Philps CEO explains how AI speeds up scans and predicts patient issues, transforming healthcare
Philips NV, the Dutch multinational company now centred on healthcare technology, is seeing positive results from integrating artificial intelligence (AI) into its products.
Jakobs highlighted the tangible benefits AI is bringing to the healthcare industry, particularly in areas such as medical imaging, according to a recent interview with BNN Bloomberg.
“The beauty of AI in healthcare is that actually you have very tangible contributions that you can make,” Jakobs said.
He mentioned that in Canada, Philips has developed a smart-speed algorithm to address long wait times for imaging scans. This technology increases the speed of image processing by three times, allowing double the number of patients to undergo scans in the same amount of time.
Medical imaging is one of the key segments where Philips operates, along with patient monitoring and interventional therapies. Jakobs explained that AI is central to enhancing their products in these fields.
He noted that, in patient monitoring, Philips uses a predictive algorithm to track vital signs, especially in intensive care units. This AI tool can predict patient deterioration within 24 to 36 hours, enabling early intervention and potentially preventing severe medical events.
Philips’ stock has surged over 65 percent in the past year, reflecting investor confidence in its adoption of new technology in medical devices.
Jakobs became CEO in October 2022, during a challenging period when the company’s stock had dropped significantly due to a recall of continuous positive airway pressure (CPAP) machines, which are used by patients with sleep apnea and other breathing conditions.
Jakobs said his main focus as CEO has been to return Philips to profitable growth while restoring consumer confidence. Since his appointment, the company’s stock value has nearly tripled.
“When I came in it was very important to start turning the coin towards growing the company again, building confidence, and also making clear that whatever we do… safety and quality has the highest priority,” he said.
He implemented a three-year plan focused on improving healthcare outcomes through patient-centred innovation, with a strong emphasis on safety and quality.
Jakobs also stressed the importance of transparency in his leadership approach, ensuring that investors, consumers, and regulators can hold the company accountable.
“For me, the say-do ratio is very important if you start to rebuild trust,” he said.
