Investors looking to profit from the exciting artificial intelligence (AI) market are likely to turn to the technology sector first. That's an understandable strategy. Many, if not most, prominent AI leaders work there. But there are exciting companies in other industries that are quietly incorporating AI into their businesses and could eventually become leaders.
One such company in the healthcare industry is Intuitive Surgical. (NASDAQ:ISRG). Let's discuss the robot-assisted surgery (RAS) leaders' moves in the AI space and what it means for investors.
Intuitive Surgical's best-known device, the da Vinci system, was the first RAS machine to receive clearance from the U.S. Food and Drug Administration (FDA) in 2000. Since then, the healthcare leader has introduced its crown jewel product several more times.
The company received approval for the fifth generation of its da Vinci system in March. Intuitive Surgical's latest devices introduce several cutting-edge features, including force feedback technology. This would allow doctors to better measure how much pressure is being applied to a patient's body tissues during surgery, potentially reducing trauma and potentially speeding up recovery time. .
The da Vinci V has 10,000 times more computing power than its predecessor and offers many upgrades. Force feedback technology helps surgeons generate a data stream about the amount of force they apply to tissue during surgery. Intuitive Surgical says this capability could eventually integrate AI-powered analytical insights to improve patient outcomes. While this may not be practical yet, there are several other ways Intuitive Surgical is already leveraging AI. Let's consider three.
First, we integrated the technology into some devices, such as staplers that use AI to better monitor tissue connections. Second, Intuitive Surgical's SimNow is a simulator that helps train doctors on the da Vinci system, using AI to simulate and predict what will happen during a real surgery, and to train doctors in training. Provide valuable insight. Third, Intuitive Surgical provides consulting services, some of which incorporate AI. For example, the company helps hospitals optimize operating room schedules.
As the AI field advances, Intuitive Surgical will no doubt continue to integrate the technology into its business.
Intuitive Surgical's AI efforts may not yet have a big impact on its business results. It may take some time. Meanwhile, the company continues to perform well. Intuitive Surgical's da Vinci 5 is already a hit. The device's adoption is happening faster than analysts expected. In the third quarter, 110 of the 379 da Vinci systems deployed by the company were the latest models. It has already been used in 12,000 surgeries. Intuitive Surgical's revenue was $2.04 billion, an increase of 17% year over year.
story continues
