AI healthcare IT market expected to cross $1.7B in 2019

The market for AI healthcare IT applications is expected to cross $1.7 billion by the end of next year, according to Forbes.

In a recent report, Forbes unveiled its top healthcare predictions for 2019, and the use of AI in clinical and non-clinical spaces is expected to provide a big boost in the industry, leading to the market growth. Productivity is also expected to rise 10 percent to 15 percent thanks to AI platforms being used with select healthcare workflows.  

“Throughout 2019, AI and machine learning will further evolve human and machine interaction. More specifically, AI will begin to see fruition, particularly in the imaging diagnostic, drug discovery and risk analytics applications,” the report stated.

Other healthcare predictions for 2019 include:

  • 15 percent of global healthcare spending will be tied to value-based models
  • Digital health tech catering to out of hospital will grow by 30 percent and cross $25 billion
  • Asia becomes the new local innovation hub for global drug and device original equipment manufacturers
  • Analytics shifts from big data to meaningful small data by hospital specialty
  • Healthcare will be a dominate vertical in voice applications
  • Blockchain moves from hype to real initial commercial implementations generating returns on investment
  • Innovative private insurance models shake up healthcare payer industry

To read the full report, click the link below.