Artificial Intelligence will make health care more predictive, precise and accessible, and radically transform today’s hospital into tomorrow’s health enterprise, according to Frans van Houten, CEO of Royal Philips.
“At some point in time we all may get to the hospital’s emergency room and then you want to get the data around that patient as fast as possible and then determine what needs to be done,” he told FOX Business' Maria Bartiromo on Tuesday.
Royal Philips has evolved from an electronics giant to a leader in patient health care technology, placing its biggest bets on the future of healthcare technology.
According to van Houten, using artificial intelligence in health care could actually make medicine more human by giving doctors more time to interact with their patients.
“I don’t think it’s going to replace doctors on a large scale,” he said.
With increased computing power, new storage and devices, the amount of healthcare data captured inside a hospital today has far outpaced our ability to analyze it. There is a growing concern that only a fraction of this data is being used to improve the quality and efficiency of care.
“Health care is about access, it’s about affordability, it’s about precision care for the individual," said van Houten. "As we have a growing and aging population with more chronic disease, there aren’t even enough workers to support the world’s health challenges.”