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article imageAI adoption and investments growing among health industry leaders

By Tim Sandle     Oct 10, 2019 in Health
AI has proven to be a transformative force in entertainment, retail, technology but has struggled to gain traction in healthcare, until now. A new survey finds a recent surge in AI for healthcare investments.
A new survey, by Optum (an information and technology-enabled health services company) shows that that the application of artificial intelligence in healthcare is changing. AI is not only being widely adopted and invested in but it is also expected to drive an increased demand for AI talent. This matches a similar trend reported by KPMG.
The survey, titled "OptumIQ Annual Survey on AI in Health Care", was conducted of 500 health care executives. This revealed that there was nearly an 88 percent increase in healthcare organizations that have a strategy in place and have implemented artificial intelligence, with these organizations having put a strategy in place in either 2018 or 2019.
The healthcare leaders also estimate that their organizations will invest an average of $39.7 million over the next five years in artificial intelligence and other digital solutions for healthcare. This figure is $7.3 million greater than what was estimated last year. In relation to this, a positive return on investment is now expected to take less time than previously calculated. In this context, this could be less than three years in some cases. Around 50 percent of the respondents expect to see cost savings in three years as a result of investing in AI.
The investment in artificial intelligence will also begin to impact on jobs. Of the thought leaders surveyed, 91 percent estimate that between 10 to 50 percent of new roles entering the healthcare sector will eventually require experience working with artificial intelligence systems.
Commenting in the responses, Dan Schumacher, president and chief operating officer of Optum states: "These findings validate that AI is vital to holistically transform health care. It’s encouraging to see executives’ growing trust in, and adoption of, AI to make data more actionable in making the health system work better for everyone. Working together, I am confident we can improve the quality, experiences and reduce the total cost of health care in meaningful, sustainable ways."
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