Metaverse
The AI doctor will see you…eventually – Crypto News
There is already evidence that AI systems can enhance diagnostic accuracy and disease tracking, improve the prediction of patients’ outcomes and suggest better treatments. It can also boost efficiency in hospitals and surgeries by taking on tasks such as medical transcription and monitoring patients, and by streamlining administration. It may already be speeding the time it takes for new drugs to reach clinical trials. New tools, including generative AI, could supercharge these abilities. Yet as our Technology Quarterly this week shows, although AI has been used in health care for many years, integration has been slow and the results have often been mediocre.
There are good and bad reasons for this. The good reasons are that health care demands high evidentiary barriers when introducing new tools, to protect patients’ safety. The bad reasons involve data, regulation and incentives. Overcoming them could hold lessons for AI in other fields.
AI systems learn by processing huge volumes of data, something health-care providers have in abundance. But health data is highly fragmented; strict rules control its use. Governments recognise that patients want their medical privacy protected. But patients also want better and more personalised care. Each year roughly 800,000 Americans suffer from poor medical decision-making.
Improving accuracy and reducing bias in AI tools requires them to be trained on large data sets that reflect patients’ full diversity. Finding secure ways to allow health data to move more freely would help. But it could benefit patients, too: they should be given the right to access their own records in a portable, digital format. Consumer-health firms are already making use of data from wearables, with varying success. Portable patients’ records would let people make fuller use of their data and take more responsibility for their health.
Another problem is managing and regulating these innovations. In many countries the governance of AI in health, as in other areas, is struggling to keep up with the rapid pace of innovation. Regulatory authorities may be slow to approve new AI tools or may lack capacity and expertise. Governments need to equip regulators to assess new AI tools. They also need to fill regulatory gaps in the surveillance of adverse events, and in the continuous monitoring of algorithms to ensure they remain accurate, safe, effective and transparent.
That will be hard. One solution would be for countries to work together, to learn from each other and create minimum global standards. A less complex international regulatory system would also help create a market in which small companies can innovate. Poorer countries, with less developed health infrastructure, have much to gain from introducing new tools, such as an AI-powered portable ultrasound device for obstetrics. Because the alternative to an AI tool is often no treatment at all, they may even be able to leapfrog the entrenched health systems of rich countries—though a lack of data, connectivity and computing power will get in the way.
A final problem involves institutions and incentives. AI promises to cut medical costs by assisting or replacing workers, improving productivity, reducing errors and flattening or reducing spending, all while improving care. That is desperately needed. The world could lack 10m health-care workers by 2030, around 15% of today’s workforce. And administration accounted for about 30% of America’s excess health-care costs, compared with other countries, in 2022.
Yet saving money using innovation is tricky. Health systems are set up to use it to improve care, not cut costs. New technology may account for as much as half of the annual growth in health spending. Layering on new systems will increase costs and complexity. But redesigning processes to make efficient use of AI is likely to be resisted by patients and medics. Though AI may be able to triage them over the phone or provide routine results, patients may demand to be seen in person.
Worse, many health systems, such as America’s, are set up to reward the volume of work. They have little reason to adopt technologies that cut the number of visits, tests or procedures. And even publicly run health-care systems may lack incentives to adopt technologies that reduce costs rather than improve outcomes, perhaps because saving money may lead to a smaller budget next year. Unless governments can change these incentives, so that AI combines better treatment with new efficiencies, innovation will increase costs. Accordingly, governments and health authorities will need to fund schemes dedicated to testing and deploying new AI technologies. Countries including America, Britain and Canada are pointing the way.
AI, MD
Much of the burden for boosting AI in health care falls on governments and regulators. However, companies have a part to play, too. Insurers have already used AI tools to deny care unfairly; firms have mis-sold or overstated the abilities of health AI; algorithms have made mistakes. Firms have a duty to ensure that their products are safe, reliable and accountable, and that humans, however flawed, remain in control.
These obstacles are formidable but the potential benefits of using AI in health care are so vast that the case for overcoming them should be obvious. And if AI can be made to work in medicine, it could provide a prescription for the adoption of the technology in other fields.
Milestone Alert!
Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.
You are on Mint! India’s #1 news destination (Source: Press Gazette). To learn more about our business coverage and market insights Click Here!
Download The Mint News App to get Daily Market Updates.
Published: 30 May 2024, 06:00 PM IST
-
Metaverse1 week agoTech layoffs: From Meta, Amazon to Google — these IT majors have cut AI related jobs – Crypto News
-
Cryptocurrency1 week ago
Robinhood Lists HYPE As Hyperliquid Flips Aster, Lighter In Perp DEX Volume – Crypto News
-
Cryptocurrency1 week ago
XRP News: Ripple Unveils ‘Ripple Prime’ After Closing $1.25B Hidden Road Deal – Crypto News
-
Cryptocurrency1 week agoTrump plans to pick Michael Selig to lead CFTC: Report – Crypto News
-
De-fi1 week agoAster Rallies on ‘Rocket Launch’ Incentives Campaign – Crypto News
-
Blockchain1 week agoAfrica Countries Pass Crypto Laws to Attract Industry – Crypto News
-
Blockchain7 days agoBinance Stablecoin Outflow On A Steady Rise — What This Means For The Market – Crypto News
-
others6 days ago
JPY soft and underperforming G10 in quiet trade – Scotiabank – Crypto News
-
De-fi6 days agoNearly Half of US Retail Crypto Holders Haven’t Earned Yield: MoreMarkets – Crypto News
-
Technology1 week agoSundar Pichai hails ‘verifiable’ quantum computing breakthrough as Google’s Willow surpasses ability of supercomputers – Crypto News
-
Metaverse1 week agoBezos fund believes AI can save the planet. Nvidia, Google are all-in. – Crypto News
-
Technology1 week ago‘It just freezes’: Spotify users fume over app crashes on Android devices, company responds – Crypto News
-
Cryptocurrency1 week agoCrypto update: Bitcoin and Ethereum are stable as market’s focus shifts to US inflation data – Crypto News
-
Cryptocurrency1 week agoDOGE to $0.33 in Sight? Dogecoin Must Defend This Key Level First – Crypto News
-
Technology1 week agoFrom Studio smoke to golden hour: How to create stunning AI portraits with Google Gemini – 16 viral prompts – Crypto News
-
Business1 week ago
White House Crypto Czar Backs Michael Selig as ‘Excellent Choice’ To Lead CFTC – Crypto News
-
Blockchain1 week agoISM Data Hints Bitcoin Cycle Could Last Longer Than Usual – Crypto News
-
Technology7 days agoNothing OS 4.0 Beta introduces pre-installed apps to Phone (3a) series: Co-founder Akis Evangelidis explains the update – Crypto News
-
De-fi7 days agoHYPE Jumps 10% as Robinhood Announces Spot Listing – Crypto News
-
Blockchain6 days agoEthereum Rebounds From Bull Market Support: Can It Conquer The ‘Golden Pocket’ Next? – Crypto News
-
others6 days ago
Platinum price recovers from setback – Commerzbank – Crypto News
-
Cryptocurrency6 days agoWestern Union eyes stablecoin rails in pursuit of a ‘super app’ vision – Crypto News
-
Blockchain6 days agoXRP Price Gains Traction — Buyers Pile In Ahead Of Key Technical Breakout – Crypto News
-
Technology3 days agoSam Altman says OpenAI is developing a ‘legitimate AI researcher’ by 2028 that can discover new science on its own – Crypto News
-
Technology1 week agoYouTube brings a new feature to stop you from endlessly scrolling Shorts: here’s how it works – Crypto News
-
Business1 week ago
Peter Schiff Challenges Binance Founder CZ to Debate as Bitcoin Vs. Gold Rivalry Heats Up – Crypto News
-
Business1 week ago
Breaking: Trump To Meet China’s President On October 30, Bitcoin Bounces – Crypto News
-
De-fi1 week agoSolana DEX Meteora Launches Native MET Token – Crypto News
-
Technology1 week agoGoogle and Apple face extra UK scrutiny over strategic role in mobile platforms – Crypto News
-
Cryptocurrency1 week agoWhat next for Avantis price after the 73% recovery? – Crypto News
-
Technology1 week agoUniswap Foundation (UNI) awards Brevis $9M grant to accelerate V4 adoption – Crypto News
-
Cryptocurrency6 days agoUSDJPY Forecast: The Dollar’s Winning Streak Why New Highs Could Be At Hand – Crypto News
-
Cryptocurrency1 week ago155 Filings Across 35 Assets, Analyst Backs Index Funds – Crypto News
-
others1 week ago
JPY weak and underperforming – Scotiabank – Crypto News
-
Cryptocurrency1 week agoLedger Nano Gen5 feels like Flex for less – Crypto News
-
Blockchain7 days agoEntire Startup Lifecycle to Move Onchain – Crypto News
-
Cryptocurrency6 days agoNEAR’s inflation reduction vote fails pass threshold, but it may still be implemented – Crypto News
-
Blockchain6 days agoXRP/BTC Retests 6-Year Breakout Trendline, Analyst Calls For Decoupling – Crypto News
-
Technology6 days agoSurvival instinct? New study says some leading AI models won’t let themselves be shut down – Crypto News
-
Technology1 week agoSolana’s RWA market surpasses $700M all-time high as adoption accelerates – Crypto News
-
Cryptocurrency1 week agoJito’s JTO token rises on a16z’s $50 million investment in Solana staking protocol – Crypto News
-
Technology1 week ago
Dogecoin Price Crash Looms as Flag, Death Cross, Falling DOGE ETF Inflows Coincide – Crypto News
-
Blockchain1 week agoBitcoin Whale From 2009 Moves Coins After 14 Years Asleep – Crypto News
-
Cryptocurrency1 week agoFetch.ai and Ocean Protocol move toward resolving $120M FET dispute – Crypto News
-
Technology1 week agoOpenAI announces major Sora update: Editing, trending cameos, and Android launch on the way – Crypto News
-
Business1 week ago
HBAR Price Targets 50% Jump as Hedera Unleashes Massive Staking Move – Crypto News
-
Metaverse1 week agoGemini in Gmail automates meeting schedules effortlessly – Crypto News
-
Business1 week ago
PEPE Coin Price Prediction as Weekly Outflows Hit $17M – Is Rebound Ahead? – Crypto News
-
Cryptocurrency1 week agoHYPE Breaks Out After Robinhood Listing and S-1 Filing: What’s Next? – Crypto News
-
Technology1 week ago
Analyst Eyes Key Support Retest Before a Rebound for Ethereum Price Amid $93M ETF Outflows and BlackRock Dump – Crypto News
