AI in healthcare isn’t a new thing. Over the years, the involvement of AI ML in the healthcare industry has been increasing consistently.
As per the statistics:
- Artificial Intelligence in the healthcare market size will reach $120.2 billion by 2028.
- The Internet of Medical Things (IoMT) can reduce healthcare expenses by $300 billion in the coming years.
- Investment in healthcare artificial intelligence solutions will cross $6.6 billion by 2021 in both the public and private sectors.
Undoubtedly, AI development services in the healthcare sector are flourishing today. In this situation, if you want to develop an AI-based healthcare app, there must be a million questions popping into your mind—
- How much do AI development services cost?
- What challenges do AI, ML, and IoT in healthcare face?
- How is AI in healthcare beneficial? Etc.
This guide will help you understand all about AI development in healthcare. So, let’s get started.
Benefits of AI in Healthcare
Improve healthcare quality
Many developing countries are struggling to provide basic healthcare amenities to their citizens today. Luckily, with AI development solutions, the gap between the development and undeveloped healthcare infrastructure will reduce. AI will improve patient diagnostic and treatment efficiency throughout the globe.
Today, healthcare and fitness apps maintain records of patients’ medical data in detail. This allows doctors and physicians to analyze a patient’s condition in real-time and provide a quick diagnosis. The early diagnosis can treat several chronic diseases like cancer, Alzheimer’s, etc.
Speed up treatment
AI in healthcare can speed up medical treatments. AI algorithms can detect biomarkers that suggest infection in the body. It will minimize the manual efforts of examining a patient’s body, which will improve the treatment speed.
Cost-efficient medical services
Compared to traditional medical services, AI healthcare services are more cost-efficient. AI algorithms can predict lab results based on a patient’s personal information and share it with doctors in real-time. In return, this will reduce frequent visits to labs and clinics that can lower medical services costs.
These days AI bots are assisting surgeons in performing 100% successful surgeries. AI machines provide constant updates on the patient’s blood loss, heart rate, pain level, and other details. This allows surgeons to make quick decisions during complicated surgeries and save patients’ lives.
Enhance medical support
Artificial intelligence solutions can provide better support to patients than human caretakers. For example, exoskeleton robots can help paralyzed people to regain mobility with little or no caretakers’ assistance. Machine learning and IoT devices can help patients perform their daily activities without anyone’s support.
AI in Healthcare Roadblocks
Despite AI offering numerous benefits to medical staff and patients, still AI in healthcare isn’t growing the way it should be. It is because some AI healthcare challenges are blocking the way, such as:
Sourcing accurate healthcare data
Artificial intelligence is nothing without data. The efficiency of AI solutions depends on the data that users feed to them. Since patients often change their insurance providers, medical service providers, and other details. Thus, it is a challenge for healthcare professionals to find accurate data to feed AI solutions.
There are strict guidelines and regulations are framed to safeguard patients’ privacy worldwide. Thus, it is a challenge to collect and manipulate patients’ medical records without violating any law. Here AI developers and medical institutions should collaborate together to collect medical records without compromising patients’ privacy.
Doctors and radiologists often question the capabilities of AI machines while treating their patients. Similarly, many patients don’t trust a machine’s diagnosis. This is a social problem, which can be overcome with time and knowledge. Today, AI developers need to inform people about AI benefits in layman terminology for easy understanding.
Medical IoT devices are prone to cyberattacks and malware. If someone hacks an AI machine during a surgical procedure, it can put a patient’s life in danger. Thus, it is a huge challenge for AI developers to build a robust security system to provide imperial quality medical services.
Maintenance and up-gradation
Every machine demands timely maintenance and updates. Since not everyone is familiar with AI algorithms; thus, it requires professionals to maintain the AI solutions in healthcare institutions. Therefore, many clinics avoid AI because they don’t have an adequate budget to hire maintenance staff.
AI Uses in Healthcare with Examples
AI image analyses
Doctors and radiologists have to scan multiple scans daily to provide accurate diagnoses such as CT scans, MRI, PET, and mammography.
AI image recognition technology can help doctors study these scans faster and highlight certain abnormalities in the image. This technology can detect early predictors of cancer, reduce labor volume, and so on.
CureMetrix is a San-Diego based company that helps radiologists to detect cancer in mammograms using computer vision technology, machine learning, and NLU.
Hospital resource optimization
Another field where the AI role in healthcare institutions is evolving – resource management. In hospitals and clinics, vast amounts of data are available that can help to provide better treatment to the patients.
AI assistants are helping administrative staff to optimize all the scattered data to improve healthcare service quality.
For example, a project from Memorial Sloan-Kettering has analyzed a large collection of pathology slides to develop an algorithm that can detect areas of interest in tissue samples. The algorithm can quickly group the tissues that allow pathologists to find problematic areas.
AI suggested drugs
Yes, AI can help doctors find the right medication for a person based on genetic data. Every person has different psychological, genetic, and biochemical characteristics. AI here runs algorithms on different genetic databases and suggests a medicine suiting your DNA formation.
CureMatch is an innovative company that can provide insight into cancer disease. Using genomic sequencing technology, physicians can know the exact DNA abnormalities that are driving an individual’s cancer.
CureMatch has created a genomic profile based on millions of DNA patterns that help oncologists to find the root cause of cancer in a person’s body and make quick decisions.
Fight against biological weapons
The COVID-19 pandemic has shown the world how dangerous bacteria and viruses can be. Thus, AI developers are today working on creating antibacterial weapons to improve the resistance against deadly bacteria.
Additionally, the problem of MRSA (Methicillin-resistant Staphylococcus aureus) in hospitals is getting serious day by day. Artificial intelligence algorithms can help to recognize genetic weaknesses in drug-resistant strains of bacteria. This way, medicines for future pandemics can be developed quickly.
A pharmaceutical company Argonne National Laboratory is using AI technology called Extreme Gradient Boosting (XGBoost) to perform different medical treatments on these superbugs.
Cost of Developing AI Healthcare Solutions
Frankly, it is hard to predict an exact AI-based healthcare solution cost. Every project has different technical requirements and features that determine the development cost. Further, there are many other factors that determine AI healthcare application development cost:
- Technical support
- Number of AI developers in a team
- Location of the AI development company
- The complexity of the AI algorithm
- The amount of data AI solution will intake
- Supporting technologies like ML, IoT, etc.
Overall, AI development costs can be easily customized based on your budget. Here’s a rough AI development price:
- The prototype development starts from $2,500
- Developing the Minimum Viable Product starts from $8,000
- Complete AI Healthcare development can start from $20,000
Healthcare Future in AI
There are some challenges that AI in healthcare has to deal with, but we can’t ignore that healthcare’s future is AI. Whether it’s accurate diagnosis or developing drugs to defeat super bacteria, AI has solutions for all healthcare problems.
Many AI healthcare solutions are in progress right now, and many are ready in the pipeline. So, if you have an idea to improve healthcare services with artificial intelligence, don’t wait up and start your project today.
Arthonsys AI developers are all set with the advanced infrastructure to commence your AI project. You simply have to share your requirements with our team, and together we will change the future of AI in the healthcare industry.