As they grapple with rising costs, three in four C-suite leaders say recent artificial intelligence advancements will “reshape the industry,” according to a new Bain & Company report. But just 6% have an organizational plan to harness it.
Health system execs are particularly excited about AI and automation’s potential to streamline financial and operational processes, tackle administrative inefficiencies and reduce clinician burnout. They see big opportunities for improving workflows and clinical documentation, managing and analyzing data and more in the year ahead, Healthcare IT News reports.
Further out, in the next two to five years, hospital leaders say they’re planning more AI-powered initiatives around predictive analytics, decision support, guided treatment insights and more, according to the report.
The potential is especially attainable given that the cost to train AI and machine learning models has decreased exponentially, according to Bain: “Down 1,000-fold since 2017,” it promises an “arsenal of new productivity-enhancing tools at a low investment.” Read more.
