Business Intelligence

Thanks to an increasing demand of AI technology for research and drug development, the AI in healthcare market size is expected to exceed $13 billion by 2025, according to a report by Global Market Insights.

AI applications in healthcare are only just ramping up, allowing for an influx of entrepreneurs, according to a new report from Entrepreneur.

Johnson & Johnson announced its intent to acquire California-based Auris Health, a developer of robotic technologies, for $3.4 billion. The purchase will allow Johnson & Johnson to have access to Auris Health’s surgical robotic scope, which is used in respiratory procedures and lung cancer detection. 

California-based Pr3vent Inc., an AI healthcare company, closed its Series A financing, spearheaded by venture capital firm InFocus Capital Partners. 

Though healthcare organizations have started to realize AI’s potential, a health coalition led by providers, payers and vendors has made 11 policy recommendations for the technology's role in the space.

More than a dozen healthcare AI companies—including Owkin and Arterys—have been named as top startups in CB Insight’s third annual AI 100 list.

The rise of AI and machine learning in the healthcare market hasn’t gone unnoticed by KenSci, a Seattle-based company that offers an AI and machine learning platform for healthcare groups. The company has now raised an additional $22 million in hopes of growing along with the market.

Utah-based healthcare big data company Health Catalyst announced it has closed $100 million in Series F equity and debt funding. Financing will support the expansion of Health Catalyst’s technology and services offering for healthcare information. 

Medicus AI GmbH, a Dubai-based technology company that uses AI to make health data more understandable, has raised about $3.1 million in a Series A funding round, according to information available on Crunchbase.

As healthcare continues to shift toward automation and AI, a new report from the Brookings Metropolitan Policy Program suggests a need for changes in both education and workplace culture for individuals to cope with the transition. 

The United Nations (UN) is predicting several industries will see a wave of AI-based products and apps in the near future, after its latest report revealed more than 340,000 AI-related patent applications have been filed since the technology emerged in the 1950s.

M*Modal announced its conversational AI platform earned distinction for “delivering the broadest clinical, financial and operational impact on healthcare organizations” as part of the Best in KLAS: Software and Services report.