Artificial Intelligence (AI), though presently latent, is signaling to disrupt the job market across industries. The inroad it is making heralds to eat into careers as varied as advertising, accountancy, news reporting, and more. Its mainstreaming may lead to major loss of jobs in an economy. However, some industries are contending to receive assistance from AI for a wholly positive impact. Healthcare is one poised to leap exponentially with the help of artificial intelligence.
China may be the world’s second-leading economy, but it is grappling with serious shortage of medical personnel. According to data provided by Organization for Economic Cooperation and Development, there is 1.8 physicians to serve every 1,000 individuals in the country. With this numbers, China stands behind the U.S. at 2.6 well below the 3.4 average laid down by the OECD.
AI-assisted Healthcare in China estimated close to a Billion Dollar by 2022
The gap means a nation of overloaded doctors who persistently struggle to finish examination of patient scans. In addition, such overloads come with inevitable misdiagnoses. Hence, to better serve patients, healthcare professionals and forward-thinking engineers are vying to incorporate revolutionary technologies to analyze medical images. In this context, AI-aided healthcare in China was valued at US$27 million in 2017, and is likely to be worth US$870 million by 2022, as estimated by a leading market research firm.
Among a slew of companies serving technology-driven healthcare, 12 Sigma is an up-and-comer in the arena. The innovation of a San Diego-based startup founded by two ex Qualcomm engineers has research teams located in China.