Will artificial intelligence drive the future of healthcare startups?

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Artificial intelligence is revolutionizing the way the technology industry develops. From smart phones to smart cars and refrigerators, all aspects of human life are facilitated by “smart” devices.

One of the most important areas of artificial intelligence research is in healthcare and wellness. The science is improving rapidly, and the reason can be attributed to the fact that with growing collections of data and improved algorithms, health researchers are able to provide ever better insights into how the human body works. .

Investments for artificial intelligence in the healthcare sector are expected to grow from $6.9 billion in 2021 to $67.4 billion by 2027, at a compound annual growth rate of 46.2% , which demonstrates the industry’s confidence in the adoption potential of the use of artificial intelligence.

How to start using artificial intelligence in the wellness industry?

Artificial intelligence relies on using past data to make new recommendations, constantly taking recent data into account to improve future results. An algorithm is only as good as the data given to it.

Key steps in using AI in wellness include:

  1. Gather information from reliable sources. The more data, the better the results. Data should be collected across a range of age groups, ethnicities and geographic areas to ensure results are not biased.

  2. Ensure that the data is free from major outliers that could affect the accuracy of the results. Data preparation is an important step, during which all data considered invalid is removed.

  3. Finally, once sufficient data has been collected and cleaned, the result can be tailored to the needs of the user and their current fitness level.

How wellness startups are using artificial intelligence today:

Startups that innovate quickly are early adopters of enhanced artificial intelligence solutions.

There are a multitude of ways that artificial intelligence is driving the growth of wellness startups:

  1. Detection and diagnosis of well-recorded conditions

Body scans such as EEG () and X-ray scans can be analyzed by artificial intelligence algorithms to detect the potential for diseases, at an earlier stage than they might otherwise be detected.

  1. Analysis of health trends

Based on a population’s diets, temperature and history, companies can detect the susceptibility of an area’s population to potential diseases

  1. Diet plans organized according to user preferences

At a more micro level, artificial intelligence can be used to learn consumer preferences to help design optimized meal and workout plans for users who need to achieve a specific fitness goal, for example, users who require a low-sugar diet may be offered meal recommendations, and users with a history of heart conditions may not be offered cardio-heavy workouts

  1. Workout tracking

By using cameras to track movement, workout apps can make smart recommendations about a user’s workout routine, correcting their posture if needed.

  1. Chatbots and automation

By using AI to conduct chatbots and automate multiple manual tasks, startups can leverage the increased efficiency of AI to reduce their average execution time and help more users in a defined period of time.

Key points to consider when adopting AI for wellbeing:

As the field of well-being is critical, there are a number of points to consider when integrating Artificial Intelligence into a technical solution for health:

  1. Accuracy of diagnoses and recommended treatments

For healthcare, algorithms need to deliver accurate results. This means a huge amount of data needs to be analyzed, cleaned, and used to train the machine learning models. Data should be sampled across a range of gender, age, fitness levels, socio-economic and geographic areas to ensure that the results generated are not biased or skewed towards any specific demographic group .

  1. Confidentiality and security of user data

Care should be taken to ensure that data is anonymized and masked before analysis. Data should also be encrypted before being stored to ensure that it cannot be used for malicious purposes.

  1. Adaptability of results to patient needs

The recent pandemic has taught us that trends can change overnight. AI algorithms must be able to take recent data into account and measure its importance appropriately.

  1. Ease of interpretation for consultants

It should be easy for those using the results to understand the various factors that went into generating the results. This ensures that they can understand the importance of any factor that may not be possible to enter into the algorithm.

Benefits of using AI in healthcare

There are several reasons why wellness companies choose to embrace artificial intelligence in their startups:

  1. Improved diagnostics:

The large data pool ensures that the results take all factors into account. The risk of misdiagnosis by mistake is significantly reduced.

  1. Real-time adaptation: AI algorithms adapt in real time to changing trends in human health conditions

  2. Simplified tasks: Artificial intelligence can help keep startups’ operational costs low by saving time and resources

  3. Improved research: Wellness research has made significant progress since the adoption of artificial intelligence

Each of these factors add up to make an investment in AI a great decision for wellness startups.

Conclusion

Many people with vested interests in well-being may wonder if it’s worth spending the time and investment to adapt to artificial intelligence in their startups. The answer is that it is definitely worth the investment! Early adoption can help a business stay ahead of its competitors.

(Sahil Bansal, Co-Founder and CEO, Fitelo-Chandigarh-based startup offering personalized nutrition and lifestyle management plans with his AI-enabled app. Views are personal.)

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Published on: Saturday 09 April 2022, 22:28 IST


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