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Increased efficiency through reduced manual work or higher-speed processes.For medtech companies, the main advantages of generative AI are as follows:

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It still entails models built on vast quantities of data, but it uses that information to generate new content such as text, media (video, images, speech), computer-aided design, and software code. Traditional AI sifts through historical data to identify patterns and insights. The common theme? All have strong potential to help medtech companies work smarter and faster-and ultimately create value for the companies ambitious enough to apply them. We identified more than 60 use cases for generative AI across the entire medtech value chain, and ranked them based on their impact and speed of implementation to identify the biggest near-term opportunities. For that reason, leaders must seize the initiative.īy Daniel Schroer, Steffen Simon, and Gunnar Trommerįor that reason, medtech companies should begin implementing the technology in various parts of their business. Generative AI provides clear opportunities for medtech companies to transform how they operate.

To capitalize on generative AI, companies should identify and pilot priority use cases, incorporate the technology into the broader enterprise strategy, and put the right policies and people in place.

Longer-term, companies can start to incorporate generative AI into products and services, improving performance and leading to better patient outcomes.

Potential applications span the entire value chain, from R&D and software development to operations, marketing and sales, postsales customer support, and corporate functions.

To help leaders make sense of the options, we recently identified more than 60 use cases for generative AI in medtech. In medtech, the technology can lead to more efficient processes, personalized customer interactions, greater innovation, and increased value. Generative AI is projected to grow faster in health care than any other sector.

Technology, Media, and Telecommunications.

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