Mr Nilesh Jahagirdar, VP Marketing cube LABS explains the impact of AI on healthcare and how it is revolutionising this sector.
With the advent of digitalization, cutting-edge technology has become an essential part of our daily lives. The way we live and work has shifted dramatically. In this scenario, artificial intelligence is making huge waves in various industries, including healthcare. In healthcare, artificial intelligence is becoming more sophisticated at mimicking human behavior. The potential of AI in healthcare is gigantic, and it is becoming an increasingly important component of the healthcare ecosystem.
According to Market and Market analysis, AI in the healthcare ecosystem is poised to reach $67.4 billion at a CAGR of 46.2% during the forecast period 2021–2027. The report also stated that the increasing concern for cost optimization, data management, increased collaborations between public and commercial entities, and increased healthcare spending are the driving forces behind the expansion. As a result of the shifting scenario, AI impacts removing problems within healthcare organizations.
Impact of AI on healthcare
Artificial intelligence (AI) has dramatically transformed the Indian healthcare business. AI-enabled healthcare services such as automated medical test analysis, predictive healthcare diagnosis, automation of healthcare diagnosis using monitoring equipment, and wearable sensor-based medical devices are predicted to change medical treatment processes in the country.
People are already benefiting from AI and the Internet of Medical Things (IoMT) in myriad ways, including customer health applications. New-age technology enables people to take control of their health and welfare while also assisting healthcare providers in understanding the patient’s needs. Furthermore, they provide practitioners with patient records and information, boosting their capacity to provide precise feedback, guidance, and support to help patients stay healthy.
Ways AI is Transforming Healthcare
Applications of AI are already playing a huge role in healthcare, and its potential future applications are game-changing. So here are some of the distinct ways that AI can revolutionize the healthcare industry.
Accurate diagnosis and robotic assistance
AI assists physicians in diagnosing patients by assessing symptoms, recommending specific therapies, and forecasting risk. It can also detect anomalous outcomes. We are all aware that as the population grows, so does the data, resulting in inadequate medical records, inefficient sequencing, and a huge number of instances, which can frequently lead to human errors. However, once reports are loaded into a computer, modern machine learning algorithms can arrive at the correct diagnosis, eliminating errors and dramatically enhancing medical facility efficiency. In this context, AI-enabled robots are also assisting in increasing the number of successful procedures. Cameras, mechanical arms, and surgical equipment are built into the robots. They can be designed to reach every part of the human body and provide a clear, magnified view of the surgery site far superior to what human vision can provide. These procedures reduce pain, take substantially less time, and allow patients to recover faster.
Enhanced patient experience
Medical AI is quickly becoming a vital tool for treating patients and improving their overall experience. By instantly analyzing data, generating reports, and assisting patients in determining where to go and whom to connect to gadgets, AI has emerged as a rescuer. AI is the backbone of some of the most advanced digital solutions in the era of remote consulting, enabling connection and conversation and timing updates, report availability, appointment scheduling, and much more. In addition, AI can be utilized to develop a patient self-service model, an online portal accessible via portable devices that is more convenient and offers more options. A self-service model helps providers decrease costs while allowing consumers to receive the treatment they require efficiently.
By automating some activities, AI can improve administrative and operational workflow in the healthcare system. Recording and analyzing medical records in electronic health records consumes 34 to 55 percent of a physician’s time, making it one of the top causes of physician lost productivity. Clinical documentation technologies that use natural language processing can reduce the time physicians spend on documentation, giving them more time to focus on providing high-quality care.
AI enables healthcare practitioners to run simulations based on a database of situations, assisting trainees in making decisions and learning from prior replies to meet training goals such as understanding patients’ needs and decisions by delivering relevant insights. Furthermore, insurance companies are utilizing AI through linked devices to collect health data for underwriting, health declarations, and risk operations. It improves transparency between insurers and customers while also reducing bogus claims.
Technology Advancement: Paving the way forward
The days of AI in healthcare being in its infancy are long gone. With the changing landscape, technology is bringing greater breakthroughs across industries undergoing huge transformations in the approaching era. As a result, healthcare sectors are also employing new-age technologies such as AI, ML, and robotics to improve and facilitate customer experience and workflow, all of which will contribute to making the better and safer for everyone.