Credit: Source: IBM.
Source: IBM.
Watson was designed to learn similarly to how humans learn. It reads millions of documents in just seconds. Human experts train Watson on how to interpret all of that information. Watson can then help evaluate the information and assist in decision making.
IBM's cognitive computing technology is already in use at Memorial Sloan Kettering Cancer Center. Watson pores through vast quantities of information, including patient data, scientific journals, and medical meetings. Memorial Sloan Kettering clinical experts have been training Watson to make sense of all of this information, with a special focus on breast and lung cancers. Over time, Watson should become increasingly more effective at helping physicians determine the most effective evidence-based treatment options for patients.
The potential for Watson to impact care for patients is enormous. It's still too early for the technology to make a meaningful financial impact for IBM, but if we could peer into the future, I suspect we'd find a different picture altogether. IBM, the granddaddy of technology stocks, could very well be one of the most influential healthcare players over the next few decades.
Clear and present opportunity
While all three of these companies could become huge winners as the future of healthcare becomes reality, one stands out as the best pick for right now. IBM boasts a relatively low valuation and pays a solid dividend, currently yielding 3.1% annually. Big Blue's stock might not be red-hot right now, but it appears to be a smart buy. And the future awaits.
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The article The Future of Healthcare: 3 Stocks to Watch originally appeared on Fool.com.
Keith Speights has no position in any stocks mentioned. The Motley Fool recommends iRobot. The Motley Fool owns shares of International Business Machines and iRobot. Try any of our Foolish newsletter services free for 30 days . We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy .
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