AI in Health Care Continues to Make Gains

In 2019, Omdia estimated that the healthcare AI market revenue was some $823 million, which is a small fraction of the $16 billion AI software market. Omdia estimates that by 2025 the AI in health care market will expand to $10 billion, with strong tailwinds from equipment. There is a lot of available funding for investment in the market, but the technology is still in its early stages of dvelopment and practitioners remain tentative about how and where they want to apply AI in health care.

Health care providers (70%) said they use AI on a daily basis. AI algorithms help walk technicians through a scan. Radiologists also use scans to help with diagnosis and work as a “second opinion” of sorts. Among respondents, 85% said it saved them time; 69% it saved costs.

COVID-19 has augmented the use of AI in healthcare to screen patients for symptoms of COVID-19 and prioritize care, with algorithms trained to identify pulmonary and cardiovascular symptoms.