The Yahoo Finance article discusses predictions for how artificial intelligence (AI) will impact various aspects of healthcare in 2024. The article includes insights from experts in the field, highlighting several key areas where AI is expected to make significant contributions:
AI in Healthcare Administration: AI is expected to play a major role in streamlining administrative tasks in healthcare. Companies like Microsoft, Amazon, and Google are developing next-generation tech to relieve doctors and medical staff from burdensome administrative duties. Health insurers are also exploring AI to automate the claims process.
Impact on Productivity and Costs: AI could boost productivity, reduce costs, and improve care in healthcare, especially as the industry faces challenges related to an aging population.
Investment Opportunities: The medical technology sector, including AI applications, is identified as a key investment theme. Despite the healthcare sector lagging in the market, this trend may change with increased health spending.
Expert Predictions for 2024:
- Google’s chief clinical officer, Michael Howell, expects healthcare enterprises to start seeing real value from generative AI.
- Amit Khanna of Salesforce predicts startups will automate the insurance approval process using AI.
- Kevin Zhang of Upfront Ventures sees AI improving contract management between insurance companies and doctors.
- Alexa Von Tobel of Inspired Capital anticipates AI will be used extensively in healthcare infrastructure, such as billing and patient care coordination.
- Michael Shpigelmacher of Bionaut Labs believes AI will facilitate innovation in brain-related treatments, particularly for neurodegenerative diseases.
- Ben Lamm of Colossal Biosciences expects the first AI-discovered drugs to enter clinical trials.
- Lee Schwamm of Yale School of Medicine predicts AI will be used to analyze clinical data for patient care predictions and back office automation.
- Axel Wirth of Medcrypt foresees AI being applied in various decision-making scenarios in healthcare, necessitating enhanced cybersecurity measures.
The article underscores the growing influence of AI in healthcare, suggesting that 2024 will see significant advancements and applications of AI in improving patient care, administrative efficiency, and healthcare innovation.