Medical AI will be a $ 200 billion industry by 2025
AI is revolutionizing the medical industry.
The health care sector has been one of the fastest supporters and users of AI technologies, where its application is literally life-changing. It has been predicted that Medical AI will be a $ 200 billion industry by 2025 and it’s easy to see why. There has been an exponential increase in the amount of medical data being produced over the past few decades with estimation of accessible health-related data to be over 40 zettabytes (40 trillion gigabytes!). It’s obviously just not possible for any human practitioner to keep with this increase in data.
We are already seeing AI solutions being used in a variety of ways, including AI assisted medical robots, AI interactive apps and most notably using AI platforms to help diagnose illnesses based on medical images, such as CT scans, X-rays and MRIs. This field, in particular, has made tremendous strides in the past few years and, in fact, AI platforms are now able to more accurately diagnose a wide range of cases based on medical images than their human counterparts. Although implementing AI solutions in healthcare is a fairly new trend, it’s already becoming clear that this is an exciting area that may be hugely beneficial in terms of saving lives.
Although AI is being applied to solve and optimize a wide range of applications, there are of course some important points that need to be taken into consideration when implementing an AI solution in smaller scale niche markets, for example, accessibility and human-AI interaction.
This becomes relevant when trying to increase usage and expand the areas of application to a general market. It is important to have user-friendly interfaces that can help mediate the interaction and ensure correct deployment of the AI system.
Trustable AI is another important factor. This is vital when using such systems for delicate and intricate applications, especially when lives may be at stake as in the case of medical AI. Trustability is also closely linked to how transparent and understandable the operation of the AI is. As not all end users will be advanced programmers, such technical aspects can contribute to a bottleneck in distributing and propagating wider use of AI. Therefore, it is becoming more important for solution providers to develop user-friendly, easily integrated, and understandable systems. Unfortunately, such improved systems have widely been out of reach, until recently…