How Artificial Intelligence is Bolstering Impressive Billion Dollar Growth Opportunities in Healthcare Sector

FinancialNewsMedia.com News Commentary

PALM BEACH, Fla., Sept. 12, 2023 /PRNewswire/ -- Artificial Intelligence (AI) and machine learning (ML) algorithms are being widely adopted and integrated into healthcare systems to accurately predict diseases in their early stage based on historical health datasets. The growing datasets of patient health-related digital information, increasing demand for personalized medicine, and the rising demand for reducing care expenses are some of the major driving forces of the market growth. The growing global geriatric population, changing lifestyles, rising prevalence of chronic diseases has contributed to the surge in demand for diagnosing and improved understanding of diseases in their initial stages. A report from Grand View Research projected that the global artificial intelligence in healthcare market size was valued at USD 15.4 billion in 2022 is expected to expand at a compound annual growth rate (CAGR) of 37.5% from 2023 to 2030. The report said: "AI algorithms can be trained to analyze patient health information which further supports care providers in quickly diagnosing the condition and devising an accurate treatment regime. Supportive government initiatives, the rising number of mergers and acquisitions and technological collaborations, and the ongoing Covid-19 pandemic had a significant role in boosting the growth of the market and accelerating the adoption rate of AI in healthcare." Active companies in the markets this week include: Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO), IBM (NYSE: IBM), Alphabet Inc. (NASDAQ: GOOG), Medtronic plc (NYSE: MDT), Stryker Corporation (NYSE: SYK).

Grand View Research continued: "AI/ML algorithms are being widely implemented in rapid and accurate diagnosis of medical conditions after the initial implementation in the detection of Covid-19 positive patients using personalized patient information and data consolidation. The implementation of AI/ML technologies in enhancing patient care, reducing machine downtime, and minimizing care expenses are some of the driving forces of artificial intelligence (AI) in healthcare market growth. Owing to the Covid-19 pandemic, AI-based technologies witnessed a significant boost in adoption and are set to experience a dramatic growth trajectory. Healthcare functions such as diagnostics, patient management, medication management, claims management, workflow management, integration of machines, and cybersecurity saw a remarkable surge in the integration of AI/ML technologies."

Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) BREAKING NEWS: Draganfly Awarded State-Wide Corrections Contract for Vital Intelligence Technology - Draganfly Inc. (FSE: 3U8) ("Draganfly" or the "Company"), an award-winning, industry-leading drone solutions, and systems developer, is pleased to announce that it has been awarded a statewide contract to provide its Vital Intelligence technology to a state corrections agency to help improve how its facilities enhance security and efficiency for the benefit of the community, the staff, and the inmates.

The partnering state agency, responsible for corrections across the region, oversees 21 correctional facilities that house approximately 16,000 individuals. With a dedicated workforce of around 4,500 employees, the agency has maintained the lowest recidivism rate in the nation since 2021.

Draganfly's Vital Intelligence Technology uses both drone-based applications and integration with camera systems that can monitor activity including measuring human vital signs in real-time, such as heart rate, respiratory rate, oxygen saturation, and body temperature. The Vital Intelligence provides a solution that enhances security but also ensures that accurate and essential information is readily available, aiding in more effective inmate management.

"The corrections market represents an important and significant market for Draganfly's Drone, AI and Counter Drone solutions and we are honored to have been awarded a state-wide contract for this Tier One Government Customer, said Cameron Chell, President and CEO of Draganfly. CONTINUED… Read this full press release and more news for Draganfly at: https://draganfly.com/news/

Other recent developments in the markets of note include:

IBM (NYSE: IBM) recently announced the expansion of the IBM Cloud Security and Compliance Center, a suite of modernized cloud security and compliance solutions designed to help enterprises mitigate risk and protect data across their hybrid, multicloud environments and workloads. As clients look for ways to address new threats across the supply chain and manage evolving global regulations, the solution suite helps to support their resiliency, performance, security, and compliance needs while helping to minimize operational costs.

"IBM Cloud has a long history of working with clients in financial services and other highly regulated industries, especially when it comes to helping them to drive innovation while protecting their sensitive data," said Rohit Badlaney, General Manager, IBM Cloud Product and Industry Platform. "The expansion of the IBM Cloud Security and Compliance Center demonstrates our continued focus on industry-specific capabilities that help address real world business challenges for our clients. For example, clients have the ability to utilize the IBM Cloud Framework for Financial Services, which can help them address evolving rules, laws and regulations surrounding cloud risk. The new capabilities showcase our commitment to supporting clients on their hybrid cloud modernization journeys, designed for security, compliance, privacy, and trust at the forefront of our product roadmap."

Alphabet Inc. (NASDAQ: GOOG) Google Cloud recently announced that employee experience platform Culture Amp will use Google's Vertex AI as the foundation of its generative AI solutions, following a successful pilot that could save HR professionals hundreds of hours normally spent analyzing employee feedback.

Culture Amp will use Vertex AI to train, model, and fine-tune its generative AI capabilities, underpinning efforts to combine highly accurate and actionable results from employee data with full transparency into how AI derives its conclusions.

"Our multi-year journey with AI and machine learning has shown us that you can't take a short-term, opportunistic approach to this technology—you need a rigorous operating model and ethical principles to create value in a way that doesn't endanger your customers or their employees' wellbeing," said Doug English, Co-Founder and Chief Technology Officer, Culture Amp. "Google Cloud's technical capabilities and commitment to responsible AI gave us the confidence to make it the foundation for building trustworthy and transparent generative AI functions within our Employee Experience Platform that keep humans firmly at the center of employee experience."

Medtronic plc (NYSE: MDT) recently announced the outcome of the U.S. Food & Drug Administration (FDA) Circulatory System Devices Panel (CSDP) meeting to review data presented in support of the Medtronic Symplicity Spyral™ Renal Denervation (RDN) System. The panel Committee voted unanimously (13-0) on safety and in favor (7-6) of the effectiveness of the Symplicity blood pressure procedure. The Committee's vote was closely divided on the benefit/risk profile of the device (tied at 6-6 and one abstention), with the panel chair breaking the tie, resulting in a final 6-7 vote.

"We appreciate the robust conversation that occurred prior to the vote," said Jason Weidman, senior vice president and president of the Coronary and Renal Denervation business, which is part of the Cardiovascular Portfolio at Medtronic. "We will continue to collaborate with the FDA on bringing a new option to the millions of people living with high blood pressure."

Stryker Corporation (NYSE: SYK), one of the world's largest medical technology companies, recently announced the launch of a nationwide, direct-to-patient marketing campaign, "Scan. Plan. Mako Can." Through this campaign, Stryker aims to continue to drive patient awareness of Mako SmartRobotics^™, an innovative option for those needing joint replacement surgery due to arthritis of the knee or hip.

"'Scan. Plan. Mako Can.' is rooted in the foundation of Mako SmartRobotics™," said Don Payerle, president of Stryker's Joint Replacement division. "We have an unwavering commitment to revolutionizing joint replacement technology and enabling surgeons to achieve enhanced outcomes for their patients. We are eager to share this campaign with patients experiencing joint pain so they can seek care and begin their journey towards returning to the activities they love."

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