Key Takeaways
- Alphabet and Microsoft introduced new AI Initiatives to help organizations in the health care industry improve their use of data and access to information.
- Tools from Alphabet’s Google could let doctors and other providers access patient data more easily.
- Microsoft’s plan will give health organizations the ability to collect large amounts of information from doctors and hospitals.
Microsoft (MSFT) and Alphabet’s (GOOG) Google announced new artificial intelligence (AI) initiatives aimed at helping give health care workers easier access to important information.
The Google Cloud project will provide doctors and other providers with the ability to find patient data such as tests and prescription medicines in one place.
It will also be able to assist in handling clerical tasks that Google noted often lead to extra work and “burnout” among those in the medical profession.
Google said that while it’s in the early stages of using AI in the medical field, “we’re already seeing the potential for better healthcare experiences, and accelerated development in life sciences” through data and generative AI.
Microsoft’s system is aimed at providing health care organizations the ability to efficiently gather the troves of data collected by doctors and hospitals that are in different locations.
The company indicated that this could eliminate the “time consuming process” health care workers go through to find the information.
Microsoft said unlocking the power of data is key to an organization’s success, and that’s especially true in health care, “where data has the potential to do much good.”
Shares of Alphabet were 0.3% lower and Microsoft shares were down 0.4% on Tuesday, but remained higher for the year. Microsoft shares were up over 37% year-to-date, while Alphabet shares were close to 55% higher year-to-date.
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