Readers of Vantage Point ® may recall that the publication addressed the issue of artificial intelligence (AI) five years ago, when the concept was first becoming widely familiar. It was then touted as a revolutionary development, which had immense but not fully understood potential in healthcare settings. AI has evolved and continues to evolve on many fronts, transforming clinical processes ranging from diagnostics and medical decisionmaking to patient/client/resident treatment and care planning.
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In this issue
- AI Uses in Healthcare
- Basic AI Terms
- A Note About AI Regulation
- Quick Links
AI refers to various technologies designed to replicate certain human cognitive functions. (See “Basic AI Terms” on page 3.) Now present in nearly every sector of healthcare, AI can help providers more efficiently analyze complex data, apply findings to clinical situations, render evidence-based treatment decisions and enhance care planning. In fact, according to the McKinsey & Company consulting group, the application of AI-driven algorithms – i.e., sequences of problem-solving instructions working from a defined dataset – and predictive analytics is projected to grow in the health services and technology industry at
an average rate of 9 percent annually, reaching $100 billion in profitability by 2028.
As AI utilization expands within the healthcare industry, so do related liability exposures. This edition of Vantage Point ® takes a fresh look at AI applications in the healthcare industry, revisits data-related exposures, notes regulatory efforts intended to enhance data quality and minimize bias, and offers an overview of professional liability considerations and associated risk mitigation measures.
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