AI tops health sector investment priorities

It is followed by IoT, AR, and VR.

Executives in payer and provider health services are prioritising artificial intelligence (AI) for investment, according to a recent PwC survey. 

The survey found that AI is the top emerging technology for the next year, followed by the Internet of Things (IoT), augmented reality (AR), and virtual reality (VR). Other technologies in the “Essential Eight,” including advanced robotics, blockchain, quantum computing, and neural interfaces, are also part of their plans.

AI is a major focus, with 77% of executives citing it as a key investment priority. AI is expected to address administrative challenges and transform business models by improving patient diagnosis, treatment, and care management. In the past three years, healthcare organisations have increasingly used AI to enhance efficiency, accuracy, and patient outcomes. Future applications of AI include predictive analytics and precision medicine.

IoT is also a significant priority, with 43% of executives naming it as a top investment area. IoT's role in healthcare includes improving interoperability, supporting social determinants of health, and providing real-time data through wearables and remote monitoring systems. This technology is expected to advance preventive care, remote diagnostics, and personalised medicine.

Moreover, augmented and virtual reality are also gaining attention, with 30% of executives prioritising AR and 29% prioritising VR. These technologies are set to improve medical training, patient education, and surgical preparation. Despite a slowdown in telehealth growth since the pandemic, it is expected to continue growing.

In the next three years, VR and AR are anticipated to become more integrated into healthcare practices, enhancing training and patient engagement. 

Healthcare organisations are advised to embrace a culture of innovation, build cross-functional teams, redesign business models, and empower providers through training and support.