Thanks for sharing Ron Present and so glad you attended!
Partner, Healthcare Industry Group at Armanino. Empowering healthcare providers to enhance patient care and reduce cost through AI, automation and enhancing value-based care
At the recent JP Morgan Healthcare Conference, insights on the utilization of AI in healthcare was a consistent topic of conversation. In my ongoing exploration of "How Far is Too Far with AI in Healthcare," I watched a Biotech Symposium session at the SIC Venture Studio, (thanks Paul Grewal) where expert participants delved into "The Future of AI in Healthcare." During the symposium, one of the questions asked of the panelists included "What factors contribute to the failure of AI startups in healthcare?" Although the answers varied considerably, Scott J. Campbell MD, MPH, (pictured lower left) shared a great response in the form of an acronym. “AI STARTUPS FAILURE” A – Access to limited or poor-quality data I – Integration challenges with clinical workflows S – Stakeholder misalignment T – Timing that is unrealistic A – Accountability and ethical concerns R – Regulatory and compliance hurdles T – Talent gap in domain expertise U – Underwhelming performance or results P – Poor funding and related financial planning S – Saturation of the market and competitive landscape My healthcare group works with several healthcare companies, and we believe healthcare AI is something the industry needs to embrace and incorporate into both the financial and clinical aspects of their operations to stay competitive. If you are having challenges with AI, please reach out. Proactively, instead of reasons for failure, share below what you think are the key elements that drive success for healthcare AI startups. #Armanino #ArmaninoHealthcare #KaiserPermanente #AI