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However, the industry lags behind in the adoption of digital technologies.
A McKinsey report shows that the healthcare industry generates about 30% of the world's data and is expected to grow at a compound annual growth rate of 36% by 2025.
Despite its vast amounts of data, the healthcare industry has been slower than other industries in adopting digital technologies, especially artificial intelligence (AI).
McKinsey said data is often scattered across multiple systems, making it difficult to fully utilize it.
“While the healthcare industry has used some structured data for artificial intelligence, it has had limited success with unstructured data such as call records,” the report states.
Recent developments in generative artificial intelligence make it possible to leverage previously unavailable data, enabling a wider range of artificial intelligence to learn customized behavioral patterns.
“As technology evolves at lightning speed, it has the ability to help optimize the healthcare consumer journey,” it added.
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