Signify Premium Insights - Generative AI May News Round-up
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Written by Alan Stoddart | Editor of Signify Premium Insights – Generative AI.
This article provides several links to our Signify Premium Insights, evaluating recent industry-shaping events. To access these articles, you will need a subscription or can simply request a 30-day free trial.
May proved to be another busy month for generative AI vendors. One vendor type having the most significant impact on the market are Big Tech vendors. Companies such as 亚马逊 , 谷歌 and 微软 provide much of the infrastructure as well as underlying tools on which generative AI solutions and applications are built. Signify Research’s analysts discussed the role of these vendors in the rollout of generative AI in healthcare as well as detailing how generative AI could be the tool which finally allows them to make significant inroads in the healthcare space.
There were also some significant new developments from big tech vendors. The most striking of which was Google’s announcement of the healthcare-specific version of its Gemini foundation model, dubbed Med-Gemini. These models which are specialised for medicine could help improve tools built on Med-Gemini to perform at a higher level than those built on other, domain agnostic foundation models, with successful benchmark scores giving particular hope.
However, the foundation models have only been released internally and are not yet being used by outside hands. While this is arguably sensible; such models until properly tested could be damaging to the longer term rollout o the technology, it does beg the question of when providers will actually be able to benefit from generative AI technology in their hospitals.
One of the challenges facing providers and vendors looking to assess which foundation models are the best suited for their needs is the difficulties in benchmarking them. One company that has proposed a solution to this problem is AI firm Hugging Face , which has put together?a healthcare benchmark, which should allow vendors to better assess which foundation model is the right choice for their needs. The benchmark is a package of several tests, and while not perfect could make a significant difference. In the Insight discussing the benchmark, we also raised how the nature of benchmarking could shape the rollout of generative AI in healthcare, particularly if a particular benchmark becomes well used in regulatory matters.
There are various approaches to regulation however. It is presently one of the most significant obstacles to the widespread commercialisation and adoption of generative AI tools, with regulation in many cases falling behind product development.
One country looking to make headway in this regard is the UK, whose regulatory body, the MHRA, has launched an AI sandbox, allowing tools and regulation to be put through its paces away from the day to day running of providers and the care of patients. Whether it is the best way to regulate new technologies remains to be seen, but the forward looking approach, along with other decisions around the oversight of AI in healthcare which are quickly being formed, could stand the country in good stead.
May also saw generative AI targeted at several specific use cases. One which could be impactful over the longer term is the payer market. There is a great deal of waste and inefficient spending in healthcare, particularly in the US, but Alaffia Health is among the vendors looking to address this issue. It is a big challenge, and the vendor will face stiff competition from the payers themselves, but as highlighted, the impact on the healthcare market could be great.
There is also similarly great potential for generative AI to be used to improve virtual primary care. K Health claims its solution can help patients get the information they need, while also helping expedite getting them the care they require.
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About Alan Stoddart
Alan brings more than a decade of editorial expertise and leads on Signify Research’s Insight and analysis services. Prior to joining, Alan held editorial positions covering a diverse range of technology and engineering/IT topics working with Kantar Media and Kimberley Media Group.
About the Signify Premium Insights Contributing Analysts
Signify Premium Insights rely heavily on the industry expertise from Signify Research’s expert medical imaging analyst team. This team brings with it many years of experience developing market reports, insights and providing consultancy services to the medical imaging industry.
Alex Green, Managing Director and Principal Analyst
Alex has 24 years’ experience in tech market intelligence. He leads on Signify Research’s Digital Health offerings focusing on integrated care IT, EHR/ EMR and telehealth. Prior to joining Signify he served as a Senior Research Director at IHS and as a Business Analyst/IT Project Manager in a joint NHS/ Government role.
Vladimir Kozynchenko, Senior Market Analyst
Vlad joined Signify Research in 2023 as a Senior Market Analyst in the Digital Health team. He brings two years of experience in the consulting industry, having undertaken strategy, planning, and due diligence assignments for governments, operators, and service providers. Vlad holds an MSc degree with distinction in Business with Consulting from the University of Warwick.
Jon Hill, Market Analyst
Jon joined Signify Research in 2023 as a Market Analyst within the Digital Health team. He holds a BSc in Pharmacology having graduated from the University of Bath in 2023.
Arun Gill, Senior Market Analyst
Arun joined Signify Research in 2019 as part of the Digital Health team focusing on EHR/EMR, integrated care technology and telehealth. He brings with him 10 years’ experience as a Senior Market Analyst covering the consumer tech and imaging industry with Futuresource Consulting and NetGrowth Consultants.
About Signify Research
Signify Research provides healthtech market intelligence powered by data that you can trust. We blend insights collected from in-depth interviews with technology vendors and healthcare professionals with sales data reported to us by leading vendors to provide a complete and balanced view of the market trends. Our coverage areas are Medical Imaging, Clinical Care, Digital Health, Diagnostic and Lifesciences and Healthcare IT.
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