Based on data from Statista, the global market value of artificial intelligence (AI) in healthcare was approximately 11 billion U.S. dollars in 2021. Projections indicate that by 2030, the global healthcare AI market is expected to reach nearly 188 billion USD, growing at a compound annual rate of 37 percent between 2022 and 2030. It was mostly in the past decade that AI penetrated healthcare institutions and led to a massive response from the stakeholders, be it doctors, managerial workforce, diagnostic department, pharmacy or the patients. A lot is already being done, and there is immense potential for so much more in the healthcare ecosystem.

Today, with the help of AI one can book an appointment, seek medical advice through call centers where there may be a medical expert or AI based chatbot responding. Also, the doctors can look at the entire medical history of the patient, collated at one place, including latest diagnostic reports, which helps in inter-disciplinary medical advice when the patient needs to seek doctors of more than one department or of different hospitals. The medicines can be available at doorstep with the click of a button and AI also reminds and sets the next appointment when needed.

Today AI can be used to automate tasks such as scheduling appointments, processing claims, and managing inventory. The use of AI in healthcare administration helps to save time, enables ease of access to data as and when needed. This leaves the healthcare personnels with more time in hand that can then be utilised in providing better care to the patient, and also ensuring that they are happy and satisfied with the medical attention. For example, IBM Watson Health is a suite of AI-powered healthcare solutions that are used by healthcare providers to improve patient care. Watson Health can be used to analyze medical images, identify potential drug targets, and develop personalized treatment plans.

AI has been crucial in streamlining diagnosis and improving the clinical outcomes. It is possible because there is a vast amount of data available that helps in personalizing medicine for patients. The doctor can access information in one go and figure out that whether a particular medicine worked well or not, thus suggesting medicines after identifying the patterns and correlations with the speed of recovery. This obviously eliminates trial and error method for patients suffering from rare diseases and leads to quicker and better outcomes at a lower cost. Artificial Intelligence can also be used to analyze medical images and other data to identify potential problems early on when they are easier to treat. There are AI based tools that can detect breast cancers in the early stages without the need for mammography. They can be easily used by clinicians even in the remote parts of the country, making diagnosis of breast cancer accessible to all the women of the country. Then there are tolls that can determine the rate of recurrence risk of cancer and also evaluate the aggressiveness of tumors that could potentially lead to cancer. Creating these risk scores on the basis of biomarks and clinicopathological data, it is a boon for those who have suffered from cancer and are at risk of relapse. This early detection leads to nipping the problem in the bud.

Not many would know that AI can be can be used to analyze large amounts of data to identify new drug targets and develop new drugs more quickly and efficiently. This can lead to new treatments for diseases that currently have no cure. It has become an effective tool in the medical fraternity which, is working day in and day out to discover new drugs and cures for diseases. When Covid struck, it was AI that quickened the path to inventing the vaccine for this highly communicable disease, otherwise this process would have taken a long time.

Google DeepMind Health is a healthcare company that is developing AI-powered solutions to improve patient care. DeepMind Health has developed an AI-powered system that can help doctors diagnose diabetic retinopathy, a leading cause of blindness. Also, Apple HealthKit is a health data platform that allows users to track their health data, such as heart rate, sleep, and activity. HealthKit can be used to identify patterns in health data that may indicate a health problem. Such AI enabled wearable devices have become popular among users who keep health on priority.

Overall, AI and data analytics have the potential to transform the healthcare industry, making it more efficient, effective, and personalized. AI can play a pivotal role in developing precision medicine, ushering in an era where patients can be assured of quicker healing process, and personalised care that was not possible earlier. 

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