AI Articles and Analysis about Knowledge management

Business processes are defined in large part by the data within an organization. Value-driven data, by definition, represents higher-quality data. The importance of high-quality data cannot be overlooked. Research from MIT, even from before the pandemic AI boom, showed that insufficient data can cost as much as 25% of the revenue for most companies.

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The applications of AI in the healthcare and life sciences industries are vast, with data-powered algorithms and analytics promising to upend the status quo. Applications, including the use of AI to interpret medical imaging, optimize drug discovery and development, analyze large-scale data sets to identify patterns among patient populations, and streamline provider workflows, are already transforming the industry. 

Over the last decade, public introductions of advanced technologies from big tech firms, such as Google Glasses and Meta's (then-Facebook) Metaverse platform, were met with infamous disappointment. In stark contrast, initial iterations of generative AI (GenAI) in large language models and other tools deployed across the global economy by smaller players like OpenAI in the last few years are having a far more lasting impact. A recent report from McKinsey noted that the staying power of GenAI could add $2.6 trillion to 4.4 trillion USD annually to the global economy.

Whether or not AI will replace humans depends on who you ask. Opinions vary, but part of the difficulty of answering the question has to do with the difficulty of quantifying what even counts as AI from a technology standpoint.

Far beyond surface-level 'chatbot' software, and other customer-facing support systems, the same generative AI (GenAI) capabilities having direct impacts across language workflows in front-office tasks in financial and legal services is also having a direct impact on how research teams in the life sciences space are targeting solutions for rare diseases and novel treatments. 

Headquartered in Salt Lake City, Utah, Intermountain Health is a not-for-profit healthcare system comprised of 385 clinics and 33 hospitals dedicated to creating healthier communities and helping patients thrive. Intermountain Health merged with SCL Health in 2022 and now employs more than 58,000 people. They serve patients in Kansas, Colorado, Utah, Nevada, Wyoming, Idaho, and Montana.

Companies that use AI copilots experience numerous benefits, including streamlined processes, improved customer experience, and cost savings. Large language models (LLMs) form the basis of many AI copilot applications. While LLMs have a remarkable capacity to generate humanlike text, that same capability is the reason businesses need to exercise caution in order to prevent misapplications of this otherwise transformative technology.