Feb 27, 2020
FORBES – Search engine giant Google is intensely focusing its efforts and heavily investing in the health-tech space.
More than 500 people now work at Google Health as its parent company Alphabet tries to improve search results that consumers see when they consult “Dr. Google”.
The tech giant is counting on new businesses as growth slows in its core digital advertising revenues.
A bet on health tech could prove very lucrative for the company, while also helping low-income communities manage their health better
The Breakdown You Need To Know: For Google, its health-tech ambitions date back more than a decade to 2006.
However, CultureBanx noted its original “Google Health” product was canned back in 2012.
Google then spent several years developing artificial intelligence to identify diseases with the intent of predicting outcomes and reducing costs.
Alphabet’s CEO Sundar Pichai stated health care offers the biggest potential for the company to use AI to improve outcomes over the next 5 to ten years, according to CNBC.
It’s not just Google that’s all in on health-tech, Apple and Amazon are focusing on fighting diabetes as another possible revenue source.
Health-tech is big business and projected to reach $149 billion by 2025, with the diabetes device market set to claim around $38 billion by 2026.
African Americans who over-index in this disease could start seeing lower treatment costs, and it would allow these tech companies to capture a big chunk of the diabetic business … Read more.