GBT Technologies, Inc. (OTC PINK: GTCH) (GBT) is among a handful of companies that are developing Artificial Intelligence (AI) and Internet of Things (IoT) solutions that are expected to transform the future of the healthcare industry. Both segments of the industry, AI and IoT, are growing exponentially, and GBT’s technology is ideally positioned to succeed in this burgeoning marketplace.
GBT will grow its footprint in the industry with its “Avant! AI” (Avant!) technology, a unique AI engine capable of being “trained,” which makes it ideal for developing applications that require learning volumes of information. The company says that it plans to target the implementation of Avant! in several different applications, and the first such opportunity will be an application for the medical field that GBT will introduce to the explosive healthcare AI market.
Avant! is an “expert agent” or “knowledge advisor” that can act as a knowledge center for any given database; therefore, GBT says its technology is capable of “achieving human objectives” with its actions. Essentially GBT has created an AI engine that will be capable of retrieving specific data from just about any field, including volumes of medical data, which makes it an ideal candidate to help transform the future of the healthcare market.
The company’s Chief Operating Officer (COO), Salomon Ocon, says, “We are currently evaluating Avant! operating as an expert medical advisor for everyone. Another option is to have Avant! as a medical imaging analyst. Here Avant! will review medical imaging data like ultrasounds, MRIs, CT scans and X-Rays to identify potential abnormalities and then alert physicians to them.”
According to analysts at Benhamou Global Ventures (BGV), the healthcare AI market is forecasted to be worth $6.6 billion by 2021, with a 40% CAGR, and the healthcare IoT market is forecasted to become one of the largest digital health segments with a $158-billion market by 2022 and a 31% CAGR.
BGV explains the key trends in the digital transformation of the industry, “The healthcare market faces sweeping challenges that affect virtually all of its stakeholders from patients and customers to providers, administrators, and institutions. Global healthcare spending is projected to increase at an annual rate of 4.1%, driven by an aging population, developing market expansion, and rising labor costs. Beyond digital disruption, healthcare is one of the largest areas of spending representing 18% of GDP. As such, there is a unique opportunity for innovative startups.”
According to Harvard Business Review (HBR), there is tremendous excitement about how AI could change healthcare. “New AI technologies are being developed to streamline administrative and clinical processes, and venture capital is pouring in to fund dozens of new AI health care startups.”
And, it appears the excitement is justified. HBR says that strategists from Accenture’s healthcare practice investigated the value of several promising AI applications and found that they could create up to $150 billion in annual savings for U.S. healthcare by 2026.
BGV analysts added, “Healthcare AI creates self-running growth by leveraging technologies that enable machines to sense, comprehend, act, and learn to perform administrative and clinical healthcare functions to augment human activity.”
And because AI technologies like Avant! can mimic human cognitive functions, the technology is ushering in a dramatic shift in the way the healthcare industry will operate into the future. AI is a transformative technology that is revolutionizing the healthcare industry in many ways. From drug development to clinical research, AI has helped improve patient outcomes at reduced costs.
GBT’s COO said of the company’s first advanced-AI application being developed for the medical field, “Due to Avant!’s powerful capability to analyze vast amounts of data, we’re positioning Avant! to operate in the medical/healthcare industries. Its cognitive capabilities make it an efficient candidate to perform rapid, evidence-based, analysis and to quickly provide vital information for essential topics.”
Salomon Ocon said that one future possibility for GBT’s technology is to offer Avant! as a “medical expert agent” that could function as a personal medical assistant for everyone. “Imagine an intelligent medical advisor at your fingertips and available to you around the clock that provides you with accurate medical advice. This type of ‘super-intelligent agent’ would be invaluable in any household worldwide.”
To learn more about GBT Technologies, Inc. visit: https://www.goph.io