What You Should Know: Hyro, the leader in plug-and-play conversational artificial intelligence (AI), today announced that it has finalized a $20 million Series B funding round led by Macquarie Capital, with participation from Liberty Mutual Strategic Ventures, Black Opal Ventures, and existing and new investors, bringing the company’s total funding to $35 million.With this capital raise, Hyro will continue to meet the healthcare sector’s critical demand for conversational AI and automation,
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Artificial Intelligence in Healthcare | News, Analysis, Insights - HIT Consultant
AI in Drug Discovery Market to Reach $4B by 2027
What You Should Know: The AI in Drug Discovery market in terms of revenue was estimated to be worth $600M in 2022 and is poised to reach $4B by 2027, growing at a CAGR of 45.7% from 2022 to 2027 according to a new report published by MarketsandMarkets™. The report cites the growing need to curb the drug discovery cost & reduce the overall time taken in this process, the rising adoption of cloud-based applications and services, and the impending patent expiry of blockbuster
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DiagnaMed Launches Generative AI Brain Health Solution
What You Should Know: DiagnaMed, a generative AI healthcare solutions company launches PalGPT.ai, a generative AI brain health solution powered by OpenAI's ChatGPT for people seeking an AI companion to have meaningful private conversations, friendly advice and share inner thoughts.PalGPT.ai is the Company’s second commercial product from its Health GenAI division, which is focused on the development and commercialization of a suite of generative AI ready-made and customizable applications to
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UNC Health to Pilot Epic, Microsoft’s Generative AI Tool
What You Should Know: UNC Health will participate as early adopters of Generative AI (Artificial Intelligence) tools through a program with Epic. It will be one of the initial few healthcare systems nationwide to do so.Epic and Microsoft announced a partnership in April to develop and integrate Large Language Models into Epic’s software. Building Strong Foundational IT Systems “We are incredibly excited that UNC Health’s work to build strong foundational IT systems and our existing
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AI Can Eliminate Surprise Bills, Improve Payment Integrity
Anyone who receives a hospital, medical imaging, or outpatient surgery bill is usually surprised at the cost. No matter the cost, how do they know the bill is correct? They don’t. Incorrect medical bills have become so prevalent that organizations have started applying technologies like artificial intelligence (AI) and machine learning to reduce drastically high healthcare costs. Consider what organizations as diverse as the Office of the Inspector General, Harvard
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Why AI-Driven Cancer Screening Will Soon Become Standard of Care
Healthcare delivery is undergoing a dramatic transformation as AI technologies begin to take hold in the care setting. The technology is revolutionizing radiology, particularly in ED triage, early disease detection, and now in cancer imaging and reporting. These fields are particularly suited to improvements using AI, given their antiquated workflows and resistance to change over the decades. But how – specifically – is AI transforming this industry for good? Using AI for advanced cancer
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Q/A: IQVIA’s Global Lead Talks Unlocking AI for Drug Repurposing
In an interview with HIT Consultant, Nathan Sommerford, Global Lead for Drug Discovery and Development, IQVIA talks how unlocking artificial intelligence (AI) in drug repurposing is transforming pharma and biotech companies. What are some of the challenges and problems associated with drug discovery “from scratch”? Nathan Sommerford, Global Lead for Drug Discovery and Development, IQVIA: In the traditional drug discovery and development paradigm, it can cost up to $1.8 billion and
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Hippocratic AI Launches with $50M for Safety Large Language Model for Healthcare
What You Should Know: Today, Hippocratic AI launched out of stealth to announce the first Large Language Model (LLM) designed specifically for healthcare, as well as a $50M seed round co-led by General Catalyst and Andreessen Horowitz.Co-founded by Munjal Shah and Meenesh Bhimani MD, Hippocratic AI is building the first LLM for healthcare, with an initial focus on non-diagnostic, patient-facing applications. It has outperformed existing language models (e.g. GPT-4) on 100+ healthcare tests
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Laguna Health Secures $15M for AI-Powered Contextual Care Management Platform
What You Should Know: Laguna Health, a NYC-based AI-powered contextual care management platform raises $15M Series A funding co-led by SemperVirens and HC9 Ventures. The initial close brings Laguna’s total raise to date to over $21M.The company will use the funding to deepen its AI capabilities in the care management context and expand its go-to market. Contextual Care Management, Powered by AI 35 million Americans are hospitalized annually, with at least two-thirds discharged to
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How AI Can Deliver Benefits in Healthcare Manufacturing and Patient Device Usage
According to Grand View Research, the global artificial intelligence (AI) in healthcare market size was valued at USD 15.4 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 37.5% from 2023 to 2030, to reach an estimated USD 208.2 billion. That’s an impressive growth rate, indicating the expected value delivery to a mostly early-phase adoption of AI in the healthcare marketplace. With such aggressive predicted growth, many health industry professionals may ask
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