Artificial intelligence is already hard at work in cardiology, neurology, oncology, ophthalmology, gastroenterology, diabetes, surgery, and, perhaps one day, dermatology. And that’s just the last few months. Ideas for AI-based medical devices continue to emerge for a range of healthcare uses.
The market is big and expected to grow significantly. The 2021 market for AI in healthcare is estimated at US$10.4 billion, and the market is projected to reach US$120.2 billion in 2028, according to Grandview Research. The company attributes such growth to the need to lower healthcare costs, the importance of big data in healthcare, the adoption of precision medicine, and declining hardware costs.
AI’s role in diagnostics is particularly noteworthy. A report from Verified Market Research tracked the global diagnostic AI market at USD$532.22 Million in 2020 and expects it to hit USD$5371.11 million by 2028. The researcher expects advancements in AI and deep learning to prove more efficient in identifying disease diagnoses over the next few years.
To help medical device designers and engineers make sense of these developments and more, AI will be a hot topic at the upcoming Informa Markets Engineering West Design. Engineer. Build. conference held August 10-11 alongside Medical Design & Manufacturing (MD&M) West, WestPack, Automation Technology Expo (ATX) West, Design & Manufacturing (D&M) West, and Plastec West shows. The exhibition runs August 10-12 at the Anaheim Convention Center.
The conference kicks off August 10 at 8:30 am with the keynote panel discussion, Artificial Intelligence is Transforming Manufacturing – Or Is It? moderated by MD+DI Managing Editor Omar Ford. Panelists include Kevin Goodheart, engagement manager, Siemens Digital Industry Software; Kelly Malone, chief customer officer, Taqtile; and Dave Saunders, chief technology officer & co-founder, Galen Robotics. Held in conference room 210AB, the session will look at:
- Trends in AI +ML across manufacturing sectors
- The Love / Hate relationship between AI and big data
- Implementation challenges including ethics and bias, data quality, levels of autonomy, and the potential for "overtrust" by users
- How AR/VR hardware are using AI + ML to advance training knowledge to address changes in workforce demographics
- AI and ML skills engineers need now to be competitive in the marketplace
Other conference sessions include the following:
- AI Has Changed Go To Market Strategy: 4 Steps for Better Product Adoption, August 10 • 9:45 AM - 10:30 AM, Location: 210AB
- Artificial Intelligence: Standards & Regulatory Landscape, August 10 • 10:45 AM - 11:45 AM, Location: 209AB
- Medtech Is Embracing AI to Transform Healthcare, August 10 • 1:15 PM - 2:00 PM, Location: 210AB
To download the full Design. Engineer. Build. conference agenda, visit here.
- To register to attend MD&M West, visit here
- To register to attend WestPack, visit here
- To register to attend ATX West, visit here
- To register to attend D&M West, visit here
- To register to attend Plastec West, visit here
Stay connected across the Informa Markets Engineering's West event with #IMEWest and #DiscoverEngineerBuild