Isabel Losantos, senior consultant - Design Assurance, at Cambridge Consultants and Joe Corrigan, head of Medical Technology examine the potential AI represents in life sciences and the regulatory changes it brings.
AI
Digital health is growing, but compared to the growth in other digital applications, growth is relatively slow, with fewer than 100 approved products placed on the market in the last five years. Many of these are limited to decision support technologies rather than being true diagnostics, not fulfilling their potential. So why is the market moving slowly?
Part of the reason is that Artificial Intelligence/Machine Learning (AI/ML) systems to be used in the medical field are not just another software product to be marketed. Their application can bring lifelong benefits to their users, but poorly thought through implementation can bring harm as well, so caregivers, developers and regulators have moved with caution.