Smart Thinking on AI in Health: Part 1 – Overview Global Insights | Wellness 3 Smart Thinking on AI in Healthcare RELATED: The Transformation of Health:How Consumer Pressure and the Data Revolution Are Changing Healthcare for the Better This is the first in a series of five reports on Artificial Intelligence in healthcare, and it aims to provide a broad overview, both on what’s happening and the implications. We believe that in time, AI will transform healthcare, gradually but profoundly.  So far AI’s impact on healthcare has been relatively modest, with some interesting developments in radiology, BioPharma and in a handful of health- specific admin systems. These products are mostly point solutions that address the needs of the pre-existing players in their pre-existing workflows.  In the next few years AI is likely to automate a good deal of health administration, relieving workers of mundane tasks, saving both money and time, and thereby improving clinical outcomes. This sort of AI will integrate the different parts of the system, for example the payers and providers, much more tightly.  We also expect AI to profoundly affect the BioPharma industry. The transformer technology that can understand ordinary languages (like English), and which is driving innovations like ChatGPT, can also be used to analyze large molecules like DNA and proteins.  In the long term we believe AI will fundamentally change the relationship between clinicians and patients. We believe diagnoses will become increasingly automated. We expect that family doctors will become more like health coaches and hospital specialists will become more productive, attempting more personalized and ambitious interventions. We therefore think AI will trigger a significant change in the way healthcare is delivered. Mike Guarino is the global head of health technology at Citi’s investment bank, and he believes AI will be a central driver in the future of health. “AI is going to be a critical component of healthcare moving forward,” he says. “We believe it will accelerate trends that we have been seeing in the market, which include a focus on increased value through improved clinical outcomes and cost efficiencies, enhanced patient experience, and workflow simplification.” We have tried to keep this introductory report quite short, so we haven’t included many case studies. However in the more detailed follow-up reports, we will include lots of examples of what companies are actually doing to bring the story of AI and healthcare to life. Figure 1. Reports planned in the Smart Thinking on AI in Healthcare series 1 Overview AI will progressively transform the health system 2 Medical Devices AI devices are already becoming more common, especially in radiology 3 Health Administration AI will help automate a lot of admin, taking over mundane tasks and saving time and cost 4 BioPharma BioPharma will be deeply affected as transformers analyze large molecules 5 Role of Doctors Gradually AI will automate diagnosis and prescription, letting doctors focus on higher tasks © 2023 Citigroup Inc. No redistribution without Citigroup’s written permission. Source: Citi Global Insights