$6.6 billion in AI healthcare spending projected by 2021

$6.6 billion in AI healthcare spending projected by 2021

Artificial intelligence is “healthcare’s new nervous system,” according to Accenture, which has projected that spending on AI in healthcare to top $6.6 billion by 2021—an annual growth rate of 40%. With an estimated 86% of healthcare provider organizations, life science companies, and technology vendors already using AI technology, these groups will spend an average of $54 million on AI projects by 2020, compared to the current average spending of $38 million, according to a Tata Consultancy Services Global Trends Study. The Healthcare IT News and HIMSS Analytics HIT Market Indicator: Artificial Intelligence has concluded that half of all U.S. hospitals will adopt AI within the next five years.