Artificial intelligence (AI) refers to the theory and development of computer systems capable of performing tasks that usually require human intelligence. AI involves the study and synthesis of intelligent agents—in this case, a computer system. The system perceives its environment and takes appropriate action to maximize its chance of success. AI is being developed to create expert systems and improve human intelligence in machines. AI in healthcare is used for analyzing the complex data of patients and perform the required tasks, which usually need human intelligence. The diagnosis and medical treatment can be done easily, in less time, precision, and less human intervention. This process would involve extensive use of data mining and interpretations for embedding human intelligence into the computer system to guide the medical practitioner and create transparency between patients and doctors. The healthcare industry is witnessing a technological revolution with the introduction of AI in applications such as data management, medical imaging, drug development, treatment plans, health assistance and medication management, precision medicine, and consultation. This report describes multiple technologies involved in AI systems, namely, machine learning, natural language processing, context awareness computing, and computer vision. _____________________ 1 Micromarkets are defined as the further segments and subsegments of the AI in healthcare market included in the report. 2 The core competencies of the companies are captured in terms of their key developments, SWOT analysis, and key strategies adopted by them to sustain their position in the market.
Visionary leaders are the leading market players in terms of new developments such as product launches, innovative technologies, and the adoption of growth strategies. These players have a broad product offering that caters to most of the regions globally. Visionary leaders primarily focus on acquiring the leading market position through their strong financial capabilities and their well-established brand equity.
Dynamic Differentiators are established players with very strong business strategies. However, they have a weaker product portfolio compared to the visionary leaders. They generally focus only on a specific type of technology related to the product.
Innovators in the competitive leadership mapping are vendors that have demonstrated substantial product innovations as compared to their competitors. The companies have focused on product portfolios. However, they do not have very strong growth strategies for their overall business, when compared with the visionary leaders.
Emerging companies have niche product and service offerings. Their business strategies are not as strong as that of the established vendors. The emerging vendors include the new entrants in the market, emerging in terms of product portfolio and geographic reach, and require time to gain significant traction in the market.