There are three key areas of the healthcare sector where generative AI is booming the most — in terms of both venture capital funding and the development of innovative technology — according to Anjalika Komatireddy, an analyst at CB Insights. During a recent webinar, she discussed the generative AI activity occurring in these three areas: care delivery and navigation, digital therapeutics and drug discovery.
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The past year has been filled with rapid advancements in generative AI, which refers to AI that can produce content like text, imagery and audio. While the healthcare sector has a reputation of being notoriously slow to adopt new technologies, the field seems to have turned a new leaf when it comes to this class of AI.
There is a long list of examples that show that the healthcare industry is embracing newly emerging generative AI tools with enthusiasm. Some include Epic integrating GPT-4 into its electronic health record, Google Cloud and Mayo Clinic launching a generative AI-focused partnership, and generative AI startup Hippocratic AI raising $50 million in seed funding from General Catalyst and Andreessen Horowitz.
In the view of CB Insights Analyst Anjalika Komatireddy, there are three key areas of the healthcare sector where generative AI is booming the most — in terms of both venture capital funding and the development of innovative technology. She discussed these three domains on Tuesday during a webinar.
The first area that Komatireddy identified is care delivery and navigation. She said that most of the generative AI tools cropping up in this field can be thought of as “AI co-pilots for doctors,” meaning they help automate EHR workflows for physicians.
Some companies are seeking to alleviate clinical burden through medical conversation summary — Komatireddy pointed to Nuance, Abridge and Corti. Others focus on medical coding, such as Suki, DeepScribe and Regard, and some specialize in medical Q&A, like Atropos Health and Google’s Med-PaLM, she explained.[…]
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