Watson to help community hospital combat cancer
IBM (IBM) has begun the deeper deployment of Watson to help fight cancer. Last month, the company announced a partnership with Jupiter Medical Center in Florida to enable oncologists to tap into Watson’s cancer knowledge to make the best cancer treatment decisions.
The deal with Jupiter marked the first step in bringing Watson to the fight against cancer at a US (SPY) community health facility.
Cost of cancer care
Cancer is a costly disease, and hospitals and patients are always on the lookout for the most effective treatments. The cost of cancer care in the United States was $157 billion in 2010, and it could rise to $174 billion by 2020, according to estimates by the National Cancer Institute.
Personalized cancer treatment
With Watson, the doctors at Jupiter can personalize treatments for cancer patients and also seek help in terms of administering cancer drugs. Watson will also help oncologists at the community hospital keep up with cancer treatment discoveries.
Driving revenue growth
As for IBM, the deal with Jupiter is one of the many efforts the company is making to maximize the revenue stream from its Watson cognitive computing technology, helping it to grow its top line. IBM’s revenue of $79.9 billion in 2016 fell from $81.7 billion in 2015 and $92.8 billion in 2014.
IBM has been struggling with a lack of growth in its core operations amid tough competition from Oracle (ORCL), Hewlett-Packard Enterprise (HPE), and Microsoft (MSFT) in terms of traditional enterprise IT (information technology) spending.
However, the company is banking on its newer businesses such as analytics, mobility, and cloud computing, which it calls its Strategic Imperatives, to drive future growth. IBM has partnered with Apple (AAPL) to pursue enterprise mobility budgets.