5 days Ago By Nikki Ross
What is Dr. Bill Frist most looking forward to? Developments in artificial intelligence and its adaptation in the health care industry. “The opportunities today in terms of innovation are huge, are wide open to make health care more affordable and higher quality, more value based in terms of value being better outcomes for every dollar in this template,” Frist said.
“The thing that I'm most excited about is the world of generative AI and artificial intelligence.” The former U.S.
Senate Majority Leader's shared his thoughts on AI and innovation in the health care industry at the April 15 Nashville Business Breakfast , hosted by Lipscomb University and the Business Journal. Frist is a titan in Nashville's $68 billion health care industry. He is the founder of NashvilleHealth and co-founder of Frist Cressey Ventures, among other pursuits.
AI is a hot topic in today's business world, as the technology develops at a rapid pace. There are many different forms of AI; the most popular one we see today is generative AI , which encompasses programs like ChatGPT. The promise for the technology is to eventually reach artificial general intelligence (AGI), which is a hypothetical stage of AI where it will match or surpass humans' abilities across a range of tasks.
There is a lot of information generated in the scientific and health care spaces, according to Frist. But historically, that information has been siloed. “There are 300 people in this room, everybody has this vast database that’s distributed and not connected, that’s the way health care has been delivered today,” Frist said.
“This lack of aggregation, of being able to weave that data together in a way that is predictable for the next word is what AI does.” Frist said he can see AI used for prior authorizations, second opinions and personalized medicine. “Every one of us is totally different.
That’s determined by billions and billions of genes and genetics and amalgam of environmental influences to be able to personalize to you,” Frist said. “I can’t do that, but a computer can using AI.” He also sees AI helping to alleviate administrative burdens on health care workers and making them more productive.
“You’ll be able to over time lower that number of people that are required to treat that heart attack or deliver that baby,” Frist said. “So, the cost of health care over time will drop.”.
