If AI can analyze the patient’s data (age, gender, lifestyle, environment, genomics and other relevant information) properly then it will be easier to find a treatment of potentially complex conditions such as depression.
AI can provide information related to the possibility of potential reactions before they even occur. This will help in providing effective treatment without wasting much time. If done correctly, then AI in health care can prove to be extremely beneficial.
4. AI can be used to avoid adverse events for the patients by using smart data AI can predict them before time. This will make truly personalized medicine based on a person’s history possible to deliver.
According to Tim O’Malley, President and Chief Growth Officer at EarlySense, AI can be used to harness Smart data and the aggregate of will be used for the formulative predictive analytics and can be used across diverse patient groups.
Harnessing the power of AI-driven smart data will make it possible to predict adverse events for patients.
5. One more area that can benefit a great deal by the use of AI is as a replacement for placebo in clinical trials. This can be achieved by carefully curated data sets to form synthetic control arms. As in smaller populations recruiting patients for randomized control trials can be challenging.
As there is a possibility that if the patients discover they are in the control arm, they might drop out or choose to receive therapies out of the trial protocol. This will threaten the validity and completion of the entire trial.
The availability of vast amount of data in life sciences and the advancement of analytics presents a real opportunity to completely transform the clinical trial process. Leveraging the data (patient-level) from historical clinical trials, a synthetic control arm (SCA) can be created that will perfectly mimic the traditional randomized control results.
In a recent case study of non-small lung cancer, Medidata’s expansive clinical trial dataset with friends of cancer research successfully replicated the targeted randomized control. This is a game-changing effort that can be utilized to conduct and propel next-generation therapies.
What Are The Restrains In The Expansion Of AI In Health Care?
The major factors that restraints the growth of AI in health care market are -
l Reluctance of medical practitioners in adopting AI-based technologies.
l Lack of skilled workforce.
l Ambiguity in the regulatory guidelines for medical software.
These factors needs to be overcome to make the AI-powered health care a reality.
The scope of AI is vast in reshaping the health care industry. What drives growth in AI usage in health care sector is the increase in computational power and the decline in hardware cost that is possible from its usage.
As discussed in this piece, the industry experts have already predicted some interesting key trends of AI powered health care that will encourage more precise treatment and personalized care for the patients.