As we navigate the complexities of modern medicine, the integration of artificial intelligence (AI) promises to be more than a trend. It can be pivotal in the way we understand, diagnose, treat, and manage health conditions.
This article describes AI companies in healthcare that are reshaping the industry. We will also illuminate the possibilities and challenges in the industry. This way, we aim to foster AI software development for a healthier future.
Just a few decades back, surgical rooms were primarily mechanical. They depended heavily on manual processes, limited technological tools, and isolated data. Surgeons and medical teams relied on physical records, basic monitors, and their skills to conduct surgeries. Few considered using digital tech for surgical intelligence. It required collecting and integrating vast data. Consequently, the innovations in medical procedures faced significant constraints. That is why the adoption of AI in healthcare is going slower than expected.
A World Health Organization report says chronic diseases cause 71% of all deaths. This highlights the urgent need for better healthcare interventions. Enter AI: a tech that uses vast data, from genes to health records. It finds patterns that may elude human doctors. Also, we are nearing a digital age with 40 zettabytes of data. The solution to some of the world's toughest diseases might be in there. We just need to extract insights from this vast wealth of information.
Nota bene: when was AI introduced in healthcare? In 1971, scientists created INTERNIST-1. It used a solid algorithm to diagnose patients. In 1975, the NIH sponsored the first AI in Medicine workshop at Rutgers. (Apr 20, 2023, Cedars-Sinai Staff.)
Here are the top AI applications in healthcare:
This list is far from complete. Healthcare AI companies continue to innovate despite a decline in funding.
Healthcare experienced a remarkable transformation due to the integration of
These technologies have changed many areas of healthcare. This includes preventive care, personalized treatment, and surgical room tech.
For EHRs, big data plays a particularly important role.
Ask any healthcare professional about their biggest challenge. They will likely mention cumbersome electronic health records (EHR) systems. In the past, clinicians manually recorded observations and patient data, each using their own method. However, the process looks completely different with AI and deep learning. Speech recognition, interactions with patients, diagnoses, and treatment plans are all made more straightforward. Plus, AI documents this data more accurately and almost instantaneously.
Nota bene: Why are well-structured EHRs so important? The answer is - they could save lives. See, countless individuals have undergone cancer treatments. Each patient's experience generates massive amounts of digital data, often exceeding a terabyte. This data includes demographics, lifestyle, and medical history. It also has details about the disease and its treatment. Therefore, it is a valuable resource, ripe for analysis. Many initiatives aim to combine scattered data on cancer patients for a better study. Connecting doctors with this data lets them compare treatments and outcomes for similar cases. It will enable more effective, personalized therapies.
Preventive healthcare is a goal scientists aim for, and data plays a crucial role in reaching it. EHRs, medical devices, wearables, and admin systems create much healthcare data. This vast scale poses both challenges and opportunities for healthcare professionals.
Let’s focus on opportunities.
The cost to sequence the human genome is now as low as $2,000. So, industry pros can now test a person's DNA for cancer-related genetic markers. Also, digitizing medical records can help detect cancer symptoms faster. This can lead to more tests.
Big data analysis also uncovers global patterns. It helps identify high-risk groups and discover potential causes or treatments. Recently, a wide array of variables led to a surprising discovery. Desipramine, a common antidepressant, might treat small-cell lung cancer.
Infectious diseases are ever-evolving. Urbanization, climate change, and global travel drive this change. A rise in online searches for specific diseases may signal an outbreak. Social media can track an illness's spread across regions. With nearly four billion internet users, these platforms hold much potential. They are a rich source of data that AI can analyze. It can then detect patterns of behavior that indicate an epidemic.
The success of these methods has been mixed. Google Flu Trends (GFT) initially made significant advances in tracking flu outbreaks. However, the H1N1 pandemic caused a surge in global searches. This distorted local data and led to false findings, and operations ceased.
These methods are still in development. But they can provide key insights for experts to explore.
Below are real-world AI applications in healthcare examples.
AI algorithms have demonstrated remarkable proficiency in interpreting medical imaging. A striking example is deep learning algorithms. They can detect pneumonia in chest X-rays with accuracy similar to radiologists.
AI radiology examples:
Regular monitoring of patient health conditions is essential for prompt intervention. AI-driven technologies evaluate real-time health metrics and detect anomalies. It helps healthcare workers to act quickly in emergencies and avoid bad outcomes.
AI patient health monitoring examples:
AI-powered robotics now assist surgeons in performing minimally invasive procedures with enhanced precision. Robots can help in many areas. Examples include surgical assistance, rehabilitation, elderly care, and social interaction. AI-assisted surgical robots are now common in operating rooms. They perform tasks without fatigue and reach areas human hands cannot.
Robot surgery examples:
Transforming a drug from a lab concept to a patient medicine is often costly and slow. It typically averages $359 million and takes 12 years (California Biomedical Research Association.)
AI holds the promise of accelerating drug discovery by
Hospitals are now working with biotech firms using AI. The AI models simulate how different compounds interact with various biological targets. This approach has already shortened the drug discovery timeline from years to months.
AI drug discovery examples:
AI and precision medicine create a powerful synergy. It makes therapies effective and tailored to each patient's unique genes and environment. This customization could reduce side effects and improve treatment success. For example, machine learning in genomics can find disease-related genetic mutations. Some hospitals use AI to recommend personalized medications. This improves treatment and reduces side effects.
AI precision medicine examples:
AI algorithms can diagnose some conditions, like diabetic retinopathy and skin cancer. Their accuracy matches or exceeds that of human specialists. This shows AI's precision. It shows its potential to democratize healthcare in underserved areas with few specialists.
AI diagnostics examples:
AI's potential extends beyond diagnostics. Predictive analytics can forecast patient admissions to optimize staffing and manage supply chains. This reduces inefficiencies and improves resource use. A study in Health Affairs found that AI can cut patient wait times by 30%. This improves the patient experience.
AI shows its value by using data and global travel patterns to predict epidemics. A remarkable example is Blue Dot's AI. It predicted COVID-19 before any official announcements.
Another great example is how AI makes heart care more anticipatory and preventive. A recent study highlighted the forecasting abilities of deep learning models. It predicted the short-term risk of atrial fibrillation from 24-hour Holter monitor readings. This shows how AI can improve patient care by enabling earlier intervention.
However, Deloitte warns that predictive analytics bears both benefits and risks for healthcare.
AI predictive analytics examples:
AI chatbots have emerged as a promising solution. They offer a mix of speed, anonymity, and scale that traditional mental health services often lack. These digital companions use advanced natural language processing. They engage users in empathetic dialogue. They guide users through emotional issues like anxiety, depression, stress, and low self-esteem.
A national US 2021 survey by Woebot Health 2021 revealed insights into mental health chatbot use.
AI mental health examples:
Advancements in AI have led to the creation of blueprints for tiny biological tools capable of altering DNA. So, a future where scientists can cure diseases more quickly is possible today. This innovation leverages methods similar to those powering ChatGPT.
Also, AI-driven techniques could reduce a major concern in gene editing: unintended off-target effects. These unexpected changes can have harmful effects. They raise ethical and safety concerns. AI's power lets scientists refine their methods. They can now target exact genomic locations and reduce risks. It boosts therapy's effectiveness and public trust in these new technologies.
AI gene editing examples:
Combining machine learning and AI for healthcare can help detect fraudulent activities. This will facilitate assigning risk scores to insurance claims. It can analyze claims data to identify suspicious patterns that may suggest fraud. Then, it promptly flags potentially problematic claims before disbursing payments. This helps insurers avert financial losses and reduces the time spent on investigations.
AI use cases in health insurance and fraud detection examples:
Research at Mount Sinai Hospital found that AI alerts improved patient care. Care teams were 43% more likely to respond quickly to deteriorating patients. This led to a lower mortality rate. The AI alerts beat manual methods, like the Modified Early Warning Score, at predicting patient decline.
AI alert management examples:
AI can analyze vast datasets to solve complex health problems. For instance, digital twins can simulate crisis scenarios to enhance preparedness and management. Scientists can create digital duplicates of the entire healthcare facility and its operations. This can help tackle various issues troubling hospitals today, including but not limited to
Digital twinning can also work in human-related studies.
AI population health examples:
Hospitals face rising patient volumes, staff shortages, and a need for cost-effective solutions. This is where AI-driven virtual assistants come into play. They offer a promising avenue to ultimately elevate the quality of care. One striking example is human-machine interfaces (HMIs). They interpret facial expressions, helping individuals with disabilities operate robotic vehicles and wheelchairs.
AI virtual assistance examples:
There’s often a belief that AI is ready for adoption, but that’s not necessarily the case. It may be fine for tasks like weather prediction. But, its use in health care can have life-altering effects. In 2016, Geoffrey Hinton, known as the "godfather" of AI, made an interesting statement. He predicted that radiologists would become obsolete, like typesetters and bank tellers. He claimed that people should stop training radiologists. Within five years, he predicted, deep learning will do that better.
Yet, over five years later, radiologists are still being trained to read scans. Medical experts say AI has not met its high hopes. Health systems are not ready for such technology. Furthermore, the government's regulatory response is still developing.
As we near this tech revolution, we must view AI in healthcare with a socially conscious lens. BMC Medical Informatics and Decision Making study examines problems with AI in healthcare. The study outlines values, principles, and norms for deploying AI in healthcare.
The study highlights five key areas that affect the trustworthiness of medical AI:
To eliminate the disadvantages of using AI in healthcare, WHO proposes to follow these principles:
The ethical governance system by BMC looks as follows:
The market cap of AI medical AI startups and investments peaked in 2021. It is projected to rise from USD 15.1 billion in 2022 to an estimated USD 355.78 billion by 2032.
Let’s showcase the sector's vibrant and innovative spirit. Here are some of the leading healthcare AI companies.
Harnessing big data and AI is critical in healthcare. The application market is predominant in the following industries:
As we can see, proactive AI development in healthcare is on the rise.
Radiology is where AI shines. The Mayo Clinic is testing an algorithm in a clinical trial. It aims to simplify the complex task of planning surgery for intricate head and neck tumors. Oncologists and physicists are involved in this work. According to John D. Halamka, president of the Mayo Clinic Platform, this algorithm can reduce human effort by 80 %. This technology gives doctors a plan to review and adjust. They don't need to do the basic physics themselves.
There are other notable successes as well:
On October 19th, the FDA released its 2023 list of authorized AI medical devices. This year saw an addition of 171 new devices, marking a 33% increase over the past year. Despite a growing interest in using generative AI in medical tools, no FDA-approved devices currently use GenAI or LLMs.
The FDA list includes 692 devices:
Nota bene: FDA-authorized devices likely are a small portion of AI tools for healthcare. This is because most automated learning applications don't necessitate regulatory review. For instance, predictive tools, including some computer vision models, don't require FDA approval.
Researchers at the UNC School of Medicine analyzed data on 500 AI medical devices. They found that nearly half of the FDA-authorized tools lacked public clinical validation data. Despite claims by manufacturers, AI tools for healthcare are untested. Their clinical efficacy has not been evaluated using actual patient data.
The implications of these findings are manifold. First, it’s clear that mandatory clinical validation studies need to go public before FDA approval. It would build trust in AI among healthcare providers and patients. This research also urges the medical device industry to account for their product claims. AI healthcare startups can boost the integrity of their devices by rigorously validating them. Making the results public would be a big plus.
In short, healthcare startups should aim toward creating a culture of evidence-based practices.
The future of AI in medicine is undeniably intertwined with a shift in patient care. As AI improves, it will play a bigger role in preventive care, diagnosing, and treatment. The ongoing trend toward cloud connectivity pushes collaboration between AI companies. This will help set clear guidelines for smart data processing to further foster AI acceptance. These advances have deep implications. They can improve health and promote health equity.
Victoria Melnychuk
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