Artificial intelligence in Healthcare Industry - A.I in Medical Technology : Medical Imaging

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Artificial intelligence in Healthcare Industry - A.I in Medical Technology : Medical Imaging

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Themes

Artificial intelligence AI, medical technology, medical imaging, healthcare industry, genome, cancer, Zouinar, Pallanca, Read, Butterfly Network, Nvidia Clara, x-ray, healthcare Industry, ResaApp, SkinVision, DeepRay, General Electric, Porter's Five Forces Model, NTIC new technology of information and communication, Competitive Profile Matrix, glocalization, SWOT analysis, BCG Matrix, Zebra Medical Vision, horizontal integration, indirect competitor

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Abstract

Nowadays, we hear about artificial intelligence all around us and more specifically in the automotive, economic, computer and health sectors.
The primary goal of artificial intelligence at its inception in the 1950s was to improve and extend human capabilities with machines (Pallanca O., and Read J., 2020).
Since then, artificial intelligence has evolved well and has experienced a global advance and interest according to Zouinar M., (2020) thanks to new technologies and by offering an automation in work situations that artificial intelligence allows due to technical advances (applications, robots, optimization of internal processes) in many economic, administrative, automotive, medical or industrial sectors (logistics, customer relationship, increase of health data, automation of tasks).
For this research work, we are interested in the medical field and in the implication of artificial intelligence in this field. Indeed, we have noticed that artificial intelligence has developed during the last years in the medical field. Artificial intelligence is used for example in the monitoring of patients, the selection of a greater number of data, logistics, the creation of cardiac implants, the development of genome to fight cancer and more particularly in the medical imaging, which is the subject that interests us more particularly.

Introduction
Competitors Analysis
1. GE healthcare presentation
2. Strategic Management Theory Tools
Butterfly Network
1. Introduction
2. Strategic Management Theory Tools
Zebra Medical Vision
1. Company overview
2. Strategic Management Theory Tools
Indirect competitor - Nvidia
1. Introduction
2. Porter model
BCG Matrix
Competitive Profile Matrix
1. Competitive Advantage and Recommendations
2. Recommendations
Disruptive Innovation
Social Model (Societal Innovation)
Conclusion

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[...] Thus, the first 3 companies are 3 direct competitors, and the last company is an indirect competitor using artificial intelligence in medical imaging. Healthcare Industry Healthcare is one of the largest faster growing industries in the world. The global revenue of this market reached $8,45 trillion in 2018 and it is expected to increase $10 trillion by 2022. In developed countries, it represents 10% of their gross domestic product. The biggest market which operates in this field is the US which spend twice what other countries do because of the high cost of medical treatment. [...]

[...] Especially when it comes to detecting abnormalities that are hard to see with the human eye, the medical professionals now have the algorithms to assist them. This aspect is especially mentioned as a strong point in GE Healthcare technologies. Moreover, another aspect of the disruptive innovation brought by these companies lies in the development of secured platform or cloud system that helps with storing, sharing or analyzing data with others (with blockchain for example). This method also accelerated the deadline for response when looking for a consult from a colleague, for example. [...]

[...] Retrieved from: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7325854/ Ariel Shapira. (2021). How AI Has Completely Transformed Medtech. Retrieved from:https://www.entrepreneur.com/article/362355 Award Winning Custom Software & Mobile App Development Company. (2020, October 22). Techtic Solutions. https://www.techtic.com Brandon Klar et Vesna Gernot. (n.d). Imaging services: Time to disrupt the traditional model and unlock new value. Retrieved from:https://www.gehealthcareconsulting.com/hubfs/CON2020/docs/POV_Imaging_062920.pdf Business Wire. (2020, November 16). [...]

[...] It intervenes in several sectors as in healthcare, aviation, renewable energy, gas, oil, manufacturing and so on. They have more than 36 subsidiaries in the world and at least employees in more than 170 countries. Their revenue reached $79,619 billion in 2020 ($95,214 billion in 2019). GE is led by this vision defined here: "Our vision for the future is to enable a new early health model of care focused on earlier diagnosis, pre-symptomatic disease detection and disease prevention". Ge healthcare wants to be the solver of productivity issues in the care sector because of the overwork of doctors, nurses, clinicians . [...]

[...] Moreover, with their microprocessors using artificial intelligence, they have a place in the field of medical technology and medical imaging. (Matthieu S., 2020) SWOT Analysis Strenghts New markets Growing development To generate new revenue streams A strong reseller community A strong cash flow A high brand image A high level of satisfaction among current customers Weaknesses To integrate companies with a different working culture To partner with companies with a different culture. It's inventory management Product demand A high rate of missed opportunities New entrants To meet the challenges posed by them. [...]

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