Artificial intelligence (AI) is constantly changing and has recently been making many big innovations in the medical world. The possibilities that artificial intelligence holds for many different diseases and conditions, including Alzheimer’s disease and drug discovery techniques, seem to be endless.
In May, CB Insights published a market-map showing AI start-ups have been busy raising close to $900 million dollars over the last five years. This capitol pushes their possibilities of new intelligence discoveries even further.
Healthcare has always been an evolving field, but with new technology changing the face of medicine, how will medical sales be affected? Here’s a look at few ways you can expect to see medical sales impacted by these breakthroughs: Early detection
Most of us know someone whose life has been touched by Alzheimer’s disease or dementia. These two horrible diseases incapacitate the minds of a once healthy individual, but could early detection lesson the degree of these symptoms? Researchers have been hard at work looking to find a better and faster way to detect Alzheimer’s and differentiate Alzheimer’s from dementia during the diagnosis process.
By applying AI algorithms to MRI brain scans, researchers have developed a way to automatically distinguish between patients with Alzheimer’s and two early forms of dementia that can be precursors to the memory-robbing disease. In a study done this year, researchers from VU University Medical Center in Amsterdam, suggest these scans could allow screening and assisted diagnosis of various forms of dementia in centers without experienced neuroradiologists.
Early detection for Alzheimer’s is a breakthrough in both the medical and artificial intelligence fields. If AI is able to bring a trusted and proven diagnostic tool into this field of study, and many others, hospitals everywhere will be waiting in line to acquire the technology.
Endless AI possibilities
In January, a consulting firm, Frost and Sullivan, found the need for data mining and decision-making is putting artificial intelligence-enabled solutions up front and center of the healthcare revolution. AI facilitates accessibility, relevance, and actionability of healthcare information. Many AI startups are bringing all three of these aspects to the forefront of healthcare.
Patient-monitoring startup, Sense.ly, developed a virtual nursing assistant, Molly, to follow up with patients post-discharge. Sense.ly saw a need for an easily accessible assistant to help decrease the amount of time spent post discharge. Molly has the opportunity to save clinicians up to 20 percent of their day. With access to a virtual assistant giving clinicians back this amount of time, there is room for more patients on their calendars.
Drug discovery is also making big moves in the AI world. Startups like Atomwise, Numerate, and twoXAR are using machine learning to reduce the amount of time and capital involved in uncovering new therapies. These three drug companies could be leading the way to lowered drug costs.
Future outlook for medical sales
This new face of healthcare could mean medical sales representatives will have a future full of possibilities and AI equipment choices from more startups in healthcare. Analysts at Frost and Sullivan believe that by 2025, AI systems could be involved in numerous forms of the medical process. Medical representatives could be seeing anything from digital avatars capable of answering specific questions to population health management.
Frost & Sullivan predicted that artificial intelligence in healthcare will see a drastic expansion in the market. The next couple of years will bring the potential to reduce the cost of medical treatments by half across the board. Market expansion combined with the ability to reduce patient costs will have the medical world buzzing and ready to buy.
Having AI available in so many different aspects of the medical field further ensures the multitude of sale possibilities for medical sales representatives.
How do you think artificial intelligence will change the face of medical sales? Comment below!