Search AI Products and News

The health tech sector has seen significant funding recently, highlighting the rapid rise and widespread adoption of artificial intelligence in healthcare. Early-stage venture capital firm SignalFire secured $1 billion in funding to support AI-focused startups. This brings SignalFire's total assets under management to $3 billion, underscoring its prominence in the industry. SignalFire's portfolio includes several healthcare startups, such as Grow.

Recently, Abridge announced the successful raise of $150 million, with plans to better integrate generative AI technology into the healthcare industry. This startup focuses on transcribing conversations between doctors and patients, automatically organizing these records into electronic health records. Source Note: Image generated by AI, image courtesy of service provider Midjourney. As the healthcare industry faces staffing shortages, Abridge aims to help clinicians reduce administrative burdens by enhancing its technology. The company partners with electronic health record giant Epic.

Generative AI in the healthcare market is a revolutionary technology that utilizes artificial intelligence to transform the medical industry. By 2032, the market size of generative AI in healthcare is expected to reach $30.4 billion, with a compound annual growth rate of 34.9%. Diagnostic applications account for more than two-fifths of the market revenue in the healthcare sector, while hospitals and clinics are the highest revenue-generating applications of generative AI in the medical field.

The National Institute for Health and Care Excellence (NICE) in the UK has first recommended the use of artificial intelligence to assist clinicians within the National Health Service (NHS). Using AI to create contours can save radiographers time while delivering quality comparable to manually drawn contours. AI technology is recommended to support radiotherapy planning in order to save time and money.