5 July 2024 – The impact of artificial intelligence (AI) in modern business is undeniable, particularly in the healthcare sector where it’s driving significant advancements. The Croatian business magazine Lider recently featured stories about the AI4Health.Cro project’s partners Newton Technologies Adria and users form TIS Grupa, demonstrating the practical benefits of AI applications in healthcare.
Newton Technologies Adria has made significant progress with its NEWTON Dictate app, which converts speech to text, significantly easing the creation of medical reports for healthcare professionals. This app supports transcription in over 30 languages and has achieved remarkable success with a 95% accuracy rate in recognizing Croatian, a notable achievement given the language’s complexity.
This breakthrough was realized through meticulous enhancement of their specialized dictionaries to accurately capture Croatian dictation nuances. Marko Poljak, partner and director at Newton Technologies Adria, discussed the early market resistance to AI technologies, which soon shifted as the practical benefits, such as reduced time for report generation and increased accuracy, became evident. Despite a downturn in revenue and profit for 2023, Poljak is pleased with the company’s performance, which aligns with strategic goals and the continued expansion of their technology across various medical fields.
TIS Grupa has leveraged AI to significantly enhance its operations, applying the technology in both the financial sector and healthcare. Their standout application, SENDD, is specifically designed to detect neurodevelopmental delays in children early on, showcasing the transformative impact of AI in pediatric healthcare. In 2023, TIS Grupa reported an increase in revenue to €5.5 million, though profits slightly declined. Dženan Lojo, the director, attributed the revenue growth mainly to their strong market presence in Croatia and Slovenia, where they have established long-term client relationships. Despite challenges such as reduced demand in EU and UK markets and inflationary pressures increasing operational costs, Lojo is optimistic about the future, predicting double-digit growth driven by new initiatives, including expansions into card payment processes.
These narratives from the AI4Health.Cro partners and users exemplify the tangible benefits of AI in healthcare, illustrating progress and resilience within this vibrant sector. As AI continues to evolve, its role in enhancing healthcare delivery and operations remains indisputable, promising further advancements and improved patient outcomes in the years to come.