Alphabet’s GOOGL division Google revealed a few of its latest AI-backed efforts to deepen its penetration into the multi-trillion healthcare industry at its annual health event, which took place in New York City.
Reportedly, a new AI feature powered by the company’s advanced AI model called Gemini is being developed by Google Research and Fitbit. The feature will help train Fitbit users on their personal health by leveraging data collected from their wristbands.
Further, the search giant intends to provide AI-powered screenings for tuberculosis, lung cancer and breast cancer in India in collaboration with Apollo Radiology International. This initiative, which is currently subject to regulatory approvals, is meant to deliver 3 million free scans over the next 10 years.
Google is also making efforts to enhance health information on its search engine and YouTube.
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Google’s Aggressive Stance on Healthcare
The latest initiatives are in sync with Alphabet’s aggressive efforts to revolutionize the healthcare industry with the help of AI.
Apart from these endeavors, Google recently launched Vertex AI Search for Healthcare, a generative AI-powered tool intended for the healthcare industry. The tool utilizes generative AI to assist clinicians search for information from patient notes, scanned documents and other clinical data. The tool's understanding of medical terminology and specific data points provides transparency and reduces hallucinations.
Further, the company’s launch of MedLM, a family of generative AI models designed for the healthcare industry, remains a major positive. These models offer medical documentation testing, drug development research and chatbot provider identification.
Google intends to expand MedLM capabilities with MedLM for Chest X-rays to help with their classification for operational, screening and diagnostics use cases, and a Condition Summary feature to enhance task-specific API capabilities.
The company also offers Healthcare Data Engine, which provides interoperable patient data and clinical insights in FHIR format.
The above-mentioned endeavors will aid the company in capitalizing on the growing demand for generative AI in the healthcare industry.
Per a Global Market Insights report, generative AI in the healthcare market is expected to reach $22.1 billion by 2032, witnessing a CAGR of 32.6% between 2024 and 2032.
A Precedence Research Report shows that the market is expected to hit $21.74 billion by 2032, seeing a CAGR of 35.1% over 2023-2032.