These Companies Are Putting “Magnificence” in Healthcare

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These Companies Are Putting “Magnificence” in Healthcare

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Hello, Reader.

As AI infiltrates the medical field, the U.S. healthcare industry is on track to grow faster than any other sector in the United States economy.

According to the Bureau of Labor Statistics, the U.S. healthcare industry will add an average of 1.8 million jobs per year over the next six years. If a job boom of that magnitude were to materialize, U.S. healthcare employment would soar 65% between now and the end of the decade.

But according to Acumen Research and Consulting, the AI subset of the healthcare market is on pace to grow 18 times faster than that! This massive opportunity has not escaped the attention of tech mega-giants, like those in the “Magnificent Seven.” (The Mag 7, of course, are those elite stocks that have produced almost all of the S&P 500’s gains in 2023.)

Big tech companies have made collaborations, developed AI-powered solutions, and invested in AI startups intensively. In fact, a few of the Mag 7 companies have been accelerating their pursuit of the AI healthcare market for several years.

Here are a few examples…

Magnificent AI in Healthcare

Alphabet Inc. (GOOGLis “all-in” on healthcare. Its Google Health division utilizes DeepMind, Alphabet’s in-house AI company, to pursue breakthroughs in pharmaceutical R&D, radiology, and imaging.

Amazon.com Inc. (AMZN) has developed its AI-enabled HealthScribe, a HIPAA-eligible solution that empowers healthcare software vendors to build applications that automatically generate clinical notes by analyzing patient-clinician conversations. Amazon also beefed up its healthcare-focused solutions a few months ago by spending $4 billion to buy Anthropic, a generative AI company. Thanks to this merger, AWS customers can employ Anthropic’s Claude generative AI models via Amazon Bedrock to facilitate drug development.

Apple Inc. (AAPLis targeting a completely different facet of the AI healthcare world by producing a variety of wearable “smart” gadgets. The iPhone and Apple Watch, for example, can continuously gather patient data and vitals for further processing with AI. Quite literally, an AI algorithm could be conducting personalized medical research on you while you are busy shopping for Fruit Loops in a supermarket aisle. Additionally, Apple’s Health App offers a robust patient-doctor interface via the iPhone or Apple Watch.

Along with these whale-sized companies, dozens of smaller fish are also swimming in the healthcare AI waters. Almost none of these minnows are booking profits yet, but all of them are pursuing next-generation AI technologies of some sort.

Staying on the Right Side of the AI Flood

Clearly a few of the Mag 7 companies are finding clearly finding opportunities in AI’s vast waters – especially when it comes to the healthcare industry.

However, according to Goldman Sachs, 300 million people are about to find themselves on the wrong side of a great flood of destruction caused by artificial intelligence… 

And you might be one of them. 

That’s why I’m issuing this A.I. Code Red today.

With my connections in Silicon Valley and on Wall Street. I can tell you with confidence that the most disruptive technology of this century is about to blow the wealth gap wide open.

Artificial intelligence could soon cause millions of Americans to fall further behind, never able to recover.

If you want the chance to end up on the winning side of the growing wealth gap, then you can either heed this warning and prepare for what’s coming… or you can be one of the millions of Americans who falls victim to what could be the most devastating act of destruction this century.  

Click on this link for all the details.

Regards,

Eric


Article printed from InvestorPlace Media, https://investorplace.com/smartmoney/2024/01/these-companies-are-putting-magnificence-in-healthcare/.

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