AI in Healthcare: The Untold Story of Efficiency and Cost Reduction

Challenges in Health Care Economics and Artificial Intelligence

The healthcare industry is often overlooked in discussions about the impact of artificial intelligence (AI) on various sectors of the economy. However, it is clear that a sector that accounts for nearly one fifth of the economy cannot avoid the disruptive effects of AI, driven by efficiency and cost considerations.

A new book titled “The Economics of Artificial Intelligence: Health Care Challenges,” edited by Ajay Agrawal, Joshua Gans, Avi Goldfarb, and Catherine Tucker, brings together experts from diverse fields such as health economics, medicine, philosophy, law, public health, and machine learning to examine the primary obstacles to the adoption of AI in healthcare. Through original research papers and comprehensive responses, the contributors identify barriers in four key areas: incentives, management, data availability, and regulation.

Despite these challenges, the contributors also highlight the potential for AI to enhance outcomes and reduce costs in the healthcare sector. In order to shape policies that will guide the evolution of the healthcare system, it is crucial to have a thorough understanding of both the benefits and obstacles associated with the adoption of AI. The insights provided in this book will prove invaluable in navigating the complex landscape of AI integration into healthcare.

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