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The Advent of Ethical Artificial Intelligence in the Healthcare Industry

Introduction

As with any other industry, life sciences and healthcare is a big market of technology, especially the most talked-about technologies these days. Any guesses? Obviously, artificial intelligence and machine learning. Whether it is machine learning to help with automation tools or diagnoses, artificial intelligence plays an essential role in streamlining medical processes so the physicians can focus on what’s more crucial: helping the patient. 

A recent survey by Software Advice depicts a vast amount of patients who trust AI applications in healthcare. 

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Artificial Intelligence to Transform Healthcare as We Know It

The 20th century has a new dictum: everything that can be automated will be automated. Artificial intelligence’s (AI) unstoppable power is reverberating across all industries. However, in healthcare, it can be truly life-changing. Technological experts promised that AI and machine learning would transform the healthcare industry with novel applications that could streamline workforce, reduce human error, improve drug recovery, and find new, effective drugs.

The concept of AI has been around floating since 1956, but it has made a significant improvement in the last decade. From drug development to clinical research and insurance, AI applications are disrupting the way the health sector works to improve patient outcomes and reduce patients’ bills. The total public and private investments in AI in the healthcare industry are absolutely stunning. According to Allied Market Research, the artificial intelligence in the healthcare market is projected to garner $22.79 billion by 2023 with CAGR of 48.7% from 2017 to 2023.