HOW BIG TECH SEES IN HEALTH
Silicon Valley is ramping up its health care ventures to profit from a vast and fast-growing part of the economy. Big tech is trying to remake healthcare.
Tech giants such as Apple, Amazon, Microsoft and Google are moving into the business of keeping people well, a logical frontier.
Apple’s latest foray into personal health starts with the new iWatch Apple can:
Track your vital signs
Organises your health history
Link to other apps and systems
Call for help after a fall
Monitor heart beats for dangerous conditions
Do an electrocardiogram
Collect data for medical research,
Connect hospital medical-record systems.
Amazon plans to shake up the prescription-drug business and health coverage, but they dominate other areas of health already
Medical product sales (latex gloves, bed liners, specialized dental tools, medical devices) move beyond $10 billion.
Electronic medical records
Genomics researchers store and analyze vast amounts of data, ramp up processing power for trials and modeling - allowing more cost-effective tests.
Google wants to help make you live longer and has moved into
understanding the process of aging and extending life spans
new ways to collect and use health data (contact lens that monitors glucose levels.
artificial-intelligence with a significant health care focus.
Medically focused and HIPAA-compliant cloud storage, email and file-sharing products
“Dr. Google” where doctors help ensure common questions are answered accurately
Microsoft is trying to
sell hospitals, drugmakers and doctors software, cloud processing and artificial-intelligence services for more personalized medical care.
speech/language recognition for a “triage bot”
tools for monitoring whether a patient sticks with a treatment plan
cloud-computing harnessing the processing muscle for computing-intensive genetic analysis.
Using machine learning to target cancer therapies
Big data to detect cancers or other potentially fatal medical conditions earlier.
IT IS ONLY THE BEGINNING
While this is the beginning, and challenges lay ahead such as:
Algorithmic technology can trigger false positives,
Skepticism is high, and
Rebuilding health infrastructure takes years.
Watch this fast emerging space.