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Joseph Schumpter

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How AI will transform medicine


Robert Wachter, M.D., author of The Digital Doctor: Hope, Hype and Harm at the Dawn of Medicine’s Computer Age, looks at 12 ways artificial intelligence will transform medicine in this Hospitals & Health Networks piece.

Healthcare has been artificially shielded from that business model of  what the economist Joseph Schumpter in the ’40s called “creative destruction, ” writes Dr. Wachter.

But no more.

“The incentives to buy high-functioning technology systems will be the same as for other businesses in competitive markets: namely, the price for not doing so will be swift Schumpeterian death in the marketplace.”

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