The artificial intelligence (AI) infrastructure market is expected to witness significant expansion over the next decade across global healthcare sectors. AI algorithms have shown remarkable capability in analyzing vast amounts of medical data, including patient records and genetic information. This capability enhances the speed and accuracy of diagnoses, leading to improved patient outcomes. AI-driven diagnostic tools can identify subtle patterns and indicators of diseases, enabling early detection and prevention. These advancements are key drivers of market growth.
According to a report by Precedence Research, the global AI in healthcare market, valued at $19.27 billion in 2023, is projected to reach $26.69 billion in 2024 and approximately $613.81 billion by 2034, with a compound annual growth rate (CAGR) of 36.83% from 2024 to 2034. The U.S. AI in healthcare market, valued at $6.07 billion in 2023, is anticipated to grow to around $195.01 billion by 2034, reflecting a CAGR of 37% over the same period. Notable companies in this sector include Avant Technologies Inc. (OTCQB: AVAI), C3 AI (NYSE: AI), Snowflake (NYSE: SNOW), NVIDIA Corporation (NASDAQ: NVDA), and Microsoft Corporation (NASDAQ: MSFT).
The report highlights the growing adoption of digital technologies in healthcare, driven by the need to reduce costs and improve the quality of patient care. The rising prevalence of chronic diseases and an aging population are contributing to an increased patient load in hospitals, generating large volumes of health data that need effective management. The growing demand for personalized medicine and the necessity of maintaining digital health records are significantly propelling the AI in healthcare market.
Avant Technologies Unveils AI-Powered Healthcare Infrastructure
Avant Technologies, Inc. (OTCQB: AVAI) has announced a new initiative to enhance patient care through the development of an advanced AI-powered healthcare infrastructure. This platform will leverage machine learning and advanced computing to improve care delivery and patient monitoring. Healthcare-focused applications, including “intelligent agents,” will benefit from the platform’s built-in features tailored for both professionals and patients.
Avant’s vision includes integrating with existing systems and providing a suite of infrastructure and intelligent features. These features encompass personalized guidance for patients, advanced analytics for optimizing treatment plans, and tailored protocols based on individual patient data. The platform will also include predictive health analysis and medication management tools to ensure optimal adherence and effectiveness.
A key aspect of this infrastructure is its secure connection to clinic and hospital databases, ensuring privacy and compliance while enabling remote telemedicine features. This expansion aims to improve access to quality healthcare, particularly in underserved areas.
Kenneth L. Waggoner, CEO of Avant Technologies, stated, “Our mission is to harness the latest advancements in AI, including the potential of future quantum computing, to create a healthcare ecosystem that naturally incorporates smart features for patient care, ensuring every patient receives the best possible care.” Avant is also focused on optimizing healthcare spending through data-driven insights, making quality healthcare more accessible and affordable.
C3 AI (NYSE: AI): Recently achieved the Amazon Web Services (AWS) Generative AI Competency, recognizing its expertise in supporting generative AI technologies for digital transformation.
Snowflake (NYSE: SNOW): Announced it will host the Llama 3.1 collection of multilingual open-source large language models (LLMs) in Snowflake Cortex AI, allowing enterprises to build powerful AI applications at scale.
NVIDIA Corporation (NASDAQ: NVDA): Unveiled major advancements in Universal Scene Description (OpenUSD) to expand the framework’s adoption across various industries, facilitating the development of virtual worlds and AI-powered robotics.
Palantir Technologies Inc. (PLTR) and Microsoft Corporation (NASDAQ: MSFT): Expanded their partnership to bring sophisticated cloud, AI, and analytics capabilities to the U.S. Defense and Intelligence Community, integrating Microsoft’s Large Language Models with Palantir’s AI Platform in secure government cloud environments.
