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AI Driven Future of Healthcare: Role of Intellectual Property

AI has the potential to push the boundaries of the healthcare industry to such an extent that it is going to make management and control over the pricing of preventive medicine quite easier.

AI and Big Data technology are bound to make the work of healthcare professionals easier, logical and streamlined and less repetitive. The potential of the technology is far reaching than what is currently understood.

The society by far has kept an open mind for the use of artificial technology in the field of healthcare; the selective reliance of the industry upon the new technology has made it possible for the improvement in the healthcare industry and has helped in enhancing the consumer experience.

The only thing that the innovators have to focus upon is working with IP professionals so as to determine how these technologies can be protected and what regulators are required.

Equitable Healthcare

Technology such as AI and machine learning has the potential of providing therapies based on the data platforms that will help predict how the patients are going to react to the given therapy and hence going to save a lot of money which could otherwise be drained down the drain.

Further,

The AI has the power to provide info to companies to develop medicines that the consumer most needs.

The artificial intelligence has vast utility to dig out a large amount of data relating to patients and population so that vital gaps between the healthcare and healthcare delivery can be addressed.

Double-Edged Sword

Intellectual property in healthcare is a very broad area as various medical institution and centres have various patents and trademark associated with their medicines and surgical devices. AI has tremendous potential for changing the healthcare system that includes prognostics, diagnostics and treatment recommendation.

The most fundamental question that arises while dealing with digital advancement in the healthcare arena is how to ensure that the AI will provide a high-quality solution along with safety. Moreover, every new technology is regulated so the next question that arises can the new technology be accessible to all?

Intellectual property is another set of the problem; when software developers come up with algorithms the only way, they can protect the tremendous amount of data is through registering it with the government under their name.

For those confused out there, patent registration is the natural choice to save these innovations and would provide you with some measures to safeguard your technology against others being able to use your expertise for their advantage.

The Complexity

Software patents are technical and certain software’s are excluded from getting patent. Hence the innovators are strongly advised to work with IP professionals to determine at the initial stage to determine whether their invention is patentable or not.

So, the perennial question still remains on how to achieve protection effectively for AI when it comes to complex innovation such as Artificial Intelligence.

There is some clarity now on the patentability of new technology as many patent offices around the world have provided some guidance on how AI technology patent will be examined under computer-implemented invention patents.

The real challenge, however, will be to capitalize on such technology and healthcare data so that such a product can be developed that the patents have trust on.

Global Impact

The adoption of AI in healthcare has reduced the cost of testing drugs in the piolet stage by 50% and increased the outcome by 50% says the report. The healthcare artificial intelligence market witnessed the growth of 41.8%, and the global healthcare artificial intelligence market is expected to witness further increase and hit the mark of 13 billion dollars by 2025.

The growing increase of artificial intelligence software intelligence is definitely a positive influence on the market and hence leads to positive industry growth in the absence of clinical professionals.

Concluding

As per many experts, AI is going to fulfil its promise to transform healthcare and deliver not just efficiency as there is a global shortage of healthcare workers/professionals that has serious implication upon the health of billions and hence the digital technology is coming to the rescue and improving the healthcare delivery system.

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