What is the advantage of the new AI tools?
In order to improve the patient healthcare experience, Accenture (ACN) has launched Ella and Ethan, two virtual assistant bots embedded with artificial intelligence (or AI) technology. The main purpose of the new platform is to reduce the communication gaps among life sciences companies, patients, and healthcare providers.
Both Ella and Ethan belong to the Patient Engagement Support solution in the Accenture Intelligent Patient platform. The newly launched technology is also supported by Salesforce’s Health Cloud and Einstein AI as well as Amazon’s (AMZN) Alexa. Ella offers patients customized services from medication reminders to scheduling doctor’s appointments. On the other hand, Ethan acts as a centralized support by keeping track of patient health and connecting with clinics and hospitals to offer better management.
Growing healthcare AI market
The healthcare AI market seems to be showing strong growth momentum driven by the increased use of machine learning applications. IBM’s (IBM) Watson Health AI continues to gain huge traction across the healthcare industry. The Watson Health for Oncology is now available in more than 150 hospitals and health organizations.
As per the Accenture report, the health AI market is expected to grow at a CAGR of around 40% to $6.6 billion between 2014 and 2021. Thus, to gain significant market traction in the health AI space, Accenture continues to invest in developing new technology. The higher adoption of the AI platform in the healthcare field may drive the company’s business going forward. The graph above shows the revenue growth of Accenture in the last five quarters.