KEY TAKEAWAY: Consumer Intelligence Research Partners (CIRP) released data showing that 20 million Amazon Echo and 7 million Google Home smart speakers have been purchased by U.S. Consumers in the third quarter of 2017. These figures are significant. Other estimates suggest about 8.5 to 11 million devices will be sold in the U.S. in Q4 2017. That means total smart speakers sold and in use will approach 40 million in the U.S. That will represent over 20 million U.S. households and consumer reach exceeding 50 million people . The global smart speaker install base will significantly exceed 40 million units at the close of 2017. There are significant opportunities for health care, but does pharma have innovators who can leverage this technology?
According to Accenture analysis, when combined, key clinical health AI applications can potentially create $150 billion in annual savings for the US healthcare economy by 2026. Thos savings are needed but can Alexa really help patients and DTC marketers? Yes.
AI is exploding in popularity. Growth in the AI health market is expected to reach $6.6 billion by 2021—that’s a compound annual growth rate of 40 percent. In just the next five years, the health AI market will grow more than 10x.
While a lot of AI is focused on the HCP side patients can really benefit from AI. For example..
1ne: Alexa can you refill my lipitor prescription? – By allowing an AI device to refill your Rx patients can easily refill medications and use pharmacy drive thru’s to decrease the time it rakes to get Rx’s renewed.
2wo: Alexa what are the symptoms of irritable bowel? Alexa may be able to connect you to sites like WebMD or Wikipedia while also sending links to information to users.
3hree: Alexa, what were the results of my last blood test? If medical records can be integrated with AI patients may be able to hear the results rather than read them. For example, Alexa might say “your blood test results were normal, but your total cholesterol was little high at 190. Would you like to know what that means?”
4our: Alexa tell me about Viberzi? “Viberzi is a drug to treat a certain form of irritable bowel. Would you like to hear the signs of irritable bowel and the schedule an appointment with your doctor?”
5ive: Alexa, remind me to take my medication everyday at 8AM.
6ix: “Alexa, which prescription drugs for depression have the least side effects?”
7even: “Alexa, are there any discount coupons for Humara?”
8ight: “I noticed you ordered an over the counter medication for pain. Would you like to hear other options for pain control of schedule an appointment with your doctor to discuss your health issue?”
9ine: “Alexa what’s the health tip of the day?” “Obesity can be the leading cause for many types of cancers. Would you like to learn more?”
10en: “You haven’t had a physical in over 15 months. Would you like me to schedule a physical with your physician?”
Obviously there is a wealth of opportunities to integrate DTC with AI home devices, but it’s going to take time and learnings to get it right. How much users will be willing to share with their home AI devices, when it comes to health, remains to be seen, but with the market growing so rapidly it’s only a matter of time before a DTC commercial says “Ask Alexa or Goggle home about Viberzi to learn more”.