AI Articles and Analysis in Healthcare

Hearing loss is a condition affecting an estimated 48 million individuals in the U.S. While the degree of severity may vary across age groups, the Hearing Loss Association of America reports that hearing loss ranks third after arthritis and heart disease among the most common physical ailments.

Artificial intelligence -- especially machine learning -- is at it’s best when it is working with a large, analyzable data set, like text. But much of the data in the world isn’t in text form. Instead, it’s in the form of spoken words on video and audio recordings or even live events. This makes reliable voice transcription an important goal for artificial intelligence.

The implementation of artificial intelligence applications in the healthcare space is poised to impact clinical workflows, physician training and the medical education model. A recent report by Accenture predicts that the AI health market will grow to an estimated $6.6 billion by 2021 and a compound annual growth rate (CAGR) of 40 percent. This represents a significant increase from a market size of $600 million in 2014.

Dermatology is defined as a branch of medicine primarily focused on the evaluation and treatment of skin disorders, including hair and nails. Market research firm BCC Research projects that the global market for skin disease treatment technologies will reach $20.4 billion in 2020. Based on $17.1 billion in market revenue in 2015, this anticipated increase represents a five-year compound annual growth rate (CAGR) of 3.6 percent.

Artificial intelligence has already established a small but growing presence in the life sciences industry today, starting with drug discovery and development and now in emerging applications across the product life cycle.

The following brand partnership article was written by BIS Research analyst Rahul Papney, and edited by Raghav Bharadwaj of Emerj. For information about our advertising and publishing arrangements with brands, please visit our partnerships page.

Medical billing and coding is an integral component of healthcare. The medical billing outsourcing market alone is projected to reach $16.9 billion by 2021. The coding and billing process translates patient record information into standard codes which are used for billing patients and third-party payers such as a Medicare and insurance companies.

Chatbots are gradually being adopted into the healthcare industry and are generally in the early phases of implementation. Market research firm Grand View Research estimates that the global chatbot market will reach $1.23 billion by 2025. This projected growth reflects a compounded annual growth rate (CAGR) of 24.3 percent.