How Growth in Artificial Intelligence Market can Help in Transforming the Healthcare Industry


AI and chatbots have taken many industries by storm and like all the other industries, healthcare sector is expected to witness paradigm shifts. AI has shown great potential for being integrated to almost every industry on a global level. The reasons are the need for less human intervention, extremely fast processing speed, and seamless integration to the whole system. In the healthcare sector, the possibilities of AI integration are infinite. Only a few medical apps and hospitals have integrated AI to their systems and they are witnessing great response from their patients/clients. AI has automated basic processes such as hospital registration, advice, prescription, and billing, reduced a great amount of pain that patients would have to bear otherwise.

The global artificial intelligence market is growing fast. The market is growing at a Compound Annual Growth Rate (CAGR) of approximately 40 percent with a current market value of $3.5 billion. The market is expected to attain a market value of $26.4 billion by 2023. AI is often associated to robotics due to its extended use in the field, is being integrated to machine learning, Natural Language Processing (NLP), predictive analysis, and image recognition. Robotics, vision, and human speech are also the fastest growing segments in the AI universe. The technology is contributing its share to industries such as finance, app development, consumer engagement and healthcare. Among every other industry, the contribution of AI towards healthcare will be groundbreaking as currently, even the apps and services with basic AI integration are doing a great job.

AI Supported Mobile Prescription and First Aid:

Doctors are turning towards mobile prescription platforms where they can advise patients as per their symptoms/condition through text messages and video calls. However, such an approach is only useful for non-serious health issues such as fever, common infections, small injuries, etc. AI-enabled apps offer information about a doctor’s availability in a specific hospital/private facility along with scheduling an appointment and generating online prescriptions as per the physician’s directive. The apps collaborate with qualified doctors across all the major cities in a region or locality for increased coverage and convenience.

Ai-enabled healthcare apps also offer first aid information in one click. Such apps also offer information regarding safety tips in extreme weather or crisis, first aid in everyday situations, and for accidents as well. Many of these apps are also equipped with an emergency situation feature that can call Emergency Medical Services (EMS) with just a click.

Self Medication and Drug Use:

Another aspect of mobile AI focuses on the informed individuals who clearly understand their physical condition and well-being. Prevention is better than cure and many individuals follow practice it in real life. Such individuals prefer to avoid diseases and bad health by detecting the early signs, changing their lifestyle, and taking precautions. Such an advance approach comes in handy in many situations. Certain apps focus on this approach and offer relevant information.

Healthcare professionals have always struggled in providing a satisfactory consumer experience and maintaining stringent deadlines. The reasons are manual processes that are time-consuming and require human labor. However, AI has changed the game by automating the majority of processes and aiding the healthcare sector with what it actually needed.