Wednesday, 06 Dec, 2023




Market Determinants Impacting Distributed Ledger Technology, and AI-Based Architectures in the Healthcare Industry

International Journal of Business Analytics and Intelligence

Volume 10 Issue 2

Published: 2022
Author(s) Name: Anusha Thakur | Author(s) Affiliation: University of Petroleum and Energy Studies, Dehradun, Uttarakhand, India.
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Numerous state-of-the-art leaps in healthcare technology are gaining significant expansion, with the widespread impact of the digital revolution all over. Over the years, the healthcare sector has witnessed major digital transformation with a rise in urgency, previously seen only in consumer-related services (Weisman, 2021). Increasing advancements in technology bolster the need to integrate highly impactful and latest ways to enhance the operational efficiency, resilience, and reliability of health IT systems. The rising adoption of Blockchain as a Service (BaaS) and rising incidences of healthcare data breaches contribute significantly to the overall market demand for these technologies. The Distributed Ledger Technology (DLT) helps in facilitating the sharing of healthcare information, while at the same time maintaining the confidentiality and authentication of the data. With the open architecture of the programming code of this technology, several alternative uses are gaining traction. Incorporation of these technologies offers robust potential for several segments in the healthcare industry, with enhanced efficiency and security for different information and documents. With the businesses engaged in seizing such opportunities, the accessibility and quality of healthcare segments are expected to be completely revolutionised. However, the technology also poses certain vulnerabilities and weaknesses to determine its appropriateness for every application in the health IT systems. This paper discusses the different competitive advantages DLT offers in the healthcare sector, with the prime focus being on strategic decisions and models. The article discusses the market determinants (drivers, restraints, trends, and opportunities) impacting DLT, coupled with the analysis of the decentralised Artificial Intelligence (AI) architectures in the healthcare sector. The article also focuses on the in-depth and relevant information regarding new application areas in the healthcare systems, along with recent trends and developments in the market.

Keywords: Distributed Ledger Technology, Decentralised, Healthcare, Architecture, Artificial Intelligence (AI)

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