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Why the Introduction of AI in Long-Term Care Takes a Long Time
- AI remains slow and challenging to be adopted in long-term care facilities despite its potential to revolutionise patient care through fall detection, bedsore prevention, and sleep quality assessments.
- For venture capitalists, long-term care AI is appealing for several reasons. First, healthcare software is typically sold through recurring licensing agreements, which makes companies offering these solutions prime acquisition targets.
- The core issue for long-term care providers is a growing staff shortage. AI can help by increasing caregiver productivity, making it a crucial tool for maintaining quality care in the face of resource constraints.
- Long-term care facilities rely heavily on outdated technologies installed by system integrators with vested financial interests in maintaining the status quo, presenting a clear apprehension in the care industry that is causing the sector to fall behind with the times.
- The slow adoption of AI in long-term care boils down to four key factors, which include system integrator resistance, hardware lag, training and cultural barriers and fear of AI replacing jobs.
- AI has come under immense criticism due to a lack of education on the subject. There is a fear that AI is going to replace jobs in healthcare, taking away income from hard-working people.
- Ultimately, the introduction of AI into long-term care will be a slow but inevitable process. System integrators who pivot to offer AI-based solutions in long-term care can position themselves for success in a growing and underserved market.
- Venture capitalists should keep an eye on vision technology that unifies and improves current fragmented systems. The question isn't if AI will transform this sector, but how quickly it will happen—and who will lead the charge.
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