GE Healthcare Technologies Inc. (NYSE:GEHC) has recently utilized technology from NVIDIA Corporation (NASDAQ:NVDA) to develop its latest research model, SonoSAMTrack, as part of its ongoing artificial intelligence (AI) collaboration with NVDA.
SonoSAMTrack integrates a foundational model called SonoSAM, designed for segmenting objects on ultrasound images, contributing to the advancement of GE HealthCare’s AI capabilities and bolstering its business.
The Collaboration’s Significance
According to GE HealthCare, integrating AI into healthcare systems is becoming increasingly crucial for improving patient care, operational efficiencies, and decision-making. Traditional methods often entail model retraining to accommodate diverse patient populations and hospital settings, leading to increased costs, complexity, and the need for specialized personnel. However, foundation models offer a more efficient approach, functioning as human-in-the-loop AI systems and garnering significant attention.
GE HealthCare aims to accelerate progress in medical imaging by introducing foundational AI technologies, empowering data scientists to expedite AI application development and enhance patient care. This approach enables more efficient adaptation to new tasks and medical imaging modalities, requiring fewer labeled data compared to traditional model retraining methods, which is particularly significant in the healthcare domain where obtaining data is time-consuming and costly.
NVIDIA’s management anticipates that combining its accelerated computing and AI technology stack with GE HealthCare’s medical imaging expertise will enhance patient care by facilitating quicker and more accurate ultrasound diagnostics.
Industry Outlook
According to a report by Precedence Research, the global AI in the healthcare market was valued at $15.1 billion in 2022 and is projected to exceed $187.95 billion by 2030, driven by factors such as the increasing adoption of digital technologies in healthcare and the expanding patient pool at hospitals. Given this market potential, the partnership’s latest development is expected to benefit GE HealthCare’s global business significantly.
Recent AI Developments
GE HealthCare has announced plans to advance its long-term AI partnership with Mass General Brigham’s commercial AI business, focusing on integrating medical imaging foundation models into AI research work with an emphasis on responsible AI practices.
The company also showcased its portfolio of AI-enabled medical devices and digital solutions at the Health Information and Management Systems Society Global Health Conference and Exhibition in Orlando, FL.
Additionally, GE HealthCare published data from a study on AI models, demonstrating their effectiveness in predicting the efficacy and toxicity of cancer immunotherapy.
Comparison with Peers
Another notable player in the MedTech industry, Hologic, Inc. (HOLX), is strengthening its position in AI, recently unveiling new research and obtaining FDA clearance for its Genius Digital Diagnostics System with the Genius Cervical AI algorithm.
Johnson & Johnson MedTech is also accelerating AI for surgery through a partnership with NVIDIA. It aims to deploy AI across its surgical technologies portfolio to enable fast, secure, and real-time AI deployment within its digital surgery ecosystem.
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