Massive Investments Are Driving AI Adoption in Healthcare

Rohit Mahajan

There has been a boom in the acceptance and implementation of AI and, more recently, Generative AI (GAI) in healthcare. While much of AI revolution in healthcare is being driven by a need to streamline operations it is also largely being propelled by billions and billons of dollars being invested in AI strictly for healthcare.

For example, in recent weeks, Spring Health's $3.3 billion valuation, CytoReason’s $80 million funding round, and the AWS-GE HealthCare collaboration all highlight the growing confidence in AI’s potential to transform mental health services, accelerate drug discovery, and revolutionize patient care delivery.

Let’s take a closer look at these three recent major investments in AI for healthcare.

A $100M Boost in AI Tech for Mental Health

Spring Health, a New York-based mental health platform, recently?secured?a $100 million Series E funding round, pushing its valuation to?a lofty?$3.3 billion. The?company’s?platform uses artificial intelligence to match patients with appropriate care providers and treatment plans.

This latest financial injection, led by?Generation Investment Management, underscores the growing appetite for innovative mental health solutions by the investment community and by corporate CEOs. Its “Precision Mental Healthcare” approach aims to reduce the time it takes for patients to find effective treatment, a selling point that has resonated with employers and investors.

The company boasts a client roster that includes tech giant Microsoft, retailer Target, and financial powerhouse J.P. Morgan Chase.

An $80M Boost for AI Drug Discovery

CytoReason?has?raised?$80 million for its AI-powered platform for disease modeling and drug discovery. The startup, founded in 2016, has caught the eye of industry giants, with Nvidia, Pfizer, OurCrowd, and Thermo Fisher Scientific all chipping in to fuel its growth.

CytoReason launched an AI platform that creates computational disease models, giving researchers a powerful tool to predict and develop new therapeutics. By simulating human diseases at the cellular level, the platform supposedly allows scientists to observe how potential treatments interact with the body, potentially fast-tracking drugs to patients.

The fresh injection of millions in capital will be used to expand the application of CytoReason’s computational models and grow its proprietary database of molecular and clinical data. The company is also planning to expand to the U.S., with plans to open an office in Cambridge, Massachusetts, later this year.

AWS and GE HealthCare Partner

Industry powerhouses, such as AWS and GE HealthCare, have announced a collaboration to harness AI to improve patient care. The partnership aims to develop AI models and applications that enhance the standard of care in the healthcare sector.

Currently, nearly a third of all digital information comes from the healthcare sector, yet 97% of this data is inaccessible to physicians due to its unstructured nature and confinement in data silos, according to the companies. AWS and GE HealthCare’s partnership seeks to unlock this data using AI foundation models (FMs) and innovative applications.

GE Healthcare plans to train and deploy clinical FMs on AWS’ machine learning and generative AI technologies. These tools are designed to help healthcare providers improve existing protocols and workflows and develop new approaches to patient care.

How BigRio Helps Bring LLM and Advanced AI Solutions to Healthcare

We completely understand the investment community’s excitement about the transformative impact of AI, and particularly, GAI applications like those that will come out of the partnership between GE and AWS.

To this end, we have launched an AI Studio specifically for US-based Healthcare startups with GAI centricity. Our mission is to help AI startups scale and gear up to stay one step ahead of the pack and emerge as winners in their respective domains.

AI Startups face numerous challenges when it comes to demonstrating their value proposition, particularly when it comes to advanced AI solutions for pharma and healthcare. We have taken an award-winning and unique approach to incubating and facilitating startups that allow the R&D team and stakeholders to efficiently collaborate and craft the process to best suit actual ongoing needs, which leads to a faster, more accurate output.

We provide:

• Access to a top-level talent pool, including business executives, developers, data scientists, and data engineers.
• Assistance in the development and testing of the MVP, Prototypes, and POCs.
• Professional services for implementation and support of Pilot projects
• Sales and Marketing support and potential client introductions.
• Access to private capital sources.

BigRio has long been a facilitator and incubator in leveraging AI to improve healthcare delivery, originally in the field of diagnostics and research. We have recently been focusing our efforts on supporting startups and developing our own solutions that use LLMs and GAI to improve those areas of healthcare as well as in direct patient interactions and customer relationship management.

You can read much more about how AI is redefining healthcare delivery and drug discovery in my new book Quantum Care: A Deep Dive into AI for Health Delivery and Research . It’s a comprehensive look at how AI and machine learning are being used to improve healthcare delivery at every touchpoint.

And, we are offering Gen AI Workshops for Healthcare, on-site, in-person, 4 hours, 30 participants at $5000.00 : https://bigr.io/genai-workshops-for-healthcare-providers/

Rohit Mahajan is a managing partner of BigRio. He has particular expertise in the development and design of innovative solutions for clients in Healthcare, Financial Services, Retail, Automotive, Manufacturing, and other industry segments.

BigRio is a technology consulting firm?empowering data to drive innovation and advanced AI. We specialize in cutting-edge Big Data, Machine Learning, and Custom Software strategy, analysis, architecture, and implementation solutions.?If you would like to benefit from our expertise in these areas or if you have further questions on the content of this article, please do not hesitate to?contact us .