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It is estimated that the telemedicine market will reach USD 113 billion in 2025, while the healthcare Artificial Intelligence (AI) market is expected to reach USD 200 bln in just a few years. There is a huge potential for AI in healthcare, in fact according to the Global AI Healthcare Market Report 2016-17, healthcare is the one sector which will outgrow every other sector when it comes to the use of AI. The report states, “Artificial intelligence in healthcare and medicine could organize patient routes or treatment plans better, and also provides healthcare professionals with literally all the information they need to make a good decision. The biggest bets are on improving patient outcomes, reducing healthcare costs and reducing time-to-market in drug discovery. Healthcare industry business model has revolutionized from historic and evidence-based care to real-time outcome based care and moving towards predictive and preventative care model.”
With such a plethora of possibilities that are wide open to those that are willing to enter early, a disruptive force could soon become a dominant player in this segment. Skychain is a project that will be built on an infrastructure blockchain that will inturn train Artificial Neural Networks (ANNs). These ANNs would play a crucial role in diagnosing patients.
Cutting down loses forging partnerships
Deploying AI in medicine is the next logical step. Considering the fact that thousands of lives can be saved by avoiding medical errors, the work that Skychain are doing is crucial. They have now forged a partnership with WELL where the Skychain project’s blockchain 4.0 solution will facilitate ultra fast transactions and will ensure that neural network training costs are reduced by a factor of 10. This will facilitate faster diagnosis and cut on errors as well. The partnership will also allow for the use of WELL’s video communication platform and payment gateway to allow connectivity to a medical professional. All the doctor will then need is the result of the medical diagnostics of the patient like X Ray, CT, MRI etc. If the patient chooses to get his results analysed by AI, then Skychain would be able to help the doctor in the diagnosis. Already Skychain have proven through a competition the accuracy of their system. A YouTube video of which is available.
Skychain project as an investment
Skychain is taking the crowdfunding route to source funds for its future. They are launching a token called the Skychain Token (SKCH) in an Initial Coin Offering (ICO) that will end on April 8, 2018. Each SKCH will be sold at USD 1.25 during the ICO. Investors can pay for the tokens in Ethereum and Bitcoin. A total of 14.4 mln tokens would be sold during the ICO. The tokens would be used to facilitate transactions on the network such as updation of neural networks, inference using of a neural network or for requests related to neural network training. The complete details of the ICO as well as the project are available in the white paper that they have released.
Skychain has an edge
Skychain is essentially a distributed supercomputer with high performance master nodes which will facilitate ultra fast transactions. The mission of the project is to save 10 million patients from an early death due to medical errors in the first 10 years of operations. This project will make sure that infrastructure is available so that diagnostics are available, affordable and accessible by more people than they are at the moment. Skychain is at the end of the day all about a community of medical professionals, AI developers, miners and patients who will all be able to benefit from each others’ skill sets. This is perhaps what gives Skychain the edge in the coming AI healthcare revolution.
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