The clinical artificial intelligence market is expected to reach a $6.6 billion valuation in 2021, according to a recent Accenture report, and it is unlikely to slow down, with the market predicted to grow more than tenfold in the next five years.
In all, per the report, AI applications represent potential annual cost savings of $150 billion for the U.S. healthcare industry by 2026. Here are the applications with the most significant near-term impact, and their potential yearly savings:
1. Robot-assisted surgery: $40 billion
2. Virtual nursing assistants: $20 billion
3. Administrative workflow assistance: $18 billion
4. Fraud detection: $17 billion
5. Dosage error reduction: $16 billion
6. Connected machines: $14 billion
7. Clinical trial participant identifier: $13 billion
8. Preliminary diagnosis: $5 billion
9. Automated image diagnosis: $3 billion
10. Cybersecurity: $2 billion
View the full report here.
More articles on AI:
Physicians see 25% of their work being automated in the future, survey finds
Crouse Health deploys AI-enabled stroke detection
Former Goldman Sachs CIO joins Memorial Sloan Kettering spinoff: 4 things to know