Competition Heats Up - Google Introduces MedLM AI Suite For Streamlining Medical Procedures

Alphabet Inc's GOOG GOOGL Google unveils MedLM suite, a set of artificial intelligence (AI) models specifically crafted for healthcare, aiming to assist clinicians and researchers in various medical facets. 

The suite, consisting of large and medium-sized AI models built on Med-PaLM 2, offers versatile applications, from managing doctor-patient interactions to facilitating complex medical studies.

Google's latest move signifies its ongoing efforts to generate revenue from AI tools in the healthcare industry amid competition from rivals like Amazon.com Inc AMZN and Microsoft Corp MSFT vying for market dominance.

To cater to specific healthcare needs, Google Cloud's global director of healthcare strategy and solutions, Aashima Gupta, emphasized the suite's tailored approach in a CNBC report, asserting that distinct AI models within MedLM are optimized for varied tasks. 

While the larger MedLM model excels in complex, compute-intensive operations, the medium-sized model is more agile and suitable for real-time functions, such as summarizing medical interactions.

During initial tests with partners like HCA Healthcare Inc HCA, Google's MedLM has shown promise, particularly in automating emergency medicine physician documentation and streamlining hospital nurse handoff processes. 

However, challenges have been encountered, including the potential for AI-generated errors, token limitations, and managing AI functionality over time.

Google plans to integrate its advanced AI model, Gemini, into MedLM, expecting improved performance. 

Other entities like BenchSci and Deloitte have also been testing MedLM, leveraging its capabilities to advance drug discovery and assist healthcare clients.

Price Action: GOOG stock is down 0.36% at $133.16 on the last check Wednesday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.