AI-driven innovation in healthcare product development : challenges and ethical implications

Abstract

The function of Artificial Intelligence in the developing structure of healthcare products and services is immersive and unavoidable in the current scenario. In healthcare, different fields and sectors like detecting new drugs, personally tailored medicines, and monitoring patients in real-time have gained huge innovative ideas and programming beneath the supervision of AI to produce high-quality decisions. This study elaborates on the significant nature of AI in healthcare and provides a detailed explanation of the challenges in healthcare product development like privacy and data security concerns, biases, transparency, and explainability of AI, and the ethical implications of bioethics principles which are mandatory aspects for the recommendable product innovation, so these are reviewed based on prevailing literature reviews, analysis of case studies, and frameworks. Moreover, the study deep dive into the future direction of AI healthcare innovation, in current research of IoMT - Internet of Medical Things and Moral robots making healthcare choices and decisions which are a huge potential for healthcare innovation. Based on the findings, the study balances AI in the healthcare approach and strongly recommends ethical implementation and fairness in the solution of AI healthcare product innovations.