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Explore key Investment Trends, Companies-to-Action, and Growth Opportunities for AI in Healthcare Industry
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Artificial intelligence (AI) is exhibiting real promise across multiple industries. Among this Healthcare space is leading the charge when it comes to focused AI application development and attracting AI investment globally. With improvements in healthcare data acquisition and computing power, AI is becoming more of a reality each day. Frost & Sullivan projects, AI and machine learning will further evolve human and machine interaction across several so far know and probably not well-known applications in healthcare. In the short term (next 12 to 18 months), the priority will be to bring AI/cognitive platform technology use cases closer to clinical care to augment the physicians and even patients with actionable decision-making ability. Particularly, AI will begin to see fruition in the imaging diagnostic and drug discovery applications. In the next 2-3 years, AI will become a common theme across all digital initiative and platforms. Moving forward, as clinicians start to embrace early AI applications healthcare industry will start to recognize the limitations of AI and explore the balance between machine-human intelligence. However, Pricing for AI solutions remains critical as end-users are often not convinced to dedicate an additional budget for such IT capabilities. A cost-effective approach with clear evidence for potential ROI for both parties can help sustain market growth. Research Scope: As part of the growth opportunity research process, Frost & Sullivan analysts review the emerging application of AI across focused healthcare application areas by analyzing future industry needs, investment trends, market readiness, and evolving vendor ecosystem in the healthcare AI space. The main purpose of this study is to analyze and call out major growth opportunities for AI applications in the healthcare industry. Frost & Sullivan performed a qualitative factor analysis by evaluating critical attributes to identify and assess the top 10 AI applications in the Healthcare
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