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Huge ‘screw-up’ — Pump Science apologizes after flood of fraud tokens

Pump Science partially blamed Solana-based software firm BuilderZ for leaving the private key to the dev wallet address on GitHub for the public to see.

Decentralized science platform Pump Science has apologized to its users after its private key was leaked on GitHub — allowing a “known attacker” to create fraudulent tokens using its Pump.fun profile. 

“We do not want to diminish how much of a screw-up this was, we totally acknowledge that this is a huge issue and misstep on our part,” Pump Science’s Benji Leibowitz said in an ask-me-anything (AMA) session hosted on X on Nov. 27.

“This absolutely will not happen again,” he said, adding:

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Binance CEO says task force is working ‘across the clock’ to free exec in Nigeria

Binance CEO Richard Teng said the company has continued to explore every legal and political avenue to bring Gambaryan home as his health deteriorates by the day. 

Binance CEO Richard Teng says his team has been working “across the clock” to bring Tigran Gambaryan home to the United States as the exec’s health declines by the day.

“There’s no need to hold our staff. He’s held unjustly, unfairly,” Teng told Cointelegraph at the Token2049 conference in Singapore on Sept. 19.

“It is distressing for all of us,” said Teng. “Especially for the families. For us at Binance, this is a top priority for us. We have a task force internally working across the clock, looking at different avenues from legal to political.”

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Blockchain adoption in healthcare faces serious obstacles in Germany

Blockchain technology could enhance healthcare digitalization, but privacy concerns are hampering adoption.

Blockchain technology has expanded beyond cryptocurrency and is now used in a number of applications, including decentralized databases, which can prevent counterfeiting through transparency and security. 

This ability to secure data is particularly valuable to the healthcare sector, where blockchain tech can secure data, enhance data integrity and empower patients to control their data more effectively.

It can also improve transparency in supply chains and verify the authenticity of medicine. Additionally, blockchain aids in healthcare identification and has the potential to enhance biomedical research by simplifying data storage and exchange.

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Changpeng Zhao’s next move could involve decentralized science

Decentralized science, or DeSci, aims to apply decentralized business models to medical research.

Changpeng “CZ” Zhao’s tenure as the CEO of Binance may be over, but the exchange giant’s loss could be a boon for the decentralized science (DeSci) sector.

In a comment on X (formerly Twitter) on Tuesday, Nov. 28, the former Binance CEO revealed an interest in the rapidly developing sector.

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How blockchain improves daily healthcare routine, explained

Blockchain enhances daily healthcare by securing patient data, streamlining coordination and minimizing errors for efficient care delivery.

The significance of blockchain in the daily healthcare routine

Blockchain has the potential to revolutionize healthcare by preserving data integrity, fostering better teamwork, and increasing patient care — even in the face of ongoing difficulties with scale and integration.

Blockchain technology has the potential to completely transform healthcare practices.

Blockchain makes it easier to create a decentralized ledger that safely keeps patient data private and permits authorized access.

Additionally, the technology can strengthen clinical trial integrity, guaranteeing the reliability of outcomes and advancing medical research.

How can blockchain prevent the counterfeiting of drugs in the pharmaceutical supply chain?

Blockchain technology’s intrinsic transparency and immutability are vital in the fight against drug counterfeiting in the pharmaceutical supply chain. 

Blockchain follows the movement of pharmaceuticals from production to distribution, providing an immutable record of every stage along the way by generating an unchangeable ledger of transactions.

Every drug batch is registered as a distinct block on the chain, holding important data, including quality certifications, shipment information and production details.

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How blockchain, AI can help research into extending human life

Jasmine Smith, chief executive of Web3-based wellness app Rejuve.AI, told Cointelegraph that decentralized and AI-powered platforms for health research do not aim to replace doctors and clinicians but rather help them in their work.

Blockchain and artificial intelligence (AI) have long been paired to change how people view identity and verification. Between those innovations come data, described by experts as the new oil — extracted, amassed, refined, processed and turned into something useful.

While most blockchain and AI use cases are still experimental and success can’t yet be measured, a developing app employs users’ personal data to contribute to research on prolonging human life.

Speaking with Cointelegraph at the recent Cardano Summit, Jasmine Smith, chief executive of Web3-based wellness app Rejuve.AI, said that crowdsourcing data from multiple sources helps accelerate longevity research. She explained that the current core data sets are narrowed to Western populations. She explained:

“Being able to democratize that access and fill in the data gaps in places like Africa, Asia, and the Middle East will give us a more holistic picture of human health and longevity and [enable] us to give better recommendations… to assist their care.

Smith added that such initiatives do not aim to replace doctors and clinicians but rather help them in their work.

“Open source development always creates better AI algorithms. We also have a section where people can contribute to our AI platform to make multiresolution simulations based on different factors,” she added.

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Rejuve.AI is a decentralized longevity research network where users can contribute their personal health data for aging science studies in exchange for rewards in the form of a token, which, in turn, can be used for other products and services within the platform. According to Smith, data collected from users will then be used to develop advanced test kits, such as genome sequencing, DNA methylation, and biological age tests — products that a normal individual would not be able to access otherwise.

Referring to concerns that the initiative may trivialize views on longevity research, Smith argued that people “innately like to be rewarded,” adding:

“I think everybody wants to get something for what they give, especially when it comes to health data. We’re wearing smartwatches and rings, and while we might get some little cool graphs on the app, we’re not actually getting paid.”

The executive pointed out that that aspect of Web3 “can be really powerful,” highlighting what comes out of the research that “goes far beyond just the token.”

When asked about the philosophical debate and unintended societal consequences around extending human life, Smith explained that the project is not forcing anyone to “live past 100.”

“It’s more about pushing the limits of science and technology to make something not just for rich people but for anybody who does have that drive and that motivation [to extend their lives],” Smith said. “It’s also not about pushing that driver motivation on someone that doesn’t already have it.”

Smith said that she does not see AI replacing humans completely. Instead, she believes that the technology will not only make their jobs easier but also give them a more direct and detailed insight into a person’s value as an individual. She added:

“[AI] can definitely speed up workflows, make tracking easier, and be able to connect an individual more to their data contribution, and to the proceeds that actually arise from putting their data towards different initiatives and products.”

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VC Roundup: private accounts, tokenization, and healthcare infrastructure grab investors’ attention

Nocturne, Untangled Finance, Account Labs, Rymedi, and Waterfall network secure venture capital funding in the latest funding blitz.

Blockchain-based startups continue to gather funding during the current bear market, with MetaMask partner Blockaid raising $33 million in October. However, the overall funding in the crypto industry has dropped to levels last seen in 2020, amassing $2.1 billion over 297 deals in the third quarter of 2023, as reported by Messari. As is often the case during bear markets, investors are taking a closer look at projects before investing and apparently seeking tangible real-world applications. 

As part of October’s highlights, the Nature Science Journal discussed applications of blockchain technology, praising decentralized autonomous organizations (DAOs) for their potential to support underfunded scientific research. Cointelegraph’s venture capital (VC) roundup features projects that raised capital in October.

Untangled Finance completes $13.5M fundraising to bring private credit on-chain

London-based fintech Untangled Finance has raised $13.5 million to accelerate efforts to bring institutional-grade credit with a built-in liquidation mechanism on-chain. Fasanara Capital was the lead investor in the round. The platform’s protocol focuses on tokenizing real-world private credit assets, such as invoices and SME loans, into on-chain structured credit pools. These pools, in turn, facilitate the issuance of collateralized debt notes to both DeFi and TradFi investors, Untangled noted in a statement. The protocol concentrates on private credit markets, where it sees the most utility for DeFi. Through the funds, Untangled plans to access more than 130 verified asset originators spanning 60 countries.

Nocturne raises $6M seed round for private accounts on Ethereum

Nocturne, a protocol enabling on-chain private accounts, announced a $6 million seed funding round co-led by Bain Capital Crypto and Polychain Capital with participation from Vitalik Buterin and other members of the Ethereum community. Other investors include Bankless Ventures, HackVC and Robot Ventures. The company plans to launch on mainnet in the coming weeks, according to a statement. Nocturne offers a solution that combines stealth addresses, zero-knowledge proofs, and account abstraction to enable private accounts on public blockchains. The seed round will accelerate the production and deployment of Nocturne’s protocol across various ecosystems. A portion of the round will also go to legal work as the team continues to adapt to changing regulatory requirements.

Account Labs secures $7.7M in funding for the UniPass Wallet app

Web3 wallet provider Account Labs announced raising US$7.7 million from lead investors Amber Group, MixMarvel DAO Ventures, and Qiming Ventures, among other participants. This announcement coincides with the launch of the company's first consumer-facing app, UniPass Wallet, on Polygon. According to Account Labs, its UniPass Wallet app leverages account abstraction to allow users to create and access a self-custody Web3 wallet with only a Google account and top up with any Mastercard or Visa card. Account Labs was formed from the merger of hardware wallet developer Keystone and software wallet developer UniPass in May 2023. The company hopes to address the demand for stablecoin transactions in the Southeast Asia region.

Rymedi raises $9M to expand blockchain-based healthcare infrastructure 

Rymedi, a blockchain-based healthcare data exchange platform, announced a Series A round of $9 million to expand its reach. The round was co-led by RW3 Ventures and White Star Capital with participation from Blockchange Ventures, Avalanche’s Blizzard Fund, and strategic angel investors from the healthcare industry. Rymedi claims to serve over 1 million patients in over 1,200 locations across the United States, Africa, and Australia. The funds will be used to increase data security and healthcare record accessibility for patients. “We are always searching for great teams that are using blockchain technology to solve real-world problems with the potential to address global markets,” said in a statement Pete Najarian, managing partner of RW3 Ventures. 

Waterfall secures $2M funding for mainnet launch

Layer-1 protocol Waterfall Network has raised $2M ahead of its mainnet launch, which is expected to take place during the first quarter of 2024. Infrastructure provider Bytrade Lab led the funding. Bytrade Lab has become a key investor and user of Waterfall Network following a six-month trial of its tech infrastructure, according to a statement. The protocol is Ethereum Virtual Machine (EVM) compatible and employs a technology called Directed AcyclicGraph or “DAG,” which allegedly allows for unlimited scalability. Waterfall is also collaborating with BlueWave Corporation to develop its smart contract platform.

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Blockchain takes the stage at Longevity+DeSci summit in New York

This year’s Longevity+DeSci Summit in New York City showcased several decentralized solutions.

Those seeking to slow the progress of time spent a few days immersed in that possibility from Aug. 10–11 at the Capitale conference hall in downtown New York City. 

There, the sixth-annual Longevity+DeSci summit convened for its third in-person event — sequestered to online sessions amid the COVID-19 pandemic — following successful editions at the Cooper Union.

This year also marked the first time that the event’s organizer, Lifespan.io, included decentralized science (DeSci) in the title, despite the growing phenomenon’s close ties to the field of longevity.

DeSci on the rise

Decentralized science has proven a hot byproduct of blockchain’s emergence that researchers and investors are watching — even if the principles underpinning it date back to the early 2000s. Simply defined, DeSci is science that takes place outside of traditional academia.

In his opening remarks on the conference’s first day, mathematician and programmer turned Disney tech head Keith Comito — who founded Lifespan.io in 2014 — likened DeSci to the Jimmy Fund, an advocacy group that conducted telethons throughout the last century to raise awareness and money for cancer research, catapulting their cause to a global health priority.

Attendees line up. Source: Lifespan

Nevertheless, blockchain technology and its many emergent phenomena like play-to-earn (P2E) games and decentralized autonomous organizations (DAOs) have empowered a new chapter in DeSci, opening channels for ambitious biotech firms to fund exploration into their endeavors and forego the narrow pathways to finite (and competitive) National Institute of Health (NIH) grants.

Todd White, steward of the Coordination Working Group at VitaDAO, spoke to this facet of the DeSci equation in his keynote remarks, which truly kicked off the conference’s inaugural morning.

Researchers angling for NIH grants battle for peer-reviewed publications, which are a necessary prerequisite for those funds. Some perceive the process as cliquey, but it protects the scientific process.

However, longevity science still suffers distinct, lingering and perhaps unfair perceptions from traditional researchers. Before the advent of artificial intelligence or camera phones, the possibility that human beings could live for thousands of years seemed like the stuff of science fiction. Those who wanted to “cure aging” said instead they were working on an age-related disease like Alzheimer’s. But technology is advancing, and with it, our collective visions for the future. Massive investments in the field show there’s a shift afoot.

Longevity science’s challenges, and blockchain solutions

Thus far, longevity science’s loudest proponents have been eccentric wealthy people proclaiming they want to live forever. Much like many blockchain supporters can understand, those folks have only worsened longevity science’s image problem. Their presence has drawn attention but also overshadowed the profound possibilities that advancements in each field would pose.

Conference attendees had their feet somewhat on the ground throughout the event’s two-day program of concurrent presentations, panels and workshops.

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Despite the occasional necessary rigor in their post-presentation questions, no one outright named any skepticism about the cause at hand, such as living an extra fifty frail years, overpopulation or whether we’ve made a world worth living in longer. Instead, they questioned practical processes.

But still, anyone who might’ve come into Lifespan’s conference with their mind already made up in opposition would have been met with open ears and strategic explanations. Rather than seeking to “live forever,” there was a sense that longevity research means treating the cause of conditions rather than conditions themselves, which some academics have likened to a game of Whac-A-Mole.

So longevity science’s game at this moment is many-fold. This year’s event continued its focus on fostering interdisciplinary interactions that not only benefit longevity research but also help policy advocates, fundraisers and others share ideas that might not arise naturally in existing silos.

There was, of course, a heavier focus than ever on DeSci, through the lens of its new blockchain capabilities. But on day one, Dr. Vadim Gladyshev of Harvard Medical School presented facets of his research into longevity signatures and treatments; Yuri Deigin of cutting-edge gene therapies developer YouthBio Therapeutics discussed the biotech firm’s studies into cell reprogramming; and Omar Elnaggar, the founder and CEO behind Web3 security framework Weavechain, spoke between both Gladyshev and Deigin’s presentations, debuting a dynamic nonfungible token (NFT) his team developed for the event to support current intentions to gamify philanthropy.

Gladyshev presents at the event. Source: Lifespan

Participants were encouraged to mint their own NFT and then drop it into high-profile wallets, with the token accruing donations along the way. At charitable milestones, new visual elements activate.

Intellectual property-NFTs also proved a hot topic at the intersection of longevity science and blockchain tech. These fractionalized approaches to funding research appeared in University of Copenhagen associate professor Dr. Morten Scheibye-Knudsen’s talk on the Longevity Molecule Project, which outlined its work and how the new tech helped make it possible.

Kelsey Moody, CEO of Ichor Life Sciences, gave an illuminating outline of a drug’s pipeline from discovery to approval, illustrating the current trend of Big Pharma increasingly outsourcing that pipeline’s initial stages to contract research organizations like his, which handle and conduct early testing.

Moody also shared an interesting but contentious use case from Ichor where a “high net worth individual” with a dangerous heart condition approached his firm to determine whether he was part of the clinical or placebo group in a trial for a cutting-edge new treatment.

While those tests ran, Moody’s team then devised a backup plan to treat him — for the cost of a small house in certain semi-rural suburbs.

Fortunately for the client, they learned they were getting the treatment, but this raises questions about the ability of high-net-worth individuals to skirt a blinded study — a critical element in medical research that, if compromised, could spoil the study entirely.

If any conference attendees had ethical questions about Moody’s story, no one said anything. The closest they came was in the Q&A following a presentation by Kennedy Schaal, senior biologist at Rejuve AI, a biotech firm with numerous objectives around decentralizing science, like creating a process for gamified remote clinical studies. One attendee asked how it verifies the results of home tests. Schaal said the firm hadn’t thought about it; it just believed people would act with integrity.

In-person, interdisciplinary problem solving

Disney’s Comito told Cointelegraph that Lifespan’s conference differentiates itself with its commitment to reaching maximal participants. That’s why tickets are much cheaper than the many-figured fees or background checks customary to exclusive events like the Longevity Investors Conference in Gstaad, Switzerland, in 2022.

Not only does this approach increase Lifespan’s reach in evangelizing its mission, but the strategy also helps foster desired collaborations among the conference. Writers came across each other in the crowd, for instance, to share ideas on covering this rapidly evolving field.

A dedicated panel discussed DAOs and decentralized tech in longevity biotech. Source: Lifespan

Fundraising is a typical outcome of the event, and Comito announced that Lifespan had partnered with the development team on a Dragon Tyrant P2E game that will contribute to longevity research.

Panel discussions proved the conference’s most interesting part. In a regulatory discussion at the end of the first day, Montana State Senator Kenneth Bogner presented Alliance for Longevity Initiatives founder Dylan Livingston with the pen that Montana Governor Greg Gianforte had used to sign legislation they’d worked on together.

There are a lot of big personalities in the space at present, and on several occasions, those panels persisted in arguing semantics. But at this stage in the game, perhaps that’s the thing to be done.

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Thus, the big questions dogging longevity science right now are manners of labeling: Comito called a biomarker for aging, a shifting variable to quantify it — one of the science side’s holy grails.

Meanwhile, messaging is proving critical on the policymaking and fundraising fronts. Whether or not anyone really believes in living forever, it seems that society might change the way it regards health. An earlier panel discussing whether reversing aging is truly possible dwelled at length on the importance of understanding the body in terms of systems rather than isolated parts. The same approach applies from longevity science to DeSci, and the tech emboldening both.

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AI is helping expand accessibility for people with disabilities

A holistic approach to empowering lives: how AI redefines the accessibility landscape for people with disabilities.

According to data from the World Health Organization (WHO), more than one billion people are living with some significant disability today. Moreover, with the market for AI-related technologies set to grow to a cumulative valuation of over $2 trillion in the next seven years, it is reasonable to suggest that the marriage of these spaces can help introduce a new era of accessibility.

Transforming the lives of people with speech impediments

A key area where AI is making its presence felt is when it comes to supporting people with non-standard speech. Voiceitt is an accessible speech recognition technology company that uses AI and machine learning to assist people with speech impairments.

The tech is designed to recognize and adapt to non-standard speech patterns, thereby enabling clearer communication. The technology is particularly beneficial for individuals who have cerebral palsy, Parkinson’s disease and Down syndrome, wherein producing clear speech can be challenging.

As the realm of artificial intelligence (AI) has grown, this still-emerging technology has exhibited an ability to help improve the quality of life for people living with different kinds of disabilities. 

Dr. Rachel Levy, speech-language pathologist and customer success manager at Voiceitt, told Cointelegraph, “The way our technology works is that people input their speech data into our system, and we have a huge database of non-standard speech. So we have held all of this speech data plus the individuals’ speech data that affects their own model.” 

“This means that the technology learns from the individual’s unique speech patterns and uses this information to translate their speech into a form that is easily understood by others,” she added.

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Levy further explained how the technology adapts to changing speech patterns, particularly for individuals with degenerative disorders. Therefore, as these individuals use the tool, Voiceitt continues to record their speech while human annotators transcribe the data to increase recognition accuracy. So if there’s deterioration in their speech intelligibility, the platform can adapt accordingly and retrain its data models to incorporate the new speech patterns.

Voiceitt also has a live captioning capability. This feature allows for real-time speech transcription during video conference calls or live interactions, making conversations more accessible for individuals with speech impediments. Levy demonstrated this feature to Cointelegraph, showing how the technology can transcribe speech into text and even share it on social media or via email.

Enhancing vision

According to a 2023 study by the WHO, more than 2.2 billion people have some sort of vision impairment, and at least one billion of these cases are easily treatable. 

AI-powered imaging tools now have the potential to assist by converting visual data into various kinds of interpretable formats. For instance, tools like OCR.best and Image2TxT are designed to automatically decipher visual cues and convert them into text and audio-based responses.

Similarly, advanced AI models like ChatGPT-4 and Claude 2 have introduced plugins that are capable of decoding extremely complex info (such as scientific data) contained in images, and interpret them with optical character recognition tools.

Lastly, AI-based image tools can increase and decrease contrast and optimize the resolution quality of images in real time. As a result, individuals with conditions like myopia and hyperopia can alter the resolution of images to suit their visual abilities.

Redefining hearing 

As of Q1 2023, the WHO estimates that approximately 430 million people currently have “severe disabling hearing loss,” which accounts for nearly 5% of the global population. Moreover, the research body has indicated that by 2050, over 700 million people — or one in every 10 people — will have disabling hearing loss.

Recent AI-assisted hearing tools have allowed individuals with compromised hearing to obtain live captions, audio and video content transcripts. For example, Ava is a transcription app providing the text of any conversation happening around its periphery. Similarly, Google’s Live Transcribe provides a similar service, making everyday conversations more accessible for people with hearing impairments.

Another platform called Whisper harnesses sound separation technology to enhance the quality of incoming speech while reducing background noise to deliver sharper audio signals. The platform also uses algorithms to learn and adapt to a user’s listening preferences over time.

AI-enabled mobility 

The Centers for Disease Control and Prevention notes that a little over 12% of Americans experience mobility issues. 

Recent innovations in AI-enabled mobility assistants have aimed to build upon already existing mobility aids like wheelchairs.

For example, there are now AI-powered wheelchairs that can take audio cues from the user, thus opening up a new dimension of freedom and mobility. Firms like UPnRIDE and WHILL have created products that offer autonomous navigation and movement capabilities.

AI also appears in mobility-focused exoskeletons and prosthetic limbs, improving the autonomy of finer movements in prosthetic arms and boosting the power of electromyography-controlled nerve interfaces for electronic prosthetics.

AI-based systems can actuate and read different nerve inputs simultaneously, improving the overall function and dexterity of the devices.

The University of Stanford has also developed an exoskeleton prototype that uses AI to improve energy expenditure and provide a more natural gait for users.

Challenges for AI-enabled devices

AI requires the processing of massive data sets to be able to deliver high-quality results. However, in the context of disability, this involves collecting and storing sensitive personal information regarding an individual’s health and physical or cognitive abilities, raising significant privacy concerns. 

In this regard, Voiceitt’s Levy stressed that the platform complies with various data privacy regulatory regimes, like the United States Health Insurance Portability and Accountability Act and the European Union’s General Data Protection Regulation.

She also said it is standard practice to “de-identify all of the speech data separating personal data from audio recordings. Everything is locked in a secure database. We don’t share or sell any of our voice data with anyone unless expressly given permission by the user.”

Secondly, because AI tech is expensive to devise, the development of personalized tools for people with specific ailments can be costly and time-consuming. Moreover, the cost of maintaining and updating these systems is also significant.

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To this point, Jagdeep Sidhu, CEO of Syslabs — the firm behind SuperDapp, an AI-enhanced platform supporting multilingual voice translation and recognition — told Cointelegraph:

“When it comes to people with visual, auditory, or mobility-related impairments, there is no denying that AI-driven technologies hold incredible potential. That said, one of the most significant hurdles in integrating AI for accessibility lies in the realm of cost. It’s an unfortunate reality that people with disabilities often face steeper costs and challenges to perform everyday tasks compared to those without disabilities.”

As AI and its associated technologies see increased adoption, there is reason to believe that people with disabilities will increasingly explore this space to enhance their lives. 

Even recent legislation across Europe and North America is being tailored to improve accessibility and inclusivity, suggesting that AI will play a crucial role within this realm.

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AI in healthcare: New tech in diagnosis and patient care

From enhancing disease diagnosis to personalizing patient care, here’s how AI can reshape the future of healthcare.

Artificial intelligence (AI) is no longer a concept confined to science fiction; instead, it has become a part of our everyday lives, driving advancements in various sectors, from finance to transportation. However, one of the most profound impacts of AI is being felt in the healthcare industry. 

AI’s ability to learn from vast amounts of data and make predictions is changing healthcare by enhancing patient care and medical research. From diagnosing diseases with remarkable accuracy to managing patient care and pioneering personalized medicine, AI is not just an auxiliary tool for medical professionals but a game-changer in the healthcare landscape.

Moreover, the ongoing integration of AI in healthcare is not merely a trend but a significant shift toward more efficient, patient-centric care. It is transforming how we understand diseases, develop treatments and deliver care, thus reshaping the future of healthcare.

A new frontier in disease detection

AI has shown immense potential in disease diagnosis, particularly in radiology. Studies have demonstrated that AI systems can now match or even outperform radiologists in diagnosing certain conditions using chest X-rays.

Once trained using a large data set of X-rays, AI models can identify a range of diseases — including lung cancer and tuberculosis — with a high degree of accuracy. Speaking on the subject of AI-based disease detection, Dimitry Mihaylov, co-founder and chief science officer for AI-based medical diagnosis platform Acoustery, said:

“AI algorithms can analyze medical images such as X-rays, MRIs, and CT scans to detect abnormalities and assist in diagnosis. Another huge domain is drug discovery and development. AI is revolutionizing the process of drug discovery by analyzing vast amounts of biological and chemical data.”

Moreover, AI has been instrumental in the ongoing fight against COVID-19. AI algorithms formulated after 2020 have been deployed to predict the likelihood of a patient developing severe symptoms, helping doctors prioritize care for those most at risk. AI models have also been used to analyze CT scans and identify signs of COVID-19 infections at their onset, providing a valuable diagnostic tool — especially in regions where testing capacities remain limited.

AI’s potential extends beyond radiology and infectious diseases. For example, in the field of ophthalmology, a branch of medicine concerned with studying and treating eye disorders and diseases, AI technology has been used to diagnose diabetic retinopathy, a common cause of blindness. In this regard, a study demonstrated that AI systems could diagnose diseases simply by evaluating retinal scans with an accuracy comparable to human experts.

In cardiology, AI has been used to predict heart attacks and strokes. Experts have shown that AI diagnostic platforms can now detect life-altering medical events up to five years in advance, outperforming traditional prediction models.

Is the dawn of personalized healthcare upon us?

Over the last half-decade, AI has also started to revolutionize patient management. In this regard, machine learning (ML) algorithms — a prominent application of AI — can analyze vast amounts of patient data to predict individual health risks and suggest personalized treatment plans.

This approach can lead to effective and efficient care, improving patient outcomes while reducing healthcare costs. There is data demonstrating that ML models can predict patient mortality, re-admission rates and length of stay, among other outcomes, with high accuracy.

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AI is also helping reduce the administrative burden on physicians, freeing them to spend more time on patient care. To this point, the technology can streamline the process of clinical note-taking, reducing physician burnout and improving patient outcomes.

Personalized medicine, which tailors treatment to the individual patient, is another area where AI has the potential to make a significant impact. By analyzing genetic data and other patient information, AI can help identify the most effective treatments for each patient, improving outcomes and reducing side effects.

Mihaylov claimed that AI is a key driver for personalized medicine: As AI algorithms can analyze individual patient data — including genetic information, medical history and lifestyle factors — they can provide personalized treatment recommendations to improve treatment efficacy, minimize adverse effects and optimize patient outcomes.

“As an example, proper asthma treatment is efficient only if we make treatment and traction personalized. That could not be done before everybody had a mobile device, and since AI is powerful enough to process all of an individual’s data, such individualistic treatment is now becoming a living reality,” he said.

Supervising AI in healthcare

As AI continues to permeate the healthcare sector, it’s becoming increasingly crucial for healthcare providers to comprehend the risks associated with AI and the subsequent need for oversight.

According to Thomas O’Neil, managing director at Berkeley Research Group and ex-Cigna chief compliance officer, AI-based medical reimbursement models are being designed to leverage large volumes of data to predict expected payments. However, this approach raises several ethical considerations, including informed consent to use data, safety and transparency, algorithmic fairness and biases, and data privacy.

O’Neill also pointed out that while AI can streamline claims processing and reimbursements — thus improving accuracy, enhancing workflow quality and mitigating the risk of errors in patient information entry or pre-authorization claims — these areas require careful oversight. In his view, a board or governing body responsible for overseeing such strategic initiatives needs to be deployed.

Mihaylov believes that some of the most pressing challenges when it comes to supervising AI systems in healthcare are data privacy and security. “Healthcare data contains sensitive patient information, so it is essential to work with lawyers to ensure that everything is done in the correct manner,” he noted.

He added that integrating AI into healthcare systems presents multiple challenges, many of which extend beyond the realm of pure governance alone.

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For starters, sourcing high-quality data is a big challenge for medical organizations since AI models require large amounts of information for training and validation. And because healthcare data is often fragmented, unstructured and stored in different formats across various systems, this issue must be examined more carefully.

The future of AI in healthcare

While the potential of AI in healthcare is immense, there are also certain challenges to overcome. However, with ongoing research and development, and appropriate regulation, AI stands to play an increasingly important role in the global healthcare sector. Therefore, as more and more people transition toward using decentralized technologies, it stands to reason that the influence of AI — from disease diagnosis to patient management and personalized medicine — will only continue to increase.

Moreover, as the technological landscape continues to evolve, we can expect AI to deliver even more innovative solutions to the challenges facing the healthcare market, thereby improving patient care and outcomes.

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