Shaping the Future of Digital Healthcare with AI
“The best way to predict the future is to invent it.” — Alan Kay
In a wondrous world where technological advancement is governing every domain and aspect of life, including healthcare, the enchanting realm of digital healthcare products has been growing exponentially. This growth is being driven by a number of factors, including the increasing adoption of telehealth, the growing use of wearable devices, and the increasing demand for personalized healthcare.
As dawn breaks on the horizon of innovation, Artificial Intelligence (AI) emerges as a celestial force, weaving its magic into the very fabric of the digital healthcare landscape to redefine the essence of care. Product Managers and Business Analysts (BAs) not only play a critical role in driving such innovation and success through these emerging technologies but also have the opportunity to make more informed, data-driven decisions in creating and enhancing products sustainably.
In this article, we will embark on an odyssey through this captivating realm and explore the possibilities of futuristic growth in Digital Healthcare products with the advent of AI.
The AI revolution
As you can see, there has been a significant increase in the number of AI applications and implementations in the digital healthcare industry over the last 5 years. This increase is being driven by a number of factors, including — increasing availability of data, development of more powerful AI algorithms, decreasing cost of AI, and the growing demand for personalized healthcare.
The increasing use of AI in healthcare is having a positive impact on a number of areas, including — Diagnosis, Treatment, Patient monitoring, and Drug discovery.
“The global market for AI in healthcare is expected to reach $208.2 billion by 2030” - Grand View Research
The use of AI in healthcare is still in its early stages, but it is growing rapidly. As AI technology continues to develop, we can expect to see even more innovative and beneficial applications for AI in healthcare.
Leveraging AI in Digital Health Applications
Product Analysts can collaborate with cross-functional teams, including healthcare professionals, data scientists, engineers, and designers, to understand the specific needs and challenges faced in the digital healthcare domain.
For example, another digital product area that has become a staple for clinicians and doctors around the world in terms of increasing demand and usability is Practice Management. With the AI leverage, it can not only infuse more efficiency in daily practice operations but, more importantly, it will enhance Patient Care.
Thus, with the AI storm, Product Analysts can bring a unique blend of analytical skills and domain knowledge, allowing them to identify opportunities where intelligent algorithms can be deployed to optimize processes, enhance patient outcomes, and improve overall efficiency.
The AI-juiced Personalized Health Assistant (PHA)
In order to describe our AI ideas a little better, we will take a dig into a product thesis — Personalized Health Assistant (PHA). Armed with the remarkable capabilities of artificial intelligence, this visionary digital health product is poised to revolutionize the way we perceive and experience healthcare.
Let’s consider that our goal is to develop a PHA that provides individualized and proactive healthcare support to patients, empowering them to manage their health effectively and augmenting healthcare providers’ capabilities.
The following infographic outlines the intricate Journey of building a futuristic PHA application, where cutting-edge AI technologies converge to provide tailored, proactive, and compassionate care:
Designing a comprehensive AI algorithm to revolutionize digital healthcare requires careful consideration of various factors, including data privacy, ethical considerations, and regulatory compliance.
While a single algorithm cannot encompass all aspects of digital healthcare, there needs to be a holistic approach that combines multiple AI techniques to bring significant advancements to the sector.
By leveraging these AI prospects, Product Analysts can create digital health applications that enhance diagnostics, improve patient outcomes, optimize operations, and accelerate drug discovery.
While challenges like data privacy and explainable AI must be addressed, the overall impact of AI and ML in digital healthcare promises a future where technology plays a transformative role in advancing the well-being of individuals and societies as a whole.
