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The digital health space feels like a natural home for AI, and in particular, generative AI. At Galen Growth, we’ve just completed a fascinating piece of research into the potential of GenAI in the market. As with the rest of the digital health space, AI in digital health is moving quickly and is attracting investment from a range of sources. Big tech players such as Microsoft, Amazon and Google are already dipping their toes into the water, and there are many much smaller players vying for their place in the arena. Over 39% of private digital health ventures across the globe use some form of AI.
Some of the most promising areas of impact for AI in digital health are outlined below.
The potential of generative AI in digital health is immense. However, we need to remain cautious as there are also challenges that we cannot overlook. Perhaps most importantly, there are ethical considerations around patient privacy and data security, particularly around sensitive data.
Then there are questions about regulatory compliance which will vary across different regions and which will constantly evolve in an attempt to keep up with the technology. The EU, UK and US are all looking at AI regulation and the news is full of concerns around ways in which AI could be abused across many industries, not least healthcare. Any organisation looking to build an AI capability into their digital healthcare solutions must strive to stay ahead of these issues if they are to take advantage of the enormous potential benefits to their business and to patients.
I do recommend reading the report which is available here to get a much deeper understanding of the role of GenAI in the digital health space. You can also find out more about Galen Growth and our digital health solution, HealthTech Alpha here.
1 Predicting progression to Alzheimer’s disease with human hippocampal progenitors exposed to serum, , Volume 146, Issue 5, May 2023
2 Deep learning-guided discovery of an antibiotic targeting Acinetobacter baumannii, Nature Chemical Biology, May 2023