Thousands of financial investors and Wall Street pundits advise people daily about what economic trends are coming, what stocks are hot and what is on the upswing.
Those same investors and banks benefit from financial success by using a bevy of information and data analysis to predict financial risks and steer their clients to recommended strategies.
But while big data and research have been the forerunners to competent investment advice, the healthcare industry is seemingly jumping into the mix and using data to predict a person’s future health.
In its simplest terms, predictive medicine relies on the study and analysis of large quantities of data to determine a patient’s future health and the likelihood they may get a disease.
A Harvard Business Review report lauded the advent of predictive medicine when it said, “Predictive tools are helping providers — both doctors’ groups and hospitals — assess patients’ risk of contracting a whole host of diseases and conditions. For the volume-to-value paradigm shift in healthcare, predictive analytics, though rarely visible, is the essential enabler.”
As with all healthcare options, predictive healthcare costs are a concern. Most believe that in being predictive and not in actual care, keeping people healthy through preventive measures should have a greater return on investment.
Companies like Domo Inc. DOMO, Myriad Genetics Inc. MYGN, Remedy Health and now Know Labs Inc. KNWN report devoting research and resources to artificial intelligence (AI) efforts in preventive healthcare.
Using AI To Predict Health Trends?
Predictive analytics are those that employ intricate statistical algorithms combined with internal and external data to forecast future trends. Businesses' most common use is to predict inventory loads, delivery times, sales numbers and reduced operational costs. These analytics, combined with AI, give these companies more accurate and timely future assessments.
Know Labs Believes It Is On The Cusp Of Disruptive Medical Diagnostics
In medicine, AI is employed in predictive analytics to explore patient datasets and forecast the likelihood of certain diseases and disorders. According to Forbes magazine, some studies have proven that AI can detect traditionally difficult to identify or diagnose conditions, including rare hereditary and neurodegenerative diseases. These analytics also study white blood cells, another part of the immune system protecting your body from infection. Those cells circulate through the bloodstream and tissues to respond to injury or illness by attacking any unknown organisms that enter your body.
Know Labs, an emerging player in noninvasive medical diagnostics, says that its Bio-RFID could potentially identify more than 100 analytes, such as alcohol, metabolized drugs, vitamins, minerals and hormones. Its predictive AI focus is collecting millions of data points per day, using diagnostic technology that casts radio waves to identify and measure what goes on in the body.
“We have successfully patented the process to accurately and noninvasively collect data, build a database from this data and process it with AI algorithms,” Know Labs CEO Phil Bosua said. “All of these parts are critical to launching a commercial diagnostic platform, and now we control them. This further demonstrates how Know Labs and our technology have the potential to disrupt the medical diagnostic industry and potentially many others.”
Blood glucose is the company’s current priority, applying Bio-RFID to potentially improve how 2 billion people with diabetes and prediabetes manage their conditions. To do this, Know Labs reports it is developing an AI predictive medicine approach that could eventually help the nearly 500 million people who live with Type 1 and 2 diabetes and 1.5 billion suffering from prediabetes.
For more information on Know Labs, visit www.knowlabs.co/
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