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Wednesday, December 7, 2022
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Buying into the AI Hype

Any discussions about human strengths in general have a tendency to go on for a long time. This is partly because there is so much to unpack here, but at the same time, it has a lot to do with our disagreements over how valuable these strengths are under different circumstance. Nevertheless, one that has the consensus in its corner would be our ability to quickly switch things up, if they are not working as per the expectations. Instead of getting discouraged by the results, we are able to swiftly alter our approach, thus making sure that we are doing everything on our end, at the very least. Such a pattern has proven to be instrumental in many of our successes, and when we say that, the picture remains incomplete until we rope technology into it as well. Even though technology, in its current shape and form, looks as good as a man-made thing can get, there were many setbacks along the way that we had to overcome to get to this point. However, with our ability to mould the landscape, we successfully turned these setbacks into blessings in disguise. Instead of abandoning a pursuit altogether, we kept on striving for a better method, and once we did that enough times, a tech-centric world was born. Now, the try-and-improvise approach has yielded positive results throughout the spectrum, but if you are looking for its most important achievement, you must peek into the healthcare sector. After doubting the efficacy of tech in bolstering medical care, the sector eventually had come to Jesus moment, which led to complete reconstruction of its image. Today, there are many factors that essentially drive the new era of healthcare, and one of them is poised for its biggest leap so far.

Northwell Health, a New York-based company, is partnering with Aegis Ventures, as the two organizations look to develop, launch, and scale AI-driven healthcare companies. The idea here is to create a robust AI powerhouse that will be founded on the core mix of Northwell’s clinical expertise and Aegis commercialization abilities. Another important element would be Northwell working with Aegis’ data scientists to squeeze out more value from the overflowing streams of data we have around the block today. It must be noted that the said partnership isn’t designed to put-together just another AI system. Instead, the two companies want to project AI as a viable option for solving many issues within the sector by making clinicians, researchers, and most importantly patients, equal stakeholders of their vision.

“We look forward to constantly trying to improve upon the way we look at care, the efficiencies in care, the types of disparities that may exist in care delivery and hopefully glean insights into better patterns of care and/or better ways of providing it more efficiently through the use of data,” said Richard Mulry, COO of Northwell’s business arm TrueNorth.

As per the reports, the joint venture will be kicking things off with predictive modeling for preeclampsia. Once everything is up and running, it is expected to explore other serious conditions like diabetes and cardiac problems. With North American AI market ready for a 44.2% increase in its growth rate over the next 6 years, Northwell and Aegis’ plan of empowering new companies stands every chance to become an important development for the healthcare industry.

 

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