Big Data and Artificial Intelligence in Healthcare Predicted to Become $100 Billion Per Year Market, According to
McKinsey Report
EAGAN, MN / ACCESSWIRE / January 9, 2018 / CEOCFO Magazine, an
independent investment publication that highlights important technologies and companies, today explains how medicine is being
transformed by new data and by artificial intelligence, with new technology platforms like the D-CHIP™ from Helomics and Skyline Medical (NASDAQ: SKLN) leading the way.
The past decade has brought explosive growth in healthcare information. Rapid and inexpensive genetic sequencing is reading the
genetic code not only of patients' DNA but also of hundreds of thousands of different tumors. Technologies to analyze proteins and
other substances are making it possible to understand the underlying biology of disease - and how medicines can treat those
illnesses. Pharmaceutical companies and health insurers are collecting huge amounts of data on individual treatments and patient
outcomes.
This data promises a new era in medicine, in which the first signs of disease are spotted - and treated -before people actually
get sick, and where treatments are personalized for individual patients. Take cancer. Tumors that seem to be of the same type can
actually have very different underlying genetic mutations. Since many of today's drugs are designed to target particular genetic
vulnerabilities of cancer cells, a drug that is effective for some tumors will fail for others. But if the genetics of individual
cancers are analyzed, doctors then can pick the right drug.
Making full use of this vast flood of data, though, is beyond the capability of the human mind. That's why medicine is increasingly turning to artificial intelligence - using powerful computers and
sophisticated software to make sense of the data. Artificial intelligence can help doctors to make quicker, more accurate diagnoses, to pick the right treatments, and to continually improve the
quality of healthcare. Consulting giant Accenture predicts that artificial intelligence
will actually save the U.S. healthcare system $150 billion a year by 2026, while McKinsey sees a total market for Big Data and artificial intelligence of more than $100 billion a
year.
The potential of artificial intelligence in healthcare has attracted hundreds of companies to the field, from Big Pharma to
Giant Technology firms. Here, however, CEOCFO magazine is focusing on a promising Pittsburgh-based company, Helomics. In addition
to genetic tests for cancer, Helomics has developed a bioinformatics and artificial intelligence platform it calls D-CHIP™ (Dynamic
Clinical Health Insight Platform).
"D-CHIP's database contains genetic and clinical information on more than 149,000 cancer tumors, based on more than a decade of
clinical testing," explains Gerald Vardzel, CEO of Helomics. "Pharmaceutical companies and doctors can then use the artificial
intelligence engine in D-CHIP to develop - and use - revolutionary cancer treatments targeted at individual patients."
Meanwhile, Helomics is teaming up with Skyline Medical (NASDAQ: SKLN), which markets an
innovative system for collecting and disposing of fluids from patients, and which is investing in or partnering with companies on
the leading edge of healthcare. For example, Skyline and Helomics recently licensed next
generation sequencing technology that will make even more genetic data from tumors available to the D-CHIP platform. "We are
carefully positioning Skyline to be a major player in the coming artificial intelligence and Big Data revolution in medicine," says
Carl Schwartz, CEO of Skyline Medical.
Contact:
Bud Wayne
Editorial Executive
CEOCFO Magazine
570-851-1745
budwayne@ceocfomagazine.com
SOURCE: CEOCFO Magazine