The Cleveland Clinic Foundation and Mayo Clinic are leading the way for artificial intelligence investment among top healthcare companies according to our analysis of a range of GlobalData data.
Artificial intelligence has become one of the key themes in the healthcare sector of late, with companies hiring for increasingly more roles, making more deals, registering more patents and mentioning it more often in company filings.
These themes, of which artificial intelligence is one, are best thought of as “any issue that keeps a CEO awake at night”, and by tracking and combining them, it becomes possible to ascertain which companies are leading the way on specific issues and which are dragging their heels.
According to GlobalData analysis, The Cleveland Clinic Foundation is one of the artificial intelligence leaders in a list of high-revenue companies in the healthcare industry, having advertised for 35 positions in artificial intelligence, made one deals related to the field, filed five patents and mentioned artificial intelligence zero times in company filings between January 2020 and June 2021.
Our analysis classified one companies as Most Valuable Players – or MVPs – due to their high number of new jobs, deals, patents and company filings mentions in the field of artificial intelligence. An additional two companies are classified as Market Leaders and one are Average Players. Six more companies are classified as Late Movers due to their relatively lower levels of jobs, deals, patents and company filings in artificial intelligence.
For the purpose of this analysis, we’ve ranked top companies in the healthcare sector on each of the four metrics relating to artificial intelligence: jobs, deals, patents and company filings. The best-performing companies – the ones ranked at the top across all or most metrics – were categorised as MVPs while the worst performers – companies ranked at the bottom of most indicators – were classified as Late Movers.
Stanford Health Care is spearheading the artificial intelligence hiring race, advertising for 205 new jobs between January 2020 and June 2021. The company reached peak hiring in April 2021, when it listed 174 new job ads related to artificial intelligence.
Mayo Clinic followed Stanford Health Care as the second most proactive artificial intelligence employer, advertising for 135 new positions. University of Pittsburgh Medical Center was third with 40 new job listings.
When it comes to deals, Mayo Clinic leads with six new artificial intelligence deals announced from January 2020 to June 2021. The company was followed by The Cleveland Clinic Foundation with one deal.
GlobalData's Financial Deals Database covers hundreds of thousands of M&A contracts, private equity deals, venture finance deals, private placements, IPOs and partnerships, and it serves as an indicator of economic activity within a sector.
One of the most innovative healthcare companies in recent months was The Cleveland Clinic Foundation, having filed five patent applications related to artificial intelligence since the beginning of last year.
GlobalData collects patent filings from 100+ counties and jurisdictions. These patents are then tagged according to the themes they relate to, including artificial intelligence, based on specific keywords and expert input. The patents are also assigned to a company to identify the most innovative players in a particular field.
Finally, artificial intelligence was a commonly mentioned theme in healthcare company filings. Tenet Healthcare Corp mentioned artificial intelligence one time in its corporate reports between January 2020 and June 2021.