Transforming Healthcare with AI

Healthcare is one of the largest and most important industries globally. The recent COVID‐19 crisis has made this the most important industry today and it will continue to occupy the center stage for many years to come. This chapter explores how AI and digital technologies will transform the healthcare industry. There are several major issues that the healthcare of the future needs to address. From an analytics standpoint, the chapter discusses key problem areas where we need advanced techniques like AI to play a huge role. It digs deeper into two major areas of transformation: personal health cloud and smart hospitals. The chapter examines some AI applications that provide more anticipatory capabilities to medical professionals and systems, including telediagnostics, robotic surgeries, drug discovery, and cybersecurity. Business models in the healthcare industry have been changing over the last several years. The biggest area of change will be around the pricing and costing of healthcare services.