Transforming Healthcare: AI's Impact on the Industry

0:00Google Cloud recently announced a partnership with the Mayo Clinic in AI and bringing health care enterprise search capabilities to essentially increase their efficiency and impact. And what this actually looks like is a software or a platform that Google has been using for a while or has been has put out there, which is called the generative AI app builder. And essentially what this is, it's a platform that organizations can develop a search ecosystem with really advanced conversational capabilities. And all of this is powered by Google's foundation models. And they're backed by a lot of years of just Google's overall research and development efforts.

0:57Specifically, in my opinion, I believe that they've been able to rely heavily on Google's kind of search experience from their search engine and use a lot of those algorithms and a lot of the AI that they've been using in their search algorithm and bringing that to companies and enterprises. So what this what this product actually looks like I've kind of been looking over a few demos and essentially what this thing can do is you can input all of your company's data so you can do internal reporting and you can you can essentially create a whole bunch of of content sources and when you do a search inside of your own you know special search portal you can choose which sources you want it to search from, and then it uses and you search in, you know, normal English, like you would a Google search or like you would on ChatGPT.

1:47And then it comes up with an AI written response, which has which, you know, cites the different documents that it's getting its response from. And it also has kind of an AI summary of their response. So for example, they give an example where someone's asking, you know, what industries are most impacted by microchip supply shortages. And then in the search, you know, it came up with a bunch of different things. But it was basing that off of you, there's a bunch of toggles where you can turn on like, I want to, I want to source this off of internal for firm reporting. So from within our own company, and the data we have inside of our company, I want to, you know, maybe your company has premium subscriptions to some financial journals, you can have those synced up and linked.

2:33So like if you have, you know, Bloomberg terminal, you could have this thing accessing your Bloomberg terminal and searching that to get answers. And you can also have it synced up. So it's looking at market exchange data feeds, SEC filings and 10k documents. and so a lot of different areas where essentially it's all of your company's internal data can be searched and you can get information from that but then you can also pick select other sources that you would like to integrate as well which I think is one of the reasons why this is powerful because there is a handful of tools right now that allow you to search your internal documents at your company but this one is I think extra powerful because it allows you to do that in addition to a number of other sources that you want.

3:24And I think this is really a good play for Google because this is obviously something they've excelled at. This is their business, search is their business. And so by making it where you can kind of do these different searches within your company, I think it's a great product. So back to the announcement by the Mayo Clinic that they're going to be integrating this. Based off of my explanation of the platform, you can see that this is going to be really powerful in healthcare as researchers and clinicians are trying to find answers about different diseases and drugs, people's different symptoms, and being able to look at not just, you know, what's publicly available or what might be available in medical journals, you know, maybe there's these new symptoms for something they're trying to figure out, a very rare disease, and they can search a lot of medical journals.

4:09But in addition, if they have internal documents and internal information about, you know, different diseases, and maybe data they've internally collected, right, like this is flu season, or this is a season where x, y, and z disease are more popular, they can cross reference and get a lot of really interesting data. So I think in the context of healthcare, this is really revolutionary. Clinical professionals often rely really heavily on data from a really wide range of uses. So that can be, you know, looking at patient records and medical histories in order to really understand the patient's care journey and using that to really sort through multiple databases and academic literature to find the latest information regarding different treatment strategies, symptoms, management, and therapies.

4:54And I think in healthcare, this is really important and this is really relevant because not every single patient's healthcare is going to be treated the exact same way. I think looking at beyond just what someone might recommend as a, you know, let's say a drug for a certain disease, you have to look at elements like the medical data that goes along with the patient so you can make really personalized recommendations for their health care. So in an exclusive interview with Forbes, Thomas Kurian, who's a CEO and is over at Google Cloud, explains that we see AI tools and search helping to improve healthcare organizations efficiency in a variety of ways, administrative and operational tasks, clinicians and care team support, patient engagement and research and development.

5:45So across those four different categories, he says that the overall kind of main vision is to allow people to ask questions and understand the intent of users really well, and also to refine the way information is collected and presented. So I think Google's ability to help in the healthcare profession with AI is actually going to be pretty big. And this partnership with the Mayo Clinic, I think is pretty, is a pretty big milestone. So the Mayo Clinic, the Mayo Clinic, in case you didn't know, is actually one of the world's biggest research institutions. So it's really renowned, It's really known for its kind of broad clinical expertise.

6:21It has a lot of innovation that have come out as far as therapies and a lot of different research developments. And the system cares for around 1.3 million people annually that go into one of their hospitals or one of the facilities. So a very big facility that is now going to be implementing AI in quite a big way. So the chief information officer over at Mayo, his name is Chris Ross. And he commenting on this said, we have been prepared to take on new artificial intelligence technologies for a long time and generative AI and the gen app builder is remarkable because of the way it democratizes AI.

7:01He also said that previously you could do great things with AI, but you would need to be a data scientist or you need to know how to write a script, but not anymore. These tools allow anyone with a sense of judgment and the ability to create well-framed queries to get really remarkable results. results. So this really does democratize the ease of use that he's talking about here. The tool was specifically designed in a way to enable developers to build apps without extensive coding and machine learning experience. But he also commented on, you know, this partnership between Google and them and explained how kind of this technology company, which is Google, has really helped the Mayo Clinic in a variety of ways, including transitioning the majority of its data into the cloud, which obviously is a big step, especially when they're now focused on being able to query all that data.

7:53It's really important that that is in the cloud. Google has also helped the Mayo Clinic to achieve better interoperability with the industry-renowned healthcare data engine platform, which is powering Mayo's advanced search initiatives. Overall, I think that we're going to see a lot of advancements in AI and healthcare. We're going to see a lot of innovation there because it is an area that really can positively impact people in a very large way. Obviously, the healthcare industry is absolutely massive. And everyone, whether at one time or another, whether it's you or someone you love is going to go into a hospital, go into a healthcare facility for one reason or another.

8:29And I think that this is a really great way for us to help to make those people's lives better, more comfortable. And just to advance the overall quality of life for humans on earth is through really integrating AI in powerful ways with the healthcare industry. So this is going to be an area that is really interesting to continue following into the future.