Artificial intelligence is right around the corner, and William T. Sugg believes its impact will be truly life-changing.
Technology continues to advance rapidly, and something people thought was to be in the very far future, is actually very near. Investors have been pouring billions of dollars into research and development for artificial intelligence (AI), specifically in the healthcare industry. William T. Sugg describes AI as software that is capable of learning and analyzing information, even augmenting human activity. This translates into robot-assisted surgeries, administrative workflow assistance, virtual nursing assistants and more.
Although public and private sector investment is expected to surpass $6 billion dollars by 2021, AI applications are predicted to save $150 billion annually by 2026. These savings will steadily increase as time goes on, while completely reshaping the healthcare landscape.
William T. Sugg explains that AI applications could also greatly reduce the negative impacts caused by what is known as the “iron triangle” in healthcare. People deal with three connecting components of healthcare: access, affordability, and effectiveness. One of those three sides is typically a problem area, and when trying to fix one side, another suffers. With AI, however, many shortcuts can be created because the amount of required human labor will be reduced dramatically. Patients should be able to make positive changes without negatively impacting what they already have.
William T. Sugg notes that AI is already beginning its introduction into the healthcare industry in service operations, product development, human resources, supply chain management, marketing, sales, and more. These areas are mostly behind the scenes and out of the public eye. Further investment is mainly focused on three major categories: digitization, engagement, and diagnostics.
William T. Sugg is hopeful in regards to the future of AI and its great impact on patient care. With more support comes more availability to healthcare for all. This is especially important with the world’s quickly growing population and to those in rural areas.
About William T. Sugg
William T. Sugg of Valley County Health Systems has worked through almost every major crisis possible in a hospital setting, including deadly tornadoes, floods, fires, scandals and rebuilding the 17th most beautiful hospital in the United States. His leadership style is approachable, transparent, and people-centered. William T. Sugg believes in a strong teamwork culture that promotes respect, trust, commitment, and dedication to goals and