Care management companies, focused on offerings for self-insured employers and patients, sparked enthusiasm among investors.

"The quality and accuracy of the AI model solely depends upon the quality and volume of data used to train it," CIO writes. "As with heavily regulated industries, concerns over digitization, sharing, and security of confidential and personal data are a challenge. Any growth in the application of AI needs to come from within the medical groups and institutions and done in collaboration with the insurance providers, and also relevant government entities."

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