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What are Google & Co's ambitions in the healthcare sector?

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Summary

Artificial intelligence will revolutionize the healthcare sector in the coming years. But the big American tech companies have failed with their first offensive in the past. Now they want to approach the issue differently.

Tech companies have to learn that the medical industry ticks differently than most social systems

What is it about

Thanks to artificial intelligence, doctors are expected to make better decisions and thus not only save lives, but also find more efficient and better methods of treatment. The evaluation of personal data is essential for this. At the same time, however, this is also the biggest hurdle to be overcome in this area. While measuring one's own heartbeat with a Smart Watch and transmitting this data to the supplier of the watch (e.g. Apple) seems to be manageable, for many people the private medical record is untouchable.

This makes it difficult for developers to create algorithms that can help doctors. After all, artificial intelligence is only as good as the underlying data, and these are hard to get. Google experienced this at first hand when the company first approached the healthcare sector. The tech giant got caught in the crossfire when it tried to feed thousands of medical records to its algorithm - without the knowledge of the patients concerned.

Why is this important

Artificial intelligence can make a major contribution to a healthier society. Advanced algorithms and deep learning are becoming important decision support tools for physicians when it comes to finding the optimal treatment for their patients or to treat chronic diseases and advance personalized medicine. Microsoft, for example, is working with Novartis and artificial intelligence to find efficient solutions for developing new medicines. And Apple wants to better detect arrhythmias with its Smart Watches, which transmit real-time cardiac data to its servers. The field of application is vast - but so are the hurdles that still have to be overcome.

The Globalance View

Better treatment methods and diagnostics, the successful treatment of chronic diseases or personalized medicine: artificial intelligence can revolutionize the health care system. However, tech companies must learn that the medical industry ticks differently than most social systems and that it takes a sure instinct to gain people's trust. If they succeed in this balancing act, there is great potential for society and for investors.

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