Written by 10:03 am AI, Discussions, Generative AI

– Leveraging Generative AI to Potentially Lower Health Care Expenses

/PRNewswire/ — Key takeaways Fifty-three percent of consumers surveyed believe Generative AI …

A recent survey indicates that consumers are increasingly utilizing conceptual AI for health-related purposes and expressing optimism about its potential.

  • A survey reveals that 53 percent of consumers believe that conceptual AI could enhance healthcare accessibility.
  • Approximately 46 percent of respondents view Generative AI as a tool that could potentially reduce healthcare costs.
  • The data generated by Generative AI was deemed highly reliable or very trustworthy by 69 percent of participants.
  • A significant 71 percent of users of relational AI believe that it has revolutionized healthcare delivery.

Significance of the Findings: Amid concerns about escalating expenses, high interest rates, inflation, and physician burnout, consumers and healthcare institutions are embracing conceptual AI as a promising solution. Conceptual AI, a form of artificial intelligence, generates unique information previously only attainable through human expertise across various mediums such as text, images, audio, code, voice, and video. Over half of the survey respondents (53%) anticipate that Generative AI could enhance healthcare accessibility, while 4% believe it could drive down costs. These insights stem from a recent Deloitte study that surveyed 2,014 U.S. adults, shedding light on consumer perceptions and behaviors regarding AI in healthcare. Consumers are increasingly turning to Generative AI for medical support, with health being a primary motivator. Out of the survey participants, 48% reported using conceptual AI, and 84% were familiar with its applications. Notably, consumers place a high level of trust in Generative AI for healthcare, with 69% rating the data as very trustworthy or extremely trustworthy. A notable finding from the study is that one in five users leveraged Generative AI to gain insights into their health conditions. These results underscore consumers’ belief that conceptual AI could address cost concerns, improve accessibility, and enhance overall well-being in the face of escalating healthcare expenses. Consumer feedback provides valuable insights into the key challenges surrounding the adoption of AI in healthcare, aiding in the development of strategies that align with the needs of providers, payers, and innovators to deliver optimal outcomes while safeguarding consumer interests. Consumers are receptive to healthcare providers utilizing Generative AI to offer additional insights into their health conditions, such as treatment options and lab result interpretations. However, there is a level of discomfort among consumers regarding providers using Generative AI for critical healthcare decisions like diagnosis, triage, and treatment planning. The research also highlights that 4 out of 5 consumers consider it important for their healthcare providers to disclose the use of Generative AI in their care. Consumer preferences regarding Generative AI usage could prompt healthcare organizations to establish transparent processes and implement regulatory measures and patient protection protocols that address consumer concerns. The emergence of “generative IoT” represents a significant advancement in the evolving landscape of life sciences and healthcare organizations. Businesses must demonstrate leadership and establish robust platforms that can sustainably support future well-being initiatives, leveraging the immense potential of AI to enhance healthcare experiences, accessibility, and financial performance. According to Dr. Bill Fera, Director of Generative AI at Deloitte Consulting LLP, Deloitte remains at the forefront of AI innovation, expanding its AI capabilities and solutions following the launch of its Generative AI practice in 2023. Deloitte offers a comprehensive range of tailored AI services to support clients at various stages of their transformation journey, from crafting enterprise AI strategies to implementing business-focused Generative AI solutions across domains like Cloud, Cyber, and Strategy & Analytics. By integrating Generative AI applications and capabilities throughout their operations, Deloitte aims to boost productivity and deepen domain expertise to drive significant client impact. Leveraging its industry-specific knowledge and data insights, Deloitte is rolling out purpose-built Large Language Models (LLMs) and chatbots to empower specialized teams across different sectors. These applications and productivity tools are designed to deliver industry-specific content within Deloitte’s Trustworthy AI™ framework, managing AI-related risks and enhancing user trust and confidence. Additionally, Deloitte is investing in enhancing AI proficiency and nurturing the next generation of AI talent through initiatives like the AI Academy, part of the Deloitte Technology Academy (DTA) program. The DTA program aims to equip over 120,000 professionals with cutting-edge technology skills, including AI, Cloud, and Cyber, as part of a $1.4 billion investment in technology learning and development initiatives to bolster expertise in key technology domains, including AI, to address critical industry challenges. About Deloitte: Deloitte is a leading provider of assessment, consulting, tax, and advisory services to nearly 90% of the Fortune 500® companies and over 8,500 U.S.-based private enterprises, including some of the world’s most renowned brands. Through fostering trust and confidence in a more equitable society, Deloitte strives to make a meaningful impact. As clients navigate their future trajectories across diverse industries, Deloitte offers a unique blend of business acumen, technological proficiency, and strategic technology partnerships. Deloitte is proud to be part of the largest global network of professional services, serving critical markets for its clients. With a network of member firms boasting over 175 years of experience across 150+ countries and territories, Deloitte’s nearly 457,000 professionals collaborate to drive impactful outcomes. Explore how Deloitte’s professionals unite to make a difference at www.deloitte.com. Deloitte refers to Deloitte & Touche LLP (“DTTL”), a UK private company limited by guarantee, its network of member firms, and their affiliated entities. Each DTTL member firm operates as a distinct and independent legal entity. Deloitte Global, also known as DTTL, does not provide services to clients. In the United States, Deloitte refers to one or more DTTL US member firms, their affiliated entities operating under the “Deloitte” name in the U.S., and their respective subsidiaries. Some services may not be available to clients due to public accounting regulations and restrictions.

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Last modified: November 16, 2023
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