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How AI is Transforming the Future of Healthcare

Artificial intelligence has been playing a critical role in industries for decades. AI has only recently begun to take a leading role in healthcare. According to Frost & Sullivan, AI systems are projected to be a $6 billion dollar industry by 20211. A recent McKinsey review predicted healthcare as one of the top 5 industries with more than 50 use cases that would involve AI, and over $1bn USD already raised in start-up equity2. With such exponential growth, what does this mean for your organisation? How can you benefit the most from this game-changing technology?
Artificial Intelligence was initially conceptualised in the 1950s with the goal of enabling a machine or computer to think and learn like humans. AI is widely used by companies like Facebook (e.g. recognising who is in a photo), and Google (e.g. providing search suggestions, or identifying the fastest route to drive). However, in the healthcare industry, AI has only made small steps towards a vast and multidimensional opportunity.

There are various capacities where AI is emerging as a game-changer for healthcare industry. Below are a few examples in use today:

In order for an AI solution to be successful, it requires a vast amount of patient data to train and optimise the performance of the algorithms. In healthcare, getting access to these datasets poses a wide range of issues:

Developing regulations for a technology that is cloud-based and constantly evolving poses obvious challenges. How can patients be protected? How do you provide adequate regulatory oversight of a solution that is constantly learning and evolving – rather than a distinct, version-controlled medical device? For AI solutions that involve direct patient interactions without clinician oversight (such as chat-based primary care tools), it poses the question of whether the technology is a 'practitioner of medicine' rather than just a device. In this instance, will it extend to needing some form of medical licence to operate – and would a national medical board agree to actually grant this licence?
This also leads to the question of who is liable should anything go wrong. If diagnosis or treatment is controlled by this technology, does the AI company assume liability for the patient’s wellbeing? In parallel, will insurance companies ever underwrite an AI tool?
User adoption is another barrier to utilisation. The human touch of interacting with a doctor can be lost with these types of tools. Are patients willing to trust a diagnosis from a software algorithm rather than a human? Meanwhile are clinicians willing to embrace these new solutions? In an industry that still widely uses the fax machine, it may be unrealistic to expect rapid adoption rates beyond proof of concept studies.
The best opportunities for AI in healthcare over the next few years are hybrid models, where clinicians are supported in diagnosis, treatment planning, and identifying risk factors, but retain ultimate responsibility for the patient’s care. This will result in faster adoption by healthcare providers by mitigating perceived risk, and start to deliver measurable improvements in patient outcomes and operational efficiency at scale.
With a plethora of issues to overcome, driven by well-documented factors like an aging population and growing rates of chronic disease, the need for new innovative solutions in healthcare is clear.
AI-powered solutions have made small steps towards addressing key issues, but still have yet to achieve a meaningful overall impact on the global healthcare industry, despite the substantial media attention surrounding it. If several key challenges can be addressed in the coming years, it could play a leading role in how healthcare systems of the future operate, augmenting clinical resources and ensuring optimal patient outcomes.
Bill Gates (1996) “We always overestimate the change that will occur in the next two years and underestimate the change that will occur in the next ten.”