SkyChain is using AI and blockchain to reduce medical errors which cost thousands of lives and billions of dollars yearly.
When people in the US think about top causes of death, they usually think of heart disease and cancer–and they would be spot on. Rarely, however, do they cite the medical industry itself or the human error that is bound to occur.
Medical errors account for 250,000 deaths in the US every year, placing it at number three on the list of top killers in the country. As Cointelegraph points out, these mistakes not only lead to gross loss of life but also up to $20.8 billion in economic cost.
Skychain has set out to use AI and blockchain to help eliminate these errors and save 10 million lives over the next decade.
Here’s how it works:
Skychain brings together many groups of people with differing skills including healthcare big data providers, cryptominers, AI developers, doctors, and patients.
Data providers earn coins by offering the data used to train neural networks, gaining royalties from every neural net used trained from their data.
Cryptominers earn coins for offering their computing power in order to train the neural networks.
Developers utilize the resources of miners and data providers in order to develop their own medical neural networks and get rewarded every time their neural net is used.
Doctors and patients utilize hundreds of neural nets simultaneously to generate the most accurate and efficient analysis and diagnosis in order to save lives.
Is it accurate?
Skychain recently held a competition comparing their AI to human doctors.
You can watch the results here:
Spolier alert: Yes. In some cases, the AI was able to more accurately diagnose disease than professional human doctors.
And this is only just the beginning.
This is blockchain. Are they holding a token sale?
Skychain’s ICO began on February 26, 2018, and they are seeking to raise $36 million. You can read their whitepaper here.
With such a lofty goal of controlling more than 70% of the artificial intelligence in healthcare market–slated to be worth $200 billion within a few years according to IBM–Skychain will need all the support they can get.