Artificial intelligence and big data are shaping up to have the biggest impact on the healthcare industry, and most of that money will be coming from venture capital funds, according to a new survey of digital health executives and investors.
Silicon Valley Bank surveyed 122 founders, executives and investors in health technology, asking about the biggest opportunities and threats for the industry in the next year. The survey was conducted during Silicon Valley Bank’s HealthTech NYC event and was attended by such companies and investment firms as Celmatix, Aledad and Andreesen Horowitz. Almost half of respondents say big data, followed by artificial intelligence (35 percent) are the most promising technologies in terms of impact on investment.
“Big data has been integral to our work at Celmatix. It has empowered physicians to be able to counsel women about their chances of having a baby, based on their relevant personal metrics, and not just their age,” Dr. Piraye Yurttas Beim, Chief Executive Officer of Celmatix said in a statement. “It’s an exciting time to be in a field where the pace of innovation continues to increase as both physicians and patients realize the potential of big data and personalized medicine."
Healthcare delivery and IT is expected to be the biggest growth sector in 2017, with 45 percent putting this category ahead of mobile health apps (8 percent) and wearables (7 percent).
Venture capital will offer the most funding, nearly 62 percent of survey respondents said, with the next closest expected to be corporate ventures.
While the industry is innovating quickly, adoption of such advancements as digital tools, applications and connected devices still remains the biggest challenge to the industry, with 37 percent of respondents saying the consumer, patient and client engagement is a significant hurdle, ahead of regulations.