Overview: Technological progress is rapidly
changing the basic work culture globally across all fields to increase
efficiency and output. Developments in this field are a result of extensive
research not only in the literature but also in the equipment. With development
of artificial intelligence (AI) the Health Care Industry Analysis has greatly developed. AI is the ability of computer
algorithms to approximate conclusions without direct human interaction.
Evolution:
The first research relating
to the healthcare sector dates back to 1960s to 1970s which led to the
discovery of the first expert system named Dendral which was aimed at the study
of hypothesis formation. An expert system in AI refers to a system that uses
the decision making ability and logical reasoning of human experts to tackle
problems. AI research in Organic Chemistry led to the discovery of MYCIN which
was an expert system that used AI to identify bacteria causing severe
infections such as men ingitis and to recommend antibiotics with the dosage
adjusted for patient’s body weight. In the 1980s and 1990s researchers and
developers began focusing on the idea that AI systems in healthcare must be
designed to accommodate the absence of data and expertise. Further artificial
neural networks that were designed to understand human brains based on data
from animal brains also began to develop.
Further developments include:
·
Widespread growth of electronic health record systems.
·
Laser technology is being developed to increase its healing
capacity beyond eye problems.
·
Robotics is used in the medical field by means of robot
assisted surgeries like coronary artery bypass. Zeus and da Vinci robot systems
are used in gastrectomy and gynecology.
·
Three dimensional imaging is now available for ultrasound
procedures.
·
AI is being coupled with telecommunication to procure
telemedicine which involves the distribution of information and medical
consultation through electronic media.
·
Automated suturing is expected to be in practice in the near
future.
·
Advanced imaging in the form of laparoscopes is now used
where the internal abdomen can be extensively viewed.
Market Scenario: AI is now another
investment opportunity for several medical companies. The effort is towards
expanding the database of the healthcare market and with the help
of AI, to make it more accessible to the general public. Majority of the
investments in healthcare related to AI are being made by tech giants like
Google, Amazon and Apple.
Competition: Healthcare is now
coupled with AI to produce revolutionary results. Since a nation’s development
is majorly indicated by its healthcare sector, it is only natural to note that
competition has led to innovation. Ireland based Medtronic is the largest
medical device company in the world serving more than 140 countries
worldwide specializing in diabetes
management, cardiac rhythm monitoring and surgical devices followed by New
Jersey based Johnson & Johnson which is famous for its orthopedic and
cardiovascular fields. The German company Seimens Healthineers is a leader in
medical imaging and laboratory diagnostics.
Conclusion: Major technical
and medical giants are coming together to augment AI development. Currently the
AI sector is considered narrow however; the trend is changing as healthcare market research reports reveal
that a total of 550 AI startups were funded in the U.S. in 2016. Healthcare industry analysis reveals a
projected growth rate of about 40% over the next 10 years. Developments in
Radiology and Cancer treatment are being funded by giants like Google and IBM
further strengthening the integration of medicine and technology.
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Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
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