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Artificial Intelligence in Healthcare (Silicon Valley Bank)

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ReportSilicon Valley BankJune 202420 pages30 min readOriginal source
Key number
27%
Administrative AI share of AI healthcare investment in 2024 p.4

Summary

  • The White House recently committed over $3B through its executive order on safe, secure and trustworthy AI development.p.3
  • Since 2019, the growth in healthcare AI deals is twice that of tech overall.p.4
  • Administrative AI accounts for 27% of AI healthcare investment and 42% of deal volume so far in 2024.p.4
  • Since 2021, patient journey use cases account for 60% of healthcare AI investment while therapeutics and research account for 40%.p.6
  • VC investment in administrative AI since 2021 is $6.6B, versus $12.5B for clinical AI.p.6
  • The 2023 median Seed/Series A and later stage deal sizes were $5M and $21M, respectively.p.8

Key insights

  1. Investors and buyers are critically evaluating new AI solutions by how readily they will be adopted and how much business value they offer.p.7
  2. Healthcare AI deal activity has grown faster than in tech overall over the last five years.p.3
  3. Virtual assistants account for $2.6B of VC investment since 2021.p.6
  4. Notetaking and EHR documentation attracted $1.6B and revenue cycle operations $1.7B since 2021.p.6

Published by Silicon Valley Bank (funder profile)

Topics and entities

USStartup fundingVenture capitalSVBWhite House

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