This is the first article in a series of three where we zoom in on the Healthcare, Retail, and Transportation sector, and share insights on the sectors growing the most and which companies are leading in terms of investments in AI.
In this article, we will explore healthcare and how investments in AI are shaping the sector.
Insights & Key Numbers: Healthcare Sector
Healthcare has undergone a reckoning in the context of the pandemic, but it’s also undergoing a reckoning with the rise of AI. From natural language processing for classifying clinical documentation to medical algorithms for decision-making, AI applications in healthcare are on the rise as a tool to solve problems, drive innovation and create adaptive environments that can overcome crises.
Healthcare in AI has recently seen rapid growth, and amid a highly competitive hiring landscape, which healthcare companies are investing the most in AI? How is the growth of AI teams in healthcare reflecting what’s on the horizon?
Key numbers globally in the healthcare sector
- Companies in the Healthcare sector have an average of 65 AI team members.
- In terms of %-growth, healthcare companies are growing 43% on average (The average includes companies that didn’t see any change or saw a decrease in total team size).
- Out of the 463 companies studied, 238 companies in the healthcare sector have an initial AI team size above 20.
What CVS, Optum, and J&J all have in common for AI in healthcare
This time we are seeing seven companies from a diverse set of industries keeping their position in the top 4% among the companies studied:
Among the seven companies featured, CVS Health and Optum have sustained their position and thus made it to the Top 100 Fastest-Growing AI Teams for the second consecutive month.
Together with Johnson & Johnson, Optum and CVS are leading the pack in staffing their AI teams, hiring an average of 265 people to their AI team over the past three months.
Companies ranking in the top 10 have, in general, large AI team sizes for several reasons: Growing datasets of patient health-related digital information, increasing demand for personalized medicine, and the rising demand for reducing care expenses are some of the major driving forces of the market growth.
The Future of Healthcare
The exceptional growth these companies are undergoing not only shows that these companies are likely to “win” AI in the long run but emulates well what the healthcare sector is forecasted to grow.
According to recent research, the global artificial intelligence in healthcare market size is expected to hit around US$ 187.95 billion by 2030 and grow at a CAGR of 37% from 2022 to 2030.
Throwback: The Fastest-Growing AI Teams
In retrospect, since our first release of the Top 100 Fastest-Growing AI Teams, we have seen companies from diverse industries making it to the top 100 list. More than 2,500 companies are part of the study and come from a variety of industries/sectors, including:
- Technology
- Finance, Insurance, Services
- Healthcare
- Transportation
- Retail & CPG
- Resources, Agriculture, Utilities
- Other
You can see the companies that made it to the list in the latest version of the Top 100 Fastest-Growing AI Teams.
Our first study, released in April 2022, was featured in Forbes Magazine and Datanami. You can read the exclusive insights here:
Forbes: Top 100 Fastest-Growing AI Teams: Key Players, Exclusive Insights
Datanami: And the 100 Fastest-Growing AI Teams Are….