ISTANBUL -

Money-making mechanism

The economic value of open medical data is significant and growing. Access to open medical data provides researchers, healthcare providers, and policymakers with valuable insights into the health status and needs of populations. These data can be used to identify trends and patterns in health outcomes, inform the development of new treatments and interventions, and support evidence-based decision-making in healthcare policy.

Open medical data can also drive innovation and economic growth by enabling the development of new products and services, e.g., companies can use open medical data to develop new diagnostic tools, medical devices, and treatments. Additionally, unfettered data reduces healthcare costs by improving efficiency and reducing the incidence of preventable diseases. The economic value of open medical data is immense and will continue to drive innovation and progress in healthcare.

What’s in it for me? Why should I care?

“An important aspect companies have been facing for a while, costs and spending in general are becoming a real challenge, and AI can help business to tackle this issue,” said artificial ıntelligence (AI) expert and President of AI Together Badr Boussabat. There are multiple ways of going about this, such as AI-powered tools automating repetitive tasks, like data entry and customer service, reducing the need for human labor and cutting down on associated costs. Moreover, AI can be used to predict future trends, such as demand for products or services, allowing businesses to adjust their operations accordingly and avoid costly mistakes. Overall, AI can help businesses operate more efficiently and effectively, reducing costs and improving their bottom line. By leveraging the power of AI, businesses can gain a competitive advantage and position themselves for long-term success.

Choosing the right AI for open medical data and hospitals

David Wood, chair of London Futurists, noted that there has to be a way for doctors and hospital administrators who are most likely not deep learning experts to use AI and, with an already stretched budget, it Is essential for these facilities to have models that actually work in practice and not ones that are heavily marketed. Boussabat argued that hospitals have to hire AI specialists to support doctors working with AI - “We need to rethink about concrete organization of hospitals” - and discussed how redefining how hospitals work is essential for a better future of healthcare.