AI in Healthcare and Wellness Is Growing Rapidly, But Most Are in Early Stages of Adoption
A new report says 35% of health enterprises have initiated the integration of AI solutions.
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[Image source: Krishna Prasad/MITSMR Middle East]
AI in healthcare is a game changer. It is used for everything – from answering patient questions to assisting with surgeries, developing new pharmaceuticals, and finding new links between genetic codes. According to reports, the AI healthcare market is projected to be worth $187 billion in 2030 as we continue to see considerable changes in how medical providers, hospitals, and pharmaceutical and biotechnology companies operate.
According to Vi’s annual reports, The State of AI in Healthcare and Pharma and The State of AI in Wellness, which provide an in-depth look at the transformative role of AI across the healthcare, pharma, and wellness sectors, 35% of health enterprises have initiated the integration of AI solutions, and a vast portion of the sector remains at the preliminary stages of adoption.
This critical juncture highlights the significant potential for AI to revolutionize healthcare and wellness through enhancing diagnostic accuracy, streamlining administrative operations, and personalizing patient care.
Key highlights from the reports are:
- AI usage is projected to grow exponentially across the health industry, with an expected 37.3% annual increase, highlighting an urgent call for organizations to adapt.
- Analyzing AI adoption within healthcare and pharma indicates a pivotal moment for technological transformation.
- The profound impact of AI on improving diagnostic precision, administrative efficiency, and offering personalized care and member experiences.
- In the health and wellness sector, there are three primary areas where AI is disrupting traditional methods: personalizing prospect acquisition, optimizing member journeys, and automating business processes.
- AI shows an enhanced capability to significantly reduce Customer Acquisition Costs (CPA) and increase the Lifetime Value (LTV) of members across the health and wellness sectors.
“AI technology continues to drive a massive shift across the health sector, presenting unparalleled opportunities to enhance health outcomes and enterprise operational efficiencies. These reports serve as a navigational guide for health organizations through this technological evolution, enabling them to fully harness the potential of AI,” said Omri Yoffe, CEO of Vi.
At the NextTech Summit, the region’s foremost summit focusing on emerging technologies, global experts, MIT professors, industry leaders, policymakers, and futurists will discuss AI Black Box, Quantum Computing, Enterprise AI among many other technologies and their immense potential. The summit will be held on May 29, 2024, in Dubai, UAE.
