No Need to Feel Lost: How Market Intelligence Supports your AI Startup in Healthcare
Inevitably, you have heard of the revolution that ChatGPT has brought to artificial intelligence (AI) tools. Apart from all the benefits that you already read, an additional benefit of ChatGPT is the attention it has driven to AI startups. Investors are now more keen than ever on funding AI startups and providing them with the resources they need. This is evident by recent reports telling us that only since 2019, the global corporate investment into AI has grown by 150%.
The question now is: How do AI startups capitalize on their market opportunities and maximize their benefit from the current hype? Well, these are exactly the types of questions that market intelligence can answer.
The Essential Role of AI in Healthcare Applications
In healthcare, the accumulating patient records and clinical data is one of the most challenging everyday responsibilities that Healthcare Professionals (HCPs) encounter. Introducing AI in analyzing patterns and correlations in huge amounts of data became one of the most essential applications of AI in this field.
It wasn’t until a few years ago that the healthcare system grew more aware of the potential of AI. Currently, AI is part of significant healthcare applications such as medical diagnosis, drug development, outpatient care, personalized treatment plans, and more.
Because the technology is advancing at an unprecedented rate, new AI solutions are arising every day. Since all you need bring an AI start-up to life is a great idea and a developing algorithm, the number of AI start-ups has grown exponentially over the years marking a 14-time fold in the last 2 decades.
Maximizing Market Opportunities for Healthcare AI Startups with Market Intelligence
If you have recently launched your startup, you might feel lost among all the market niches that your solution can contribute to. Market research can help startups secure investment by demonstrating a deep understanding of their project and the market they are targeting. For instance, with market research startups can show investors that their business case is viable and that the business is positioned to grow. Without demonstrating this, investors will be hesitant to place investment in the startup.
Market research also helps startups mitigate risks by identifying potential market challenges and opportunities early on. By knowing potential obstacles, startups can focus on creating relevant solutions to meet the demands of customers.
Hammer Intelligence Tools for Empowering AI Startups
Various market intelligence tools support the success of AI startups through enabling them to make informed business decisions and reduce the risks associated with planning and launching new solutions. By using these tools, startups can tailor AI-driven solutions to meet the needs of customers, avoid costly mistakes, and secure the investment they need to remain competitive over the long term.
This couldn’t be easier with Hammer intelligence tools and methodologies. Hammer has 30+ years of market research experience, 40+ clients across Europe, and a portfolio of projects in a wide array of industries. Curious to know more? Get in touch!