Visitors check out Nvidia’s artificial intelligence technology at Feitian Conference 2024 in Hangzhou, China, on September 19, 2024.
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NVIDIA, Google, Microsoft Dozens of other tech companies will come to Las Vegas next week to showcase artificial intelligence tools they say will save doctors and nurses valuable time.
Sunday marks the official start of what is being dubbed the Healthcare Technology Conference HLTHThis year it is expected to attract more than 12,000 industry leaders. CNBC will be on hand to report. Artificial intelligence tools that overcome administrative burdens will be the stars of this year’s show, according to the pre-conference presentation agenda and announcements.
Doctors and nurses handle reams of paperwork as their job is to track patient records, contact insurance companies and comply with regulatory agency regulations. Often, these tasks are done manually, in part because health data is siled and stored across multiple vendors and formats.
Heavy administrative workloads are a major cause of burnout in the industry and are part of the reason a nationwide shortage of 100,000 health care workers is expected by 2028, consultants say. Mercer. Tech companies eager to get a piece of what could be a peak market $6.8 trillion In their end-of-decade spending, they think their generative artificial intelligence tools can help.
On August 13, 2024, Google Group Product Manager Alex Schiffhauer spoke at the Made By Google event held at Bayview Park in Mountain View, California.
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Google, for example, said it is working to expand its healthcare customer base by solving administrative burdens with artificial intelligence.
On Thursday, the company declare Vertex AI Search for Healthcare, launched as a trial during HLTH last year, has been fully launched. Vertex AI Search for Healthcare allows developers to build tools to help doctors quickly search for information in different medical records, Google said. The company said that new capabilities in Google Healthcare Data Engine are now available to help organizations build the platforms they need to support the generation of artificial intelligence.
Google released Thursday findings That means clinicians spend nearly 28 hours per week on administrative tasks. In the survey, 80% of providers said this paperwork takes away from their time with patients, and 91% said they felt positive about using artificial intelligence to streamline these tasks.
Microsoft CEO Satya Nadella speaks at an artificial intelligence technology company event in Jakarta, Indonesia, April 30, 2024.
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Similarly, Microsoft on October 11 announced a series of tools designed to ease the administrative workload of clinicians, including medical imaging models, health care agency services and automated documentation solutions for nurse practitioners, most of which are still in their early stages.
Microsoft already provides doctors with an automated documentation tool through its subsidiary Nuance Communications, which it acquired in 2021 for $16 billion. Visits and convert them into clinical notes and records. Ideally, this means doctors don’t have to spend time printing these notes themselves.
Nurse practitioners and doctors complete different types of documentation during their shifts, so Microsoft said it is building a separate tool for nurse practitioners that best fits their workflow.
AI transcription tools such as DAX Copilot have become popular this year, while Nuance competitor Abridge It is reported that Over $460 million, while Suki has raised $165 millionwill also attend the HLTH conference.
Dr. Shiv Rao, founder and CEO of Abridge, told CNBC in March that the speed with which the healthcare industry has adopted this new form of clinical documentation feels “historic.” Abridge gets coveted invest In the same month, investment came from Nvidia Ventures.
Nvidia is also preparing to address the workload issues for HLTH doctors and nurses.
Kimberly Powell, the company’s vice president of healthcare, will give a keynote address on Monday explaining how using generative AI will help healthcare professionals “dedicate more time to patient care,” according to the conference website. ”.
Nvidia’s graphics processing units (GPUs) are used to build and deploy models that power OpenAI’s ChatGPT and similar applications. As a result, Nvidia has become one of the main beneficiaries of the artificial intelligence boom. Nvidia shares are up more than 150% so far this year and have tripled last year.
The company has been making steady inroads into healthcare in recent years, offering a range of artificial intelligence tools spanning medical devices, drug discovery, genomics and medical imaging. Nvidia also announced expanded partnerships with: Johnson & Johnson and GE Healthcare March.
While the healthcare industry has historically been slow to adopt new technologies, the buzz around management AI tools has been undeniable since ChatGPT burst onto the scene two years ago.
Even so, many health systems are still in the early stages of evaluating the tools and vendors that will be making the rounds on the HLTH show floor. Technology companies must prove their ability to solve one of the most complex problems in healthcare.
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