Artificial intelligence (AI) is a prominent theme in every industry, but especially within the medical field. AI is advancing quickly and is helping to improve several areas of healthcare. Most recently, AI has been making waves in ophthalmology.
The annual conference of the Association for Research in Vision and Ophthalmology is taking place on 23–27 April 2023, at which Verena Health intends to announce the development of Qdata Geographic Atrophy. The offering provides a comprehensive clinical view of real-world data from almost 350,000 de-identified geographic atrophy (GA) patients, allowing Verena Health to identify GA diagnoses from electronic health records and images for research. As Verena Health examines more ophthalmic images over the coming year, the number of GA patients will continue to grow.
Cloud-based ophthalmic image analysis platform provider Voxeleron has announced the results of a study demonstrating its Orion platform, showing that it delivers higher accuracies and reduced variability compared to original equipment manufacturer software from other companies. The study showed that Orion could analyze optical coherence tomography images from other manufacturers, showed greater accuracy with reduced variability, and achieved both within a more streamlined workflow.
AI-based diagnostic and screening tools provider Toku has recently received $8m in Series A preferred financing to accelerate the development of its AI-powered technologies for retinal imaging. Toku plans to use the financing to commercialise AI-powered technologies that are used to analyse retinal images for biometric markers associated with overall health and risk of cardiovascular events, stroke, and diabetes.
There is so much potential for AI in healthcare, and companies are starting to realise where to invest their time and money. The use of AI in ophthalmology is important for so many reasons and could be a game changer for the medical industry.
According to GlobalData’s forecasts, the total AI market will be worth $383.3bn in 2030, up from $81.3bn in 2022, having grown at a compound annual growth rate (CAGR) of 21.4%. As it stands, North America and Asia-Pacific are the leading AI markets, and regulations will likely hold back AI adoption in Western Europe.
Companies all over the globe and in different industries view AI as a disruptive theme. A recent GlobalData poll shows that 49% of respondents believe that AI will significantly disrupt their industry, and 25% of respondents believe that the disruption caused by AI has already begun.