AI making ‘very tangible contributions’ to healthcare industry: Philips CEO

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The head of Philips NV, the Dutch multinational innovation company that has recently shifted its focus toward healthcare technology, says his firm’s focus on incorporating artificial intelligence into its products is leading to positive change in the healthcare industry.

Philips' new CEO Roy Jakobs says he's focused on 'building confidence' with consumers following a major recall of its CPAP machines.

“For example… in Canada, we have wait times for people that need an image a scan. We have developed a smart-speed algorithm that actually increases the image speed by three times, which means that you can double the amount of patients that can go through a scanner in an hour.” “And if you see patient deterioration, we can in a time of 24 or 36 hours predict if, for example, an arrest will be coming, and therefore you can do an early intervention preventing patient deterioration or even worse events to happen.”Investors seem to have embraced Philips’ recent use of new tech in its medical devices, as the stock is up more 65 per cent over the past year.

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