Tuesday, March 14, 2017

Top Artificial Intelligence Companies in Healthcare to Keep an Eye On - The Medical Futurist

Artificial Intelligence has to and will redesign healthcare

No one doubts that artificial intelligence has unimaginable potential. Within the next couple of years, it will revolutionize every area of our life, including medicine. Although many have their fears and doubts about AI taking over the world, Stephen Hawking even said that the development of full artificial intelligence could spell the end of the human race. However, I am fully convinced if humanity prepares appropriately for the AI-age, artificial intelligence will prove to be the next successful area of cooperation between humans and machines.
We already experience a very primitive form of AI when we chat online with vendors, customer service representatives, the interaction can be as simple as a greeting or a multi-step inquisition about a product, model number and the problem your are encountering.  The power of this simple tool allows one employee to be able to manage five or more chats.  It is preprogammed with a script not unlike a simple macro in a word processor.

True artificial intelligence is a result which is more than the sum of input/output, calculations or what is stored in memory. It requires creativity, imagination and true cognition.

Despite the hype it will be some time until true AI is with us.  Our current level of technology is probably not going to yield the result.  We hear about Quantum computing which may be more like what is needed.

Just look at this picture taken in a Hungarian hospital in the capital city, Budapest. The personnel manages patients’ appointments MANUALLY on a huge black board, and I do not even want to comment on the index-card holder. The whole scene is rather from an early 20th century hospital than a healthcare institution way in the second decade of the 21st century.

In reality what we use is a computerized data base, SQL and a search engine...a far cry from artificial intelligence, not AI.

It is obvious that such systems are unsustainable, and artificial intelligence could offer help. And some entrepreneurs already realized the huge transformative as well as financial potential in medical AI. Researcher Frost & Sullivan said artificial intelligence systems will generate $6.7 billion in global revenue from healthcare by 2021, compared with $811 million in 2015. The market is truly booming, hence start-ups grow out of nowhere like mushrooms. So, let me introduce you to companies which are on the best way to democratize healthcare through artificial intelligence. It is truly worth keeping an eye on them, since they are great partners in building a more transparent and effective healthcare.

1) Google Deepmind Health

Recently, the AI research branch of the company launched its Google Deepmind Health project, which is used to mine medical records in order to provide better and faster health services. These words are not just empty phrases; Google Deepmind is able to process hundreds of thousands of medical information within minutes. Although research into such data-harvesting and machine learning is in its early phase, at the moment Google is cooperating with the Moorfields Eye Hospital NHS Foundation Trust to improve eye treatment.
Google DeepMind Health - Artificial Intelligence Companies in Healthcare
Also, Verily, the life sciences arm of Google’s umbrella corporation, Alphabet is working on its genetic data-collecting initiative, the Baseline Study. It aims to use some of the same algorithms that power Google’s famous search button in order to analyse what makes people healthy. This also includes experimenting with disease monitoring technologies, including a digital contact lens that could detect blood sugar levels.

2) IBM WatsonPaths

IBM Watson launched a project called WatsonPaths in collaboration with the Cleveland Clinic Lerner College of Medicine of Case Western Reserve University. WatsonPaths consists of two cognitive computing technologies that can be used by the AI algorithm, Watson, which are expected to help physicians make more informed and accurate decisions faster and to cull new insights from electronic medical records (EMR)


And there are many other small but innovative companies in the market about to release their prospective AI contributions.




Others



Disrupting Medical Imaging

CloudMedX Health

3Scan

Enlitic

Bay Labs

Speeding up biological and drug development from years to weeks 

Atomwise

Recursion Pharmaceuticals

Whole Biome

iCarbonX

Deep Genomics

Turbine


The number of like-minded companies encompasses a wide variety of data analytics and free thoughts. The possible applications are inumerable.  Market place demand and evolution will take several years or even a decade to transform AI into something useful.

.Top Artificial Intelligence Companies in Healthcare to Keep an Eye On - The Medical Futurist


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