Artificial Intelligence: Intelligence applied to a system with the goal of mirroring human logic and decision-making. AI is utilized for the purpose of successful knowledge acquisition and application, which it prioritizes over accuracy. AI simulates intelligence (the application of knowledge). It is a combination of technologies, comprised of machine learning and predictive analytics. Machine Learning: An application of AI that allows a system to learn on it’s own. ML learns from data, and it aims to increase accuracy (success is a lesser concern). ML simulates knowledge. Source Data Mining: Unstructured data that is collected, often for the purposes of data analytics. Predictive Analytics: Data that has been collected is utilized to try and predict behavior/outcomes (often called Data Science). To analyze data, it is routed into a report, at which point humans or artificial intelligence apply multiple factors to make predictions about expected outcomes. Predictive Analytics often implies that a machine has performed the analysis and offered a prediction (rather than a human).How AI is Applied to Healthcare Technology AI is expected to grow, with annual spending on the advanced technology estimated to be more than $34 billion in 2025. But AI is not a solution in and of itself and works best when part of a broader technology solution. Because the term “artificial intelligence” often (mistakenly) conjures up images of autonomous beings, it’s necessary to point out that, on the contrary, the applications of AI are “narrow.” Current applications of AI for health plans include:
Fraud, waste and abuse solutions
Value-based care initiatives
Coordination of Benefits
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