Researchers predict that widespread use of AI in healthcare could result in yearly cost savings ranging from 5-10%, amounting to $200 billion to $360 billion.
These projections are based on achievable AI applications using existing technology in the next 5 years, without compromising quality or availability. The limited uptake of AI is due to a lack of trust, heterogeneous data, and misaligned incentives. However, the near future will likely see broader adoption of AI, bringing numerous non-financial benefits like improved healthcare quality, increased care access, and better patient/doctor satisfaction.
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