Use of artificial intelligence (AI) is accelerating and the impact of its widespread adoption are a trending topic in most markets. In the healthcare market, AI is expected to experience significant growth, with the 2023 Global Artificial Intelligence in Healthcare Market Research Report indicating that AI spend is estimated to reach $102.7 billion by 2028, with a compound annual growth rate of 47.6% during the forecast period.
The potential benefits of AI in healthcare are significant, offering several applications that could benefit patients, professionals, and the industry at large. From improving diagnosis accuracy to reducing medical errors and enhancing patient outcomes, the use cases are endless. Despite these advances, healthcare professionals have raised concerns about the future use of AI in the industry, particularly the possibility of generative AI models becoming the main source of self-diagnosis for patients.
Results from an M3 Pulse survey conducted at the beginning of this year, Top Healthcare Trends in 2023, revealed that HCPs in Europe and the US were optimistic about the potential uses of AI in healthcare, making it one of the top four predicted trends. However, in a more recent survey conducted by M3, 2,410 HCPs from Europe and the US shared their concerns surrounding patient use of AI in the next few years.
Concerns and Potential Challenges of AI in Healthcare
A staggering 72% of the 2,410 HCPs expressed concerns about the possibility of generative AI models becoming the primary source of self-diagnosis for patients in the near future. Of the respondents, 22% were very concerned, 25% were concerned, and 25% were moderately concerned. Only 11% of respondents were not concerned at all, and 16% were slightly concerned. These results highlight the importance of addressing healthcare professionals' concerns about the future use of AI in healthcare.
One significant challenge of using AI in healthcare is the lack of standardisation and regulation, as there are many different AI applications and algorithms in development, and it is crucial to ensure they meet regulatory requirements and are safe for patients. Standardisation is also necessary for a seamless integration into existing healthcare systems. Another challenge is the risk of bias in data used to train AI algorithms, which could result in inaccurate or discriminatory responses. Additionally, patient privacy and data security are concerns, as AI tools collect and process patient data. Healthcare providers need to have adequate measures in place to protect patient data and comply with data protection regulations.
Potential Benefits of AI in Healthcare
Despite the concern, there are potential benefits of AI in the healthcare industry. AI tools can help improve the accuracy and speed of diagnosis, reduce medical errors, enhance patient outcomes, and help providers manage the growing volume of patient data to improve care coordination. Additionally, AI algorithms can analyse patient data and provide clinicians with greater insights into their unique characteristics, leading to more personalised treatment plans.
AI has the potential to improve the accuracy and speed of diagnosis by analysing patient data, such as medical history, genetics, and lifestyle, which can lead to a personalised treatment plan and better patient outcomes. AI tools can also reduce medical errors with real-time monitoring of patient vital signs and identifying possible complications before they occur, allowing healthcare providers to take preventative measures.
Automating routine tasks and streamlining workflows with AI can result in cost savings for the healthcare industry and alleviate some of the stress that clinicians face by giving them more time to focus on patient care and other urgent tasks.
The Future of AI in Healthcare
The potential benefits of AI in healthcare are significant, offering applications that could improve patient outcomes and reduce medical errors. However, raised concerns about the possibility of AI models becoming the primary source of self-diagnosis for patients are notable. Standardisation, regulation, and bias in data used to train AI algorithms pose challenges for the industry.
With further research and development, it is likely we can expect to see more AI tools being used in the healthcare landscape. Addressing HCPs’ concerns while continuing to explore the potential benefits of AI is important. Additionally, HCPs should stay informed about the latest advances in AI and how they can be used to improve patient care. By addressing concerns and challenges while simultaneously maximising the potential benefits, AI can significantly impact healthcare for the better.
Interested in learning more about our panel and services?
