Healthcare companies may guarantee a robust, long-term return on investment by implementing a thorough AI integration strategy that includes efficient data governance.
Many hospitals and health systems who were early adopters of healthcare artificial intelligence (AI) solutions have yet to achieve the expected return on investment (ROI), despite the fact that investments in these solutions are increasing. According to McKinsey & Company, the majority of healthcare firms examined have generally realized less than a third of the expected value of their technology transformation efforts.
Too frequently, healthcare organizations choose solutions based on a specific use case instead of initially creating a more strategic and comprehensive approach to AI implementation, according to George Morris, Global Healthcare Chief Information Officer at Dell Technologies. "Investments made by companies that have had the greatest success with AI have moved them towards a cohesive platform and maturity model,” he explained.
Morris provided a list of concrete actions that businesses may take to create a successful and long-lasting healthcare AI integration plan. A "center of excellence," as defined by Dell Technologies, is a place where people, processes, and technologies collaborate to continuously expand an organization's AI capabilities throughout the value chain.
CMI Research: Key Artificial Intelligence in Healthcare Market Insights
According to Coherent Market Insights (CMI), the artificial intelligence in healthcare market is expected to exhibit a CAGR of 38.7% between 2024 and 2031, driven by increasing investments from healthcare organizations. The market, which was valued at approximately US$ 20.81 billion in 2024 and is forecasted to exceed US$ 205.12 billion by 2031.
The global AI in healthcare market was dominated by North America. There is a growing need for improved patient outcomes, accuracy, and efficiency in the healthcare industry. The rapid expansion of healthcare data from wearable technology, genomic sequencing, medical imaging scans, and electronic health records (EHRs) offers enormous potential for AI-powered solutions to support clinical decision-making and extract useful insights.
Analyst Opinion: Strategic Role in Artificial Intelligence in Healthcare Market Growth
According to senior management consultant Komal Dighe, the growing requirement to analyze enormous amounts of patient data in order to enhance results and expedite clinical processes is driving the expansion of the AI in healthcare market. AI can assist doctors in creating more individualized care plans and precision medicine strategies as data quantities and processing power continue to rise.
Conclusion: Business Takeaways
By increasing productivity, improving patient outcomes, and cutting expenses, artificial intelligence (AI) is revolutionizing the healthcare industry. Healthcare businesses may optimize the potential of AI technologies while maintaining compliance and data security by combining a strong data governance framework with a well-executed AI plan.
