Microsoft (NASDAQ: MSFT) has formed an alliance, the Artificial Intelligence Industry Innovation Coalition (“AI3C”), with major health and life science organizations in the United States. The tech giant’s aim is to create and track new artificial intelligence innovations as the use of AI in healthcare grows.
These organizations include the University of Virginia, the University of California-San Diego, Providence, Plug and Play, Novant Health, Intermountain Healthcare, Duke Health, Cleveland Clinic and the Brookings Institution. A survey conducted by Optum revealed that a significant number of healthcare executives plan to adopt or have adopted AI strategies.
Senior executives from these organizations that serve on AI3C’s board will help design AI tools and follow the use of AI in the industry, with the objective being to address the socioeconomic and business barriers that hinder the adoption of these technologies on a large scale. In a statement, the managing director and VP of the research and incubations divisions at Microsoft, Ashley Llorens, stated that satisfying the need for new health technologies would require partners from different sectors to come together; she also noted that with perspectives from the research community and healthcare professionals as well as AI practitioners, the AI3C could lead projects that speed up the translation of frontier technologies to implementation.
The board will also provide education on the responsible use of AI and recommendations on the use of AI as well as on how technologies can be used to advance workforce transformation and health equity. The release notes that members of the partnership will host events and meetings quarterly to share the progress they’ve made.
Intermountain Healthcare’s area VP for analytics services, Greg Nelson, stated that he believed the coalition would create a space for healthcare leaders to have dialogues for the advancement of AI-enabled care process models for communities and patients alike. He added that the coming together of these top organizations would influence the delivery science to help translate best practice and technical capability into operational and clinical impact.
The coalition’s formation comes after Microsoft established the National Coalition for Artificial Intelligence in Financial services in December 2020. In addition to this, the tech giant introduced a five-year program called AI for Health in January 2020, allocating $40 million for partnerships using AI for discoveries and medical research. AI for Health is part of Microsoft’s $165 million initiative, AI for Good, which was created to address accessibility and humanitarian issues and concerns like climate change.
The coming together of these tech giants coincides with a growing number of companies like Nemaura Medical Inc. (NASDAQ: NMRD) utilizing artificial intelligence technology to advance their position in the evolving healthcare industry. Nemaura’s metabolic health program MiBoKo, for example, utilizes a non-invasive glucose sensor along with an AI based mobile application.
NOTE TO INVESTORS: The latest news and updates relating to Nemaura Medical Inc. (NASDAQ: NMRD) are available in the company’s newsroom at https://ibn.fm/NMRD
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