Post

AI in Healthcare

Posted by Flux on 

14 September 2023

What’s trending? 

It’s not an exaggeration to say that artificial intelligence has revolutionised the healthcare sector. It seems like every other day, it is reported that AI-enabled medical breakthroughs are taking place. In August alone the following case studies have emerged: researchers at Radboudumc revealed in Nature Genetics that their computer model based on facial recognition can, using AI, help diagnose the hereditary cause of rare developmental disorders in children. Also, AI helped a stroke patient walk again using high-tech trousers and scientists used an AI-powered brain-computer interface (BCI) to help voiceless patients to speak. On the administrative side of things, Google announced a suite of artificial intelligence tools to help speed up one of healthcare’s big administrative bottlenecks: pre-authorisation. 

Why is it important? 

Generative AI is dramatically reducing the new drug and therapy development cycle time. The speed of innovation is unprecedented. Hong Kong-based biotech company Insilico Medicine announced that the first drug of its kind designed by generative AI has entered phase II trials, with the first patients already dosed in the US and China. The medical advances that AI brings, translates into lives saved and better quality of life for patients spared debilitating illnesses. This leads to a happier, healthier populace. Healthcare companies who lead the way in terms of these innovations stand to profit the most from these advances. 

What can businesses do about it?

Keep abreast of AI trends, breakthroughs, and emerging technologies by following AI research journals, conferences, and news. This is essential for healthcare businesses to stay competitive, improve patient care, and streamline operations. It is crucial for your business to develop an AI strategy. Establish advisory boards or committees composed of AI specialists to provide guidance. Form partnerships or collaborations with AI companies and experts in the field. Allocate resources for in-house AI research and development. Investigate where/how AI can be retrofitted into your current structure or whether you need to start afresh. Do you need to build your own systems or partner with a third party? These are the type of questions to be answered by your AI strategy. 

By Faeeza Khan

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