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2024 will see massive growth in generative AI – but also more regulation

December 21, 2023
Summary
Generative AI growth in healthcare expected in 2024 but will face increased regulation. 2023's hype led few health systems to implement definitive generative AI strategies. GSR Ventures' Dr. Justin Norden predicts more providers realizing benefits from genAI in administrative tasks. However, needed for regulatory guidelines to protect patient safety and provider liability, with President Biden's October executive order hinting at 2024 AI regulation. Norden anticipates broader AI regulation, testing for bias, accuracy, and safety. Health systems potentially self-regulating AI algorithms in regulatory uncertainty. Increased financial pressures could force health tech vendor consolidation.
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