The bodies piled up by the dozens.
In New York, the first wave of COVID-19 cases peaked in March and April.
Hospitals and health care providers felt a huge strain. Their intensive care units couldn’t handle all the new patients.
Thousands of people ended up on machines to help them breathe. Thousands more people died.
There’s no question about it: This pandemic has changed the way we live. And to fight the anticipated second wave of cases as schools and businesses reopen, it’ll take a life-changing solution.
That’s where artificial intelligence (AI) comes in.
Mount Sinai’s hospital network was stretched to the limit during New York’s first peak. Between April 1 and April 15, it treated 2,874 patients. In just those two weeks, over three-quarters of its total bed capacity was tied up.
And it doesn’t want a repeat of that pressure. That’s why it came up with the new Mount Sinai COVID Informatics Center.
The center will use AI and machine learning to help diagnose and treat COVID-19 more quickly and efficiently.
Mount Sinai’s record systems already collect detailed coronavirus patient data. And the center’s algorithms can use these numbers to optimize hospital resources.
For example, they can predict which patients will need ventilators most and which are recovering and close to being discharged.
There’s even a new AI-based diagnostic tool in the works. The tool can accurately diagnose COVID-19 in 84% of cases. That’s higher than the rate Mount Sinai doctors could diagnose without it.
Of course, the center’s projects are still works in progress. But it’s clear that standard testing measures won’t cut it anymore.
It highlights our changing times: We adapt or die.
The New Normal
This same new normal applies to the stock market, too. Consumer habits are shifting. Businesses that fail to cater to these new needs can easily go bankrupt. Household names like JCPenney and Pier 1 are closing hundreds of stores after failing to adapt.
So, it’s simple. Companies that want to survive — and thrive — during this pandemic and beyond need to adapt. And just like Mount Sinai, many of them are turning to AI to do so.
But this shouldn’t be a surprise. AI is already everywhere.
If you own a smartphone and use voice commands, you’re probably using AI every day. It’s also powering self-driving cars. And it transformed health care diagnosis systems even before COVID-19.
Now, we’re still uncovering all the needs AI can fill in our society. But one thing is certain: AI will unleash a massive windfall for Main Street investors like you.
Financial services firm PwC estimates that AI technology will add $15.7 trillion to the global economy by 2030. With added demand to adapt during this pandemic, that figure could surge even more.
This AI trend will change our world and our lives. And the companies at the forefront of it could easily hand investors triple-digit profits in three to four years.
I’ve identified four of the businesses providing customers with critical AI products and services. They have strong balance sheets and growing free cash flow. And they’re not reliant on foot traffic to make money.
The Winning Investor Daily Team