AI MedTech

Will AI and ML powered solutions operate on a utility mindset?

Released on July 24, 2019 | Written by Joe Mullings of The Mullings Group

Will an Artificial Intelligence (AI) and Machine Learning (ML) utility type cloud-based platform drive medtech forward over the next decade?

Smaller emerging tech companies will likely adopt this before the large strategics. This is based on their ego and “needs to be made here” mentality. Eventually, the large strategics will adopt the open architecture philosophy, and realize that they should put resources into the real estate they own…the connection to the patient.

Specialty companies will emerge with a basic cloud-based solution and be happy to “collect the tolls” in the market, providing the basic engine of an AI or ML platform.

The last mile is where the company’s engineers will customize the critical interface.

Computing power, machines and distribution will be required components of the solution but are not the core competencies. Therefore, emerging tech does not need to spend their time, effort or funds on those commodities.

Like the classic manufacturing of medical devices – processes and services such as extrusion, injection- molding, sub-assembly, cabling, and other specialty processes (that are critical to the final product), are co-sourced with organizations that offer those types of expertise.

This week Microsoft invested $1billion in OpenAI, a non-profit organization that conducts research in the field of AI. OpenAI aims to help promote and develop “friendly AI” in ways that benefit humanity as a whole. This investment from Microsoft allows a partnership with Azure’s cloud platform to further develop AI technologies.

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Written by

The Mullings Group