S2, EP9 Artificial Intelligence in Healthcare

S2, EP8 Blockchain and Healthcare
March 16, 2023

The application of artificial intelligence (AI) can provide substantial improvements in all areas of healthcare from diagnostics to treatment.

o   AI tools will facilitate and enhance human work and not replace the work of physicians and other healthcare staff.

o   AI is ready to support healthcare personnel with a variety of tasks from administrative workflow to clinical documentation and patient outreach as well as specialized support including image analysis, medical device automation, and patient monitoring

o   The benefits of AI can be accessed from your smartphones

Recent health-tracking apps and search platforms include ChatGPT and EyeQuix. Such services are increasingly relevant for underserved regions and places lacking specialists and help reduce costs and prevent unnecessary exposure to contagious illnesses at a given healthcare facility.

What is AI’s role in the reduction of healthcare costs in the US?

§  It is estimated that AI applications can cut annual US healthcare costs by USD 150 billion in 2026

§   A large part of these cost reductions stem from changing the healthcare model from a reactive to a proactive approach, focusing on health management rather than disease treatment

While the concept of AI in healthcare is clear, we still need substantial independent verifications (review, analysis, and testing) to prove patient safety and efficacy.