AI Tools Offer Health Sector Trillion-Dollar Opportunity and Life-Saving Potential If Handled Responsibly
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AI tools like large language models are being applied in healthcare to improve efficiency and cut costs, attracted by the sector's size and inefficiency. Companies see a trillion dollar opportunity.
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AI can provide time-saving tools for doctors, like voice transcription that allows more patient face time. It also enables hospital command centers to anticipate and solve problems.
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Keeping patients out of hospitals via "virtual wards" monitored by AI is another goal, though current options are more expensive. Better integration of patient data could improve remote care.
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Countries building new health systems with good connectivity but less established infrastructure may adopt AI most readily, like India, Kenya and Indonesia.
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Realizing AI's potential will require regulatory oversight to ensure safety, while allowing for constant updating as the tech changes. Economic incentives also need alignment with technology that can save costs and lives.