Potential Benefits of Machine Learning in Healthcare

Potential Benefits of Machine Learning in Healthcare

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FoxERP
Nov 2022

Machine learning has been benefitting various organizations across sectors in one way or the other in innumerable ways.

It has started impacting several end-use industries, which has made the companies reap its benefits and marked a trend toward a future that looks brighter and bigger.

Since the emergence of the COVID-19 pandemic, organizations, and the entire humankind, has suffered significant blows, both in revenue generation and estimated overall productivity.

Machine Learning refers to a subset of Artificial intelligence, that utilizes the information and self-learning from data based on collective knowledge to make actionable insights without the intervention of human beings.

Furthermore, it takes into use the potential transformation that machine learning tools bring, revolutionizing how organizations work.

Recent research suggests that the global market value of machine learning will reach USD 210 Billion in 2029.

Factors such as a rise in internet penetration, an increase in the use of AI, and shifting trends of automating business activities are augmenting the rising need for Machine learning.

The below-mentioned benefits take us into a deeper mode of knowing what goes behind the scenes regarding the potential advantages of ML in Healthcare.

1.Treatment Improvements

Machine Learning, as a subset of AI, has attained unmatched breakthroughs in the healthcare sector.
For instance, Tempus Labs, a US-based healthcare company, working rigorously on providing AI-based healthcare solutions in medicines and tests has provided, recently, the breakthroughs in cancer research with clinical data and delivering personalized treatments for patients using AI-powered algorithms with genomic profiling, clinical trial matching, diagnostic biomarking, and academic research, among others.

2.Enabling Seamless Testings

Another healthcare organization that’s making significant impacts on healthcare and laboratories is Path AI.
Its technology employs machine learning to help pathologists make quicker, more accurate, precise, and more accurate diagnoses by compiling patient information, processing samples and streamlining clinical trials and drug development.

3.Beta Bionics

Another significant development in healthcare was depicted in diabetes care, where the lives of diabetes patients get more stress-free.
An organization called Beta Bionics, is developing a wearable “bionic” pancreas called iLet,
which is still in the investigational stage can constantly monitor blood sugar levels in patients with Type 1 diabetes, enabling patients not to track their blood glucose levels every day.
These developments and progress in the healthcare sector by AI showcase a plethora of benefits AI carries that revolutionize the present status of healthcare and simultaneously hold massive unexplored potential in the days to come.

Conclusion

Organizations have achieved and are achieving a cult status by leveraging the benefits AI and Machine Learning add to their businesses.
Organizations are magnifying the benefits that AI and Machine Learning from their products to their services, enabling significant breakthroughs that will transform and revolutionize the healthcare sector in unimaginable ways.

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