The biggest challenge with AI practitioners (so far) is to find a considerable volume of relevant data to feed machine learning algorithms. And nobody ever thought that this problem would be resolved in the blink of an eye.
With huge data repositories, the crowned tech giants — Amazon, Google, Microsoft, Apple, IBM, Salesforce, SAP, Oracle, Alibaba and Baidu have become the AI leaders of today. Their next venture into AI as a Service (AIaaS), adequately powered by Data as a Service is, yet again, prone to disrupt Digital.
How will AI as a Service impact businesses?
Organizations may have centuries-old data with them, and they might even invest in digitizing all historic data to generate volume. But, is this data a good fodder for machine learning models? Certainly not. Consumers today are way different from yesterday. What the world needs is real-time data. And who has it? The aforementioned AI leaders, who not only made efforts to collect data but also made arrangements to organize them and use them wherever, whenever.
Today, Google Home has over half a billion users; meaning — there’s no scarcity of data. With this, Google cloud offers a range of AIaaS products like AI Hub — a repository of plug-and-play AI components; AI building blocks — to make developers utilize structured data into their applications; and an AI platform — a development environment to let data scientists and ML developers quickly take projects from ideation to deployment.
The point is, the quest for quality data to train ML models is nearly over. The hunt for Machine Learning experts is seeing an end. Because with Google Cloud AutoML developers with limited ML expertise will be able to train their specific ML models. Similarly, Amazon SageMaker provides Managed Spot Training, which can reduce ML models’ training cost by 90%. This drastic cost reduction will encourage businesses to adopt AI at a larger scale; thus opening new avenues for innovations.
Is AIaaS different from MLaaS (Machine Learning as a Service)?
MLaaS is a set of services that offer ready-made Machine Learning tools. Organizations can utilize this as a part of their working needs. The popular MLaaS services available today are (mostly from Amazon, Google, Microsoft, and IBM)-
1. Natural language processing
2. Speech recognition
3. Computer vision
4. Video and image analysis
While ML corresponds to making machines learn by themselves, AI focuses on both the acquisition and application of information. AI is the process of simulation of natural intelligence to solve complex problems. AIaaS, thus, broadens the scope of MLaaS by enabling machines with cognitive capabilities.
We’re rapidly moving beyond the algorithms that were designed to deliver experiences based on predefined rules. “AI… is a group of algorithms that can modify its algorithms to create new algorithms in response to learned inputs…” (Kaya Ismail, CMSWire)
How will AI as a Service disrupt digital products and experiences?
With the commercialization of AI, most of the digital products will be equipped with AI.
The time-to-market for AI and ML-based products will reduce drastically.
AI-enabled products comply with connected data ecosystems, which enables effective organization and utilization of huge volumes of data.
AIaaS will deliver multi-layer insights to humans at a moment’s notice.
It will smartly integrate different technologies (like AR) on-need basis.
Making sense of regional language data will be no more challenging.
Delivering intuitive experiences will become much simpler. For instance, the Google Translate app automatically takes input from the user’s device language settings and applies augmented reality experience to scanned images.
It will connect the dots — IoT, Driverless cars, drones, hyperloop, and even space technologies.
Getting the edge over operations for the next era of tech
Cloud is changing the AI marketplace and serverless computing is making it possible for developers to quickly get AI applications up and running. Also, the prime enabler of AI as a Service business is information services. The biggest change that serverless computing has brought is — it has eliminated the need to scale physical database hardware. For instance, Amazon Aurora extends the performance and availability of commercial-grade databases at 1/10th of the cost. To mention, Netflix moved its database to AWS to leverage the benefits of serverless computing. Another example of distributed infrastructure for data is that of Microsoft Azure Data Lake. It dynamically allocates or deallocates resources, enabling a pay-per-use model.
While business benefits from AI as a Service are immense, the competition among AI Leaders is not less. Tech giants pour billions of dollars in AI research to shape the business of the future. What we see today is the outcome of decades of hardship and the quest to get the best minds to execute their AI strategy.
We are helping leading Insurers like Aditya Birla Health Insurance, Religare, DHFL Pramerica, and many more in their AI initiatives. Please feel free to talk to us for your AI strategy roadmap and implementation. Drop us a line at firstname.lastname@example.org.
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Virtual health: Delivering care through technology
Virtual Care, Telehealth, Telemedicine, etc. are terms used very synonymously. Indeed they are interrelated, however, Virtual Care is a broader term in which healthcare providers use digital tools to communicate and deliver care to their patients. Telehealth and Telemedicine are a part of Virtual Care where doctors deliver care to their patients, remotely via phone, video, or instant messaging. Virtual health includes care delivery beyond video consultation where hospitals provide services using technology such as wearables for remote monitoring, instruments for post-op care and second opinions, e-pharma services, and medical information, etc.
The outbreak of the COVID-19 pandemic gave an impetus to Virtual Care, but even in the Pre-COVID time, the Healthcare sector was slowly gearing up for this next wave in care delivery. What COVID-19 did was, help patients get acclimatized to the digital health tools and services.
What does Virtual Health help with?
The pandemic has brought the burning issues of the healthcare sector to center stage. Patient experience and access to healthcare services are key differentiators for people while choosing a healthcare provider. Let’s take a look at some of these issues addressed by technology in the healthcare sector-
The increasing number of patients
Apart from the pandemic, there’s already been a rise in the number of patients due to drastic changes in lifestyle and food habits, an increase in pollution levels, increase in new types of viruses, etc. This has caused undue stress on healthcare institutions and workers and has led to the deterioration of the quality of patient care. Virtual Health technology such as mHealth apps, EHR (Electronic Health Record), video conferencing, etc. has helped reduce the pressure on hospitals.
Difficulty in traveling for old patients
The pace of life is increasing at a rapid rate. It is getting insanely difficult for the elder population to navigate through the traffic and commute long distances for a check-up. Many times, they have to depend on their family members to take them to hospitals. Moreover, they are at risk of exposure to viruses in hospitals and clinics. Now that they have had the experience of virtual consultations, they prefer care delivery at home rather than going to hospitals.
Chronic Diseases treatment
The number of people above the age of 45 face health issues. Some patients are suffering from chronic diseases regardless of age. Regular monitoring of their vitals is very important. Moreover people now prefer Virtual healthcare services which are easily accessible and save a lot of time, effort, and money. Now that people have found these services effective, they will opt for online consults rather than frequent in-person visits.
The duration of post-operative care is quite long and tedious. If given a choice, people will lean towards wearables which will help keep doctors posted on the status of the treatment. Many times, the cost of post-op care is more than the actual treatment and sometimes is not covered under insurance. Virtual care-delivery services will help reduce the financial burden of people going through these treatments.
Some health conditions need multiple follow-ups and second opinions to figure out the right approach to treat the issue. It is much easier for patients to do follow-up consults virtually rather than going through the tedious process of appointment booking, commuting, and waiting for their turn. It helps reduce the queue outside the doctor’s office as well. Some health issues need a second opinion, sometimes both by patients and doctors. Virtual Healthcare technologies make it possible for them to take second opinions from doctors all over the world. With electronic records and image sharing, doctors can diagnose the problem better.
What does Virtual Health include?
Virtual Health can be broadly divided into below applications-
mHealth applications have widespread use. From symptom checkers to appointment booking, from fitness trackers to uploading medical records, from video conferencing features to chatbot integrations, mHealth apps are on a rise mainly because of easy accessibility for the tech-savvy customers. According to a study by NCBI, among the 22 selected mHealth apps operating in India, Practo, mfine, DocsApp, 1mg, Netmeds, Lybrate, MediBuddy, and Medlife were found to be the eight most popular ones with over a million downloads and on average four-plus user rating out of five. All the above apps are mainly being used for online consults. This just goes about showing that people prefer having homecare services instead of stepping out.
The rising number of patients with different stages of COVID symptoms was a task to deal with. E-triage software here enables hospitals to triage patients into different sections when there’s an overload of patients at a particular time. Now, in the case of home care, e-triage tools help patients to access the gravity of their health condition and notify the healthcare provider accordingly. Such tools help reduce A&E waiting time and improve NHS performance. Many companies are building healthcare software integrating the E-triage module within EHR, telemedicine, clinical decision making, billing, etc. In India, Persistent Systems’ cutting edge platform has a Nurse Triage system that enables nurses to see the queue of patients and triage via phone calls. Once the calls are done, a triage report is generated and sent to care providers. Many leading doctors feel that AI in image triage will see a boost in near future.
Remote Patient Monitoring
There are multiple benefits such as reduced post-op expenditure, time wastage, less exposure to other diseases, etc. The global remote patient monitoring devices market is expected to expand at a CAGR of 7.1% during the forecast period (2019–2027) according to Coherent Market Insights. Some of the top players in this space are Biotronik, Boston Scientific Corporation, CAS Medical Systems, CONTEC MEDICAL, Dragerwerk, GE Healthcare, Guangdong Biolight Meditech, Medtronic, Mindray Medical, Nihon Kohden, Philips Healthcare, Spacelabs Healthcare, Abbott. Companies such as GE Healthcare and Philips Healthcare have done a great job with building remote patient monitoring systems within the hospital premises as well as homecare for COVID patients. The main goal was to reduce the exposure of healthcare workers to at-risk patients.
Synchronous and Asynchronous Telehealth
Synchronous telehealth, in other words, Telemedicine is where there is a live conversation between the patient and the doctor. Asynchronous telehealth involves the exchange of recorded data e.g. images, video, medical reports, pathology reports between patients and doctors, at times between doctors as well. Similar to mHealth space, companies like Practo, 1mg, Lybrate, Medlife, and Portea Medical in India are some of the top players in telehealth and telemedicine. Lybrate’s USP lies in CMS (Clinical Management System) which helps doctors with tedious tasks of managing patients and providing better care. Meanwhile, Portea Medical’s home consults and pharma delivery have more relevance with the audience as it combines technology with a touch of personalization.
Digital Therapeutics delivers evidence-based therapies with the help of software which can be used both as a preventive measure as well as treatment application. The effectiveness of the medication and lifestyle changes on patients are monitored by leveraging technology. In India, major non-communicable diseases that account for 62% of the total mortality rate are CVD, diabetes, respiratory conditions, and cancer. Prominent global players in this space include Noom (US), Livongo Health (US), Omada Health (US), WellDoc (US), Pear Therapeutics (US), Proteus Digital Health (US), Propeller Health (US), Akili Interactive Labs (US), Better Therapeutics (US), etc. Omada Health is the pioneer in the DTx (Digital Therapeutics) that focused primarily on diabetes and pre-diabetes but now is branching out in the mental health space as well. In India, Altran (a part of Capgemini) is into building personalized DTx applications for clients. Whereas a start-up called Wellthy Therapeutics has ready solutions catering to multiple diseases.
Future of Virtual Health
Undoubtedly, there has been a massive increase in the adoption of Virtual Health technologies as people have gotten accustomed to the ease of certain services at home. In the coming future, mHealth apps, remote patient monitoring, and Digital therapeutics see a surge in demand from the customers. According to a study by Markets and Markets, “The global digital therapeutics market is projected to reach USD 6.9 billion by 2025 from USD 2.1 billion in 2020, at a CAGR of 26.7% during the forecast period (2020–2025).” A study by Fortune Business Insights, “The global mHealth market size is projected to reach USD 293.29 billion by 2026, exhibiting a CAGR of 29.1% during the forecast period.” A Research and Markets report says, “The remote patient monitoring market is expected to reach US$31.326 billion by the end of 2023.” Apart from the above, development in digital infrastructure such as virtual health stations where doctors can provide consultations globally, mobile ICUs, MRIs, X-rays, ultrasound equipment, the establishment of rural virtual care units reaching the remote areas of the country are some of the trends which will gain momentum. The focus would always lie upon the personalization of the virtual care experience for patients driven by data exchange and interoperability.
Indeed, there are certain challenges to the implementation of these technologies, lack of infrastructure, and digital literacy amongst elders and lower strata of society. Many healthcare institutions still have inhibitions while investing in digital technologies fearing rejection from the customers. It will be crucial for care providers to choose the right partner for implementing these technologies and create awareness amongst people to adopt them.
In a Nutshell
The success of virtual care relies on how well the digital experience is designed for the patient. “By 2025, as many as 95 percent of all customer interactions will be through channels supported by artificial intelligence (AI) technology” – Microsoft. The use of algorithms and AI for personalizing these experiences will be the key.
Find out more about unchartered territories in ‘Blue Ocean’ of Digital Health. Join our webinar hosted by Parag Sharma (CEO, Mantra Labs) as he shares his insights on untapped opportunities using digital self-care tools within behavioral healthcare & emotional wellness.