Generative artificial intelligence in healthcare is poised to grow by nearly $21 billion by 2032, PYMNTS reported Oct. 4.
As of 2022, generative AI in healthcare is valued at $1 billion, and according to the report, technology giants, venture capitalists and private equity firms will be the investors that contribute to the technology's growth.
But is healthcare ready for generative AI's growth? A survey from management consulting firm Bain & Co. said some of the technology's main barriers include lack of resources, expertise and regulation.
The survey also said that generative AI in healthcare is "nascent" and "needs time to prove its efficacy and to earn public trust."