We all know that artificial intelligence and machine learning are becoming a larger part of our lives. It exists in everything from home appliances to the cars that we drive, and now, it is rapidly advancing in our healthcare technology as well. A Fortune Business Insights report projects the AI in Healthcare market to grow to a value of $164 billion by 2029, growing at a staggering CAGR of 42.4%.
While robotic surgeries from companies like Intuitive Surgical (NASDAQ:ISRG) and devices from companies like Medtronic plc (NYSE:MDT) are at the forefront of this industry, there are other smaller companies as well. Smaller companies like Asensus Surgical (NYSEAMERICAN:ASXC) and Ludwig Enterprises (OTC:LUDG) are making a name for themselves with innovative technologies.
Ludwig is an interesting company that recently changed its focus back to researching healthcare technology projects. It is using artificial intelligence to analyze large sets of patient data in hopes of developing a future treatment for chronic inflammation. Data analysis through machine learning might not be as interesting as robotic surgeries, but a potential treatment could save millions of lives and billions of dollars for the healthcare system.
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