Artificial intelligence can be defined as the use of technology to perform tasks using different algorithms, decision-making capabilities and deliver solutions. Artificial intelligence in healthcare and medicine would induce the tremendous change in the current healthcare system. Artificial intelligence in healthcare would organize the patient data, treatment plans and would strengthen providers and payers by providing them the necessary information.
Artificial intelligence in the healthcare market is primarily driven by a few key factors such as evidence-based healthcare decisions and clinical outcomes by introducing artificial intelligence in healthcare, analytics based on the vast amount of healthcare data, and improved healthcare setting. In addition to this artificial intelligence in healthcare market also observes significant growth due to its functionality in revenue cycle management for the healthcare environment. Artificial intelligence in healthcare market gains a great drive from applications such as claims management for insurance companies by detecting the number of fraudulent claims. Artificial intelligence in healthcare market will also strengthen the healthcare market by significant cost reductions.
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In the past decade, the artificial intelligence in the healthcare market has witnessed a massive influx of players. Some of the major players operating in the artificial intelligence in healthcare market are IBM Corporation, Oracle Corporation, Microsoft Corporation, iCarbonX, Welltok, Butterfly Network, Apixio, Pathway Genomics, and many others. Artificial Intelligence in Healthcare Market has a presence of many regional players which have a huge market share in emerging countries.