INTRODUCTION
T
he last few years have seen great advances in healthcare and lifesciences
technology, with some of the biggest breakthroughs driven by machine
learning and artificial intelligence (AI). Machine learning, AI, and other
intelligent technologies are powering devices and software applications that
allow us to accelerate drug discovery, development, and approval; create
personalized patient treatment plans that lead to healthier outcomes;
diagnose diseases and abnormalities earlier and more accurately; and build
more efficient infrastructure for healthcare and life sciences organizations.
The healthcare industry is aggressively investing in intelligence: Tractica,
a leading market research firm, projects that spending on healthcare AI
technology will surpass $34 billion by 2025, compared to $2.1 billion in
2018
1
. And according to Accenture, those investments will pay off, with the
top AI healthcare applications predicted to create $150 billion in annual
savings by 2026
2
. Healthcare and life sciences organizations are drawn
to AI and machine learning because those technologies can quickly and
continuously analyze huge sets of data, providing increasingly accurate
projections and insights over time.
1
https://www.tractica.com/newsroom/press-releases/healthcare-artificial-intelligence-software-hardware-and-
services-market-to-surpass-34-billion-worldwide-by-2025/
2
https://getreferralmd.com/2019/04/10-powerful-examples-of-ai-used-in-healthcare-today/
That's not to say the relationship between healthcare and life sciences and
technology is perfect, however. The industry is struggling to adopt innovation
quickly and meaningfully, and many providers are frustrated by systems
that actually hamper their productivity—with electronic health record (EHR)
systems often taking the brunt of the blame.
But machine learning is far from "just another technology in the stack." It has
the power to overcome healthcare and life sciences challenges by providing
a platform for operational and clinical efficiency, driving costs down, and
improving patient care. In this eBook, we'll examine how advances in
machine learning can power a stronger relationship between healthcare and
technology, paving the way for a new era of clinical excellence.
Before we dive into that conversation, however, we'll take a look at some
specific success stories that demonstrate how leading healthcare and life
sciences organizations are using machine learning to improve efficiency and
outcomes today.
Introduction—Powering a new
era of clinical excellence
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