How Will Artificial Intelligence Impact The Healthcare Industry?
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“Doctors will provide better diagnoses and treatments with less time and effort, making Healthcare much more efficient.”
-Milan Petkovic, Department Head at Philips Research
Highlights from Today’s Story:
- The Next Web’s recent piece, “AI Is Saving Doctor’s Time – And Patients’ Lives” suggests that as Artificial Intelligence becomes more commonplace, it will have serious impact on the Healthcare industry.
- According to a report by Medscape, doctors on average spend only 13-16 minutes with each patient.
- In 2014, Jess Jacobs, a health IT solutions designer, kept track of all the hours she spent at her hospital while undergoing treatment for two chronic diseases. Jacobs found that just 0.08% of her time while hospitalized was spent actually treating her ailments.
- Research shows that American physicians spend two-thirds of their time entering data and doing administrative desk work, while ten years ago, doctors only spent one-third of their time doing paperwork.
- Amazon’s Jeff Bezos claims that AI is experiencing “a golden age,” and that new technologies will relieve workers from simple, repetitive tasks, ultimately enabling them to spend more time with precise, focused action.
- McKinsey Global Institute estimates that in the next 50 years, AI will drive an annual growth in productivity that will double (at least) the global productivity boost that resulted from the emergence of early robotics in the 1990’s.
- AI is already revolutionizing Healthcare.
- Philips is harnessing the power of AI as they aim for more personalized solutions. Their technologies include tech such as smart toothbrushes that use data analysis to provide personalized brushing feedback, and smart alarms that decrease the number of false alarms in Intensive Care units.
- Philips Research China has developed a Natural Language Processing (NLP) algorithm that extracts structured data from clinical reports so that doctors are provided proper information for secondary analysis. The NLP will potentially save doctors month of research.
- “Without this solution, a doctor may take six months to find the needed information from 10,000 ultrasound reports. With this innovative algorithm, he can locate the desired information from 200,000 ultrasound reports within approximately five days,” says Choo Chiap Chiau.
Outside of Healthcare, which industries do you think AI will have the most significant impact on? Chime in using the comments section below!