AI and Blockchain Are Changing Healthcare and Government Regulation Is on the Horizon

AI and blockchain are poised to revolutionize the healthcare industry. By using AI to analyze vast amounts of data, healthcare providers can improve patient outcomes, speed up diagnosis times, and reduce costs. Couple AI with blockchain, and we will see dramatic shifts in how smart contracts are created and how reimbursements are processed.

However, the use of these technologies also raises important questions about privacy, security, and ethics. The US federal government and the EU are starting to grapple with the enormous task of regulating AI and blockchain within the healthcare industry. Governing bodies have legitimate concerns about data privacy and security, and whether these technologies will exacerbate existing gender, racial and ethnic inequalities in healthcare.

Despite these challenges, the potential benefits of AI and blockchain in healthcare are significant. For example, AI-powered chatbots can provide patients with personalized advice and support, while blockchain can be used to securely store and share medical records. These technologies can also help healthcare providers identify patterns and trends to improve treatment options and identify potential health risks.

While AI and blockchain may be new and unfamiliar territory for many healthcare providers, the potential benefits of these technologies in improving patient care are too great to ignore. As the healthcare industry continues to evolve, it will be important for providers to stay up-to-date with the latest trends and technologies along with the changes in federal and state regulations related to these technologies in order to provide the best possible care for their patients.