How AI Will Shape the Healthcare Industry
One of the most popular industries which values patents is the healthcare industry. If you add AI into the mix, you'll realize that we're at the brink of an AI-healthcare explosion. AI is one of the hottest trends in tech right now, and perfectly complements much of the work flows in healthcare. The goal of this article is to help you uncover key trends in AI and healthcare, and discover how patents can help you to succeed in this ever-evolving field.
The potential for integrating AI into healthcare and medicine is endless. Artificial intelligence can help healthcare practitioners and patients overcome diagnostic issues and speed up treatment programs. As the human population continues to grow, there is more and more demand for medical care. However, many healthcare budgets are limited. Enter AI. An AI solution can easily swoop in and extend healthcare budgets by decreasing costs for treatment and increasing precision in diagnosis.
One of the major costs in healthcare is emergency and outpatient care. Many governments put significant effort into educating their citizens on how to self-diagnose themselves to reduce the waiting lines at emergency care centers. There is no need to walk into a hospital with a simple flu, they suggest. AI has a key role in self-diagnosis – apps like ADA can help users to self-diagnose and avoid long lines. These apps are also working on personalized medicine solutions.
The other major healthcare cost is treatment for the two main causes of death: heart disease and cancer. For these diseases, spending skyrockets because of the high number of late diagnoses. In addition, it's a well-known fact that the later you receive a diagnosis, the less likely you are to survive cancer – so proper early diagnosis is crucial. AI can swoop in, and help patients and doctors properly diagnose cancer, saving countless of lives and millions of dollars in healthcare costs. Apps like Freenome are working on improved early detection and diagnosis for cancer. And, we've all heard about IBM’s Watson which is already beating human doctors in its ability to diagnose cancer.
As more and more AI startups begin to emerge in the healthcare sector, it is increasingly important to protect your innovations through patents. An AI patent is complicated and very innovative as of now – but, you want to make sure that you don’t get blocked out of the market by your competitors. A patent is your most precious business asset because it helps you to get more funding and increase your valuation.
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