Tech behemoths converged in Las Vegas this week at the HLTH healthcare technology conference, showcasing AI tools poised to alleviate administrative burdens on healthcare professionals. Nvidia Corp, Alphabet Inc’s Google, and Microsoft Corp presented solutions promising to streamline healthcare workflows.
The HLTH conference, attracting over 12,000 industry leaders, launched with a focus on AI-powered tools aimed at enhancing documentation and patient care efficiency.
Google and Microsoft view this as an opportunity to leverage AI in easing strain on healthcare systems which are expected to witness a surge in spending, potentially reaching $6.8 trillion by the end of the decade.
Microsoft and Nvidia are strengthening their collaboration to foster innovation for AI startups in healthcare and life sciences. At the HLTH healthcare innovation conference, both companies unveiled plans to support startups by providing cloud credits, AI software, and technical guidance to propel advancements in areas such as digital health.
The initiative will harness Microsoft’s Azure cloud platform and Nvidia’s AI capabilities to equip startups with state-of-the-art tools. The partnership aims to expand the reach of AI-driven healthcare solutions by linking the Nvidia Inception program with Microsoft for Startups.
Nvidia will contribute its AI expertise, offering 10,000 inference credits for utilizing GPU-optimized models and access to the full suite of Nvidia Clara platforms specializing in healthcare and life sciences. Startups will also receive early access to Nvidia’s healthcare solutions and avenues to connect with investors and industry peers.
Microsoft, on the other hand, will extend up to $150,000 in Azure credits and $200,000 in business tools to each participating startup, along with entry to the company’s Pegasus Program providing go-to-market support. Workshops will be conducted to aid startups in developing applications using Nvidia’s technology stack on Azure.
The initial phase of the collaboration will target companies operating in digital health and life sciences, with future plans to extend the program to startups across various sectors.
Both companies employ Nvidia GPUs and Azure’s HIPAA-compliant cloud environment to ensure security and privacy in their AI-driven solutions.
In another development, Nvidia announced a partnership with Aidoc, a startup offering AI solutions for healthcare institutions to enhance workflows and patient care quality. Together, they will work on a framework termed “Blueprint for Resilient Integration and Deployment of Guided Excellence” (BRIDGE) to hasten AI implementation in healthcare.
Vivek Arya of Bank of America dubbed Nvidia a “generational opportunity” owing to its strong foothold in the AI chip market, foreseeing a potential access to a $400 billion market by 2024.
Beth Kindig from I/O Fund predicts Nvidia’s valuation to soar to $10 trillion by 2025, attributing it to their Blackwell chips.
As of the latest check on Monday, NVDA stock surged by 3.19%, settling at $142.20.
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