The Increasing Use Of Artificial Intelligence (Ai) Technologies In Areas Ranging From Pharmaceutical Drug Development To Patient Care Is Expected To Drive The Artificial Intelligence In Healthcare Market.

 

Artificial Intelligence In Healthcare

Artificial intelligence (AI) is the creation of one-of-a-kind systems using algorithms and software that can accomplish specific jobs without human participation or instructions. Machine learning, natural language processing, reasoning, and perception are examples of artificial intelligence technology. In healthcare, AI is utilised to approximate human cognition and analyse complicated medical and diagnostic imaging data. In healthcare, artificial intelligence is generally employed to assess the relationship between treatment strategies and patient results. AI programmes are being used in medical procedures such as diagnostics, medication research, personalised treatment, and patient monitoring. For example, AI could help in healthcare processes by assessing vital signs, asking questions, and prescribing medications to patients.

 

The artificial intelligence in healthcare market is predicted to be worth US$ 3,285.0 million in 2020, with a CAGR of 56.2 percent during the forecast period (2020-2027). The epidemic of COVID-19 has expedited the use of artificial intelligence in healthcare. As a response to the COVID-19 issue, AI-based tools and solutions were applied on a broad scale. All AI-powered gadgets are reacting dynamically to the epidemic, from diagnosis through treatment and prevention of fresh transmission. Microsoft, Google, Apple, Amazon, and Facebook, among others, are engaging in programmes involving remote communication between patients and therapists, contact tracing, and drug research.

 

The increasing use of artificial intelligence (ai) technologies in areas ranging from pharmaceutical drug development to patient care is expected to drive the Artificial Intelligence In Healthcare Market. Furthermore, an increase in collaborations between leading AI vendors and life science companies is expected to result in the rapid adoption of AI in medical devices and drug development. For example, Owkin France, a predictive analytics company, raised US$ 11 million in a Series A funding round in January 2018 to develop artificial algorithms for speeding up the drug development process. This fund will be used by the company to expand its innovative platform: OWKIN Socrates, develop high-value partnerships with leading healthcare organisations, and fuel internal growth.

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