Artificial intelligence (AI) is a technology that enables machine mimics like a human mind which involved in learning and problem-solving. AI is utilized by various business and personal consumption which includes medical diagnosis, electronic trading, remote sensing, finance, transportation, and education. There is other ‘n’ number of avenues that can have AI into it. The possibilities are many which include virtual gaming and virtual shopping as well. AI provides a platform for the healthcare sector which includes medical diagnosis, electronic data management, remote sensing, and remote control and so on. AI-based applications and technologies are adopted at a rapid pace for improvising and detecting diseases in patients. It enables in diagnosis, treatment, drug development, monitoring patient’s health and contribute to personalized medicines. The deep learning technology enables research and investigation of various diseases. The deep learning technology enables in providing images that includes CT scan, MRI, x-ray and pathological test. Deep learning is contributing to IoT analytics. The algorithms enable in reducing risk regarding healthcare devices, it captures, process and monitors sensory data. The deep neural data have capabilities to adopt any kind of data which includes text, time series, video, and images. However, it has capabilities to solve various machine perception problems which include the classification of data and detection of dreadful diseases. The chest X-ray is used to diagnose various diseases such as pneumonia and lung nodules are diagnosed through deep learning.
The market for AI in healthcare is impressively growing due to the rise in AI-based technology advancement. Due to the rise in the prevalence of chronic diseases such as cancer, cardiovascular diseases, and respiratory disease, AI-enabled software is used by healthcare facilities which significantly drives the market growth. For instance, cardiovascular diseases are estimated to be one of the major causes of mortality globally. According to WHO, CVD accounts for more than 17.3 million mortalities per year. And the number of mortalities by cardiovascular diseases is further estimated to reach 23.6 million by 2030. Cardiovascular diseases account for 31%, with around 80% of mortalities occurring in low and middle-income countries. Further, reduction in time and cost associated with research and increasing technological advancement such as early decision making is also considered as the driving factor in the global AI in the healthcare market.
AI in the deep space: a relic
Artificial Intelligence is also going to provide us a breakthrough in deep space through quantum mechanics and quantum computing. There are many unsolvable mathematical equations that can’t be solved by today’s massive supercomputers, but they are there. Through quantum computing our deep space exploration and can further get a bolster. Humans may have certain limits and may take time in evolution, but AI through machine learning and the internet of things can do the undoable and unimaginable. Brace yourselves when it comes to cosmic explorations.
Security concerns are a major obstacle in the growth of this market across the globe. Security and privacy concern regarding loss of services and leakage of information is a major issue in AI technology. A number of cases of data breaches are recorded in recent years. For instance, in 2018, Independence Blue Cross, a Philadelphia-based company notified 16,762 patients about online exposure of their data for a number of months. The lack of relevant data is a major drawback in AI in healthcare as large datasets are required for significant management. However, an increase in venture capital investments, increasing government funding and R&D spending by firms in healthcare are creating enormous opportunities for the market across the globe. For instance, in 2018, Viz.ai, artificial intelligence health care start-up, has raised $21 million funding led by Kleiner Perkins and GV (an Alphabet’s venture capital arm). Significant opportunities in emerging markets which include India, China, and Brazil and a substantial increase in venture capital investment is expected to drive the market in the near future.
