Artificial intelligence (AI) in healthcare is a hot topic these days. For good reason, if you ask me. According to some estimates, total public and private sector investment in healthcare is expected to reach $6.6 billion by 2021. Even better, “Accenture predicts that the top AI applications may result in annual savings of $150 billion by 2026.”
Accenture’s analysis of healthcare services with greatest cost-saving potential as the result of AI. Source.
As you might expect, I believe wholeheartedly in the promise of AI in healthcare. After all, I lead the Geneia Data Intelligence Lab whose focus is using AI and leading-edge data science techniques to drive lower costs for health plans, physicians and employers.
That said, I, too, am well aware of the hype surrounding AI in healthcare, as are many of my peers. I suspect that’s why I so enjoyed the AI Fireside Chat I hosted with Josh Newman, MD, MSHS, chief medical officer, Salesforce; Nassar Nizami, senior vice president and chief information officer, Thomas Jefferson University Hospital; and Bharat Rao, Ph.D., partner and leader data analytics for Healthcare and Life Sciences, KPMG. Throughout our conversation, each of them was candid about the potential, promise and hype of AI in healthcare.
ICYMI, we previously posted two videos from the AI Fireside Chat, which you can watch here: https://www.geneia.com/news-events/resources. Today, we’re sharing three additional videos:
- What can AI and data do for public and population health to intervene before individuals become sick?
- Are you concerned about fears that AI will take over the world?
- What are your closing thoughts about AI in healthcare?
One of the topics we tackled, “Are you concerned about fears that AI will take over the world?” was particularly illuminating. As Dr. Newman shared,
With every technology that we have, there are dangers and I think AI is probably the same. With transparency, a kind of acceptance of that and keeping our eyes wide open, we can prevent these risks while still using it for as much advantage as possible.
Dr. Rao summed up the debate by saying, “AI is a tool. We use knives to cut vegetables and to kill people.”
Thomas Jefferson University Hospital’s Nizami made a point in his closing statement about which there’s strong agreement, “AI has a lot of promise. Data is siloed and it needs to be liberated. The faster we can make data available, the better off we’ll be.”
To learn more about how Geneia is using AI, download our white paper, Using AI to Drive Lower Healthcare Costs.