Hospital Artificial Intelligence Market to Garner Massive Recognition Worldwide in the Years to Come : General Electric, IBM

Hospital artificial intelligence market shipments at $19 billion in 2016 are forecast to reach $50 billion dollars, worldwide 2023

The 2017 study has 90 pages, 35 tables and figures. Worldwide markets are poised to achieve continuing growth as the artificial intelligence software increases diagnostic excellence, saving lives and lowering care delivery costs.

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Hospital Artificial Intelligence

Hospital care management can leverage augmented intelligence. Artificial intelligence is useful for providing highly tailored insights about individual patients or to work across an entire population. Artificial intelligence is useful for helping providers effectively address healthcare delivery.

The intersection of healthcare and artificial intelligence represents a market opportunity. New strategies are being developed by companies to bring A.I. to healthcare. The business challenges around those efforts are being addressed collectively in partnerships and in forums to bring the technology into the market. Artificial intelligence has an impact on patients, doctors, hospitals, clinical facilities, and the healthcare industry overall.

The ability of an intelligent system to learn from data without upfront human intervention brings significant change to the healthcare delivery system. It relies on the use of unsupervised and semi-supervised machine learning techniques. Segmentation, dimensionality reduction, anomaly detection and pattern recognition are replacing supervised manual techniques for diagnosis and care delivery.

Major factors driving the market for artificial intelligence in hospitals include its ability to provide better diagnostic accuracy under a variety of testing conditions. The worldwide aging population creates demand for increased accuracy of early diagnosis. An increase in the number of people with end stage diabetes, cancer, and severe respiratory diseases creates need for advanced medical diagnostic capabilities that work earlier in the evolution of disease, creating the ability to implement therapies that are lifesaving.

“Partners HealthCare and GE Healthcare are launching a 10-year partnership to bring artificial intelligence into every area of hospital operations. IBM brings Watson to the hospital AI landscape in hospitals. “Progress is demonstrated by the health care AI launch to the Massachusetts General Hospital and Brigham and Women’s Hospital Center for Clinical Data Science (Partners). Multidisciplinary teams from Partners and GE Healthcare have worked to develop applications for AI in every step of the patient journey from the moment they are admitted to the hospital. “Long-term, the goal is to develop applications that improve the way illnesses are diagnosed, change how treatment is developed, decrease unnecessary biopsies, streamline clinical workflows, and increase the amount of time clinicians spend with patients.”

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Artificial Intelligence Market Forecasts

Hospital artificial intelligence market shipments at $19 billion in 2016 are forecast to reach $50 billion dollars, worldwide 2023. These represent a very specialized type of analytics systems able to address a wide range of issues that can be newly managed with digitization. Steady growth is anticipated because the AI units are offering breakthrough treatments and diagnostic capabilities.

Companies Profiled

Market Leaders

- General Electric
- IBM

Market Participants

- Alphabet / Google
- GlaxoSmithKline (GSK)
- Merck
- Prognos
- Quest Diagnostics
- Safeguard Scientifics
- Zebra

Companies Mentioned

- Drug discovery artificial intelligence
- Exscientia
- Berg
- Numerate
- twoXAR
- Atomwise
- BenevolentAI.

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