The CEO of a leading sports and health tech investment ecosystem is tracking trends in the industry to identify new opportunities for organizations and entrepreneurs. In the health technology sector, artificial intelligence is expected to see increased adoption, with solutions impacting everything from staffing to preventative medicine. Additionally, extended reality (XR) solutions are poised to transform operational and engagement strategies for businesses in both the health and sports tech industries. Companies that prioritize creating people-first experiences are expected to thrive in the post-pandemic landscape.
In healthcare, AI is being explored as a solution to address workforce shortages and talent challenges. Companies like Ada Health and Ainnova Tech are deploying AI solutions focused on optimizing workflows and improving patient outcomes. However, there are still hurdles to overcome in using AI in healthcare, such as accuracy assurance, data biases, and privacy concerns. Despite these challenges, increased investments in AI solutions are expected to drive efficiency, cost-savings, and innovation in the years to come.
The evolution of the XR landscape, which includes virtual, augmented, and mixed reality technologies, is also significant. XR has applications in healthcare for training, simulation, and non-pharmacological pain management, as well as in sports technology for creating immersive fan experiences. While there is a growing curiosity about XR, there is a need for practical use cases to drive mainstream adoption, especially with regards to affordability and user-friendliness. The global XR market is projected to reach over $111 billion by 2028, with increased interest and applications expected in the coming years.
A new trend of people-first innovation is emerging, challenging the digital-first approaches of modern companies. This trend prioritizes a human approach to solving real-world challenges through community integration. Companies like Boram Care and Spartan Race exemplify this trend by focusing on in-person experiences and community engagement. Embracing a people-first approach can help companies in the sports and healthcare industries develop solutions that resonate with communities and address real challenges.
As AI and XR continue to evolve and be adopted in the health and sports technology sectors, the focus on people-first experiences and human-centric solutions is expected to grow. AI will build a more resilient and patient-first healthcare industry, while XR will reshape healthcare operations and fan engagement. The intersection of these trends highlights a commitment to prioritizing people over purely digital solutions. Technology that embraces a people-first principle is anticipated to take center stage in 2024 and beyond.
