The companies that benefited the most artificial intelligence (AI), at least so far, are arguably the technology leaders providing different types of AI services. However, AI is disrupting every industry in one way or another. Businesses in other industries could leverage technology to improve their operations.
Let’s take an area like health. One company slowly taking advantage of AI-enhanced healthcare is HCA Health (NYSE:HCA)a leading hospital chain. Let’s take a look at what the company is doing and why investors should care.
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HCA Healthcare has launched several AI-based initiatives that could bring small but significant improvements to its business in the medium term. Consider the company’s AI-powered nurse staffing tool. It’s no secret that there is a shortage of nurses and that nurses are suffering from burnout due to high workloads.
Of course, this can affect patient safety: tired and exhausted medical staff are much more likely to make mistakes. HCA’s AI staffing tool can help reduce the time administrators spend scheduling shifts and reallocate it to other important tasks. It also takes into account patient preferences and needs to optimize staffing. It’s not a revolutionary change, but it can make a difference.
HCA Healthcare also works with GE Health to build an AI-powered fetal heart rate monitor. Fetal heart rate tracings are recorded on strips as graphs of the baby’s heart rate and the mother’s uterine contractions to assess the baby’s health. But as HCA Healthcare points out: “There can never be enough human labor to be able to watch every single one of these tapes. »
Doctors can cover more ground with the help of an AI-powered tool designed for this purpose. Note what these two efforts have in common: They focus on improving patient health and outcomes, a key goal for the healthcare leader.
HCA Healthcare is one of the largest hospital chains in the United States. The company has enjoyed enormous success over the years, in part due to massive investments in cutting-edge technology to attract more patients. We see the company doing the same with AI. So, the scenario has not changed for HCA Healthcare, and the company is still able to perform well in the long term.
With an extensive and diverse network of facilities; close relationships with physicians, insurance companies and government payers; and increasing healthcare spending driven by an aging global population, HCA Healthcare could generate strong long-term returns. And AI could help. HCA is one of the top stocks to buy for investors looking for companies ready to capitalize on AI-enhanced healthcare.