AI’s impact on healthcare, other industries continues to grow

The use of AI continues to rise throughout the United States, according to a new industry report published by RELX. The report included feedback from more than 1,000 senior-level executives representing seven industries: healthcare, science/medical, government, insurance, legal, banking and agriculture.

Responses included in the second annual “RELX Emerging Tech Executive Report” show just how quickly these technologies are gaining popularity. While 48% of respondents said their businesses were using AI in 2018, for instance, that number jumped to 72% in 2019. And 69% of respondents said they believe AI has a “very or somewhat positive impact” on their industry in 2018—that number is all the way at 93% in 2019.

Other key findings include:

  • 93% of respondents say AI—including machine learning, deep learning and other related technologies—help their business remain competitive
  • 54% of respondents say AI optimizes their systems and reduces cost
  • 64% of respondents say more of their business is “touched” by AI now than one year ago
  • 53% of respondents believe the government should increase its funding and development when it comes to AI

“The survey results highlight the need for American businesses to be agile and flexible in the way they use AI technologies,” Vijay Raghavan, executive director of the chief technology officer forum at RELX, said in a prepared statement. “Emerging technologies have the capabilities to be incredibly powerful tools, enabling businesses to remain competitive and achieve business goals. Companies with AI integration can offer better products and services and those who don’t risk becoming obsolete.”