From doctor to technician, the future of the healthcare industry

This world promises just one thing: continuous change. As humanity has moved through time much has changed in the worlds of science, mathematics, and physics. These changes in humanity's understanding of the world often come in quick unsuspecting waves of education, innovation, and experimentation. Such waves can be thought of as a series of technology shocks which are known to cause significant disruptions within an industry and the economy broadly as firms permanently change the ways they produce and distribute goods and services in response to the new technologies or information. The recent flurry of innovation and interest into Artificial Intelligence leads us to believe that many industries may be experiencing such a wave of change today. The healthcare industry currently employs the most workers of any other sector in the United States (outside of the government) and is made up of an unprecedented 77% of female workers making the outcomes of changes in its labor market demands particularly important. In this paper we discuss the current state of Artificial Intelligence adoption within the clinical side of healthcare, what sub sectors and occupations are most exposed, and to what extent the FDA approved AI-enabled clinical healthcare products replace or complement those tasks of existing occupations. We also interviewed a few healthcare professionals with different levels of seniority and exposure to AI enabled products to develop a holistic understanding of current AI adoption, employee preparation, and potential labor market implications over the short and long term. We find that AI implementation within clinical healthcare settings is young in its life cycle yet fast growing. Current use cases are mostly in the earlier stages of the patient’s care journey assisting workers in various capacities in the processes of patient testing, diagnosis, care planning, and post treatment monitoring. The tasks associated with patient interaction and care administration do not appear to be threatened by AI automation at this point in time. Additionally, approved Artificial Intelligence products for clinical use are disproportionately concentrated in the subsectors of radiology, neurology, and cardiology. Finally, our interviews revealed a concerning lack of consideration and preparation, among healthcare workers, of the potential automation of their fundamental tasks. Going forward, we believe it believe wise for healthcare workers to monitor the evolution of clinical AI use cases as well as the FDA approval of AI enabled products and prepare for potential automation by continuing to learn new skills, take on additional responsibilities, and generally inject themselves into as many stages of the patient’s healthcare journey as possible to differentiate among other workers and avoid automation.