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Health AI market predicted to ramp up significantly within next four years

The global healthcare industry could generate some $150bn (£114bn) in savings through its use of AI and cognitive computing by 2025, reckons Frost and Sullivan. Fresh forecasts from the consulting firm examine the current AI supplier market and the revenues expected to be made by AI-enabled technologies within primary healthcare IT. While current uptake of health AI is slow, Frost and Sullivan predicts the market will grow at a compound annual growth rate (CAGR) of 69% between now and 2022, reaching $6.2bn (£4.7bn) within the next four years. Despite "strategic and technological challenges" creating headaches for those eager to embrace AI, a'democratisation' of AI – led by major IT firms like Google, Microsoft and IBM Watson – is expected to lower the barrier to entry by making supporting infrastructure more cost-efficient. This will "dramatically improve" the lay of the health AI landscape within the next three to five years, Frost and Sullivan claims.