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CEO explains why GE Healthcare's research and development is focused on AI

Key Points
  • GE Healthcare CEO Peter Arduini told CNBC's Jim Cramer about developing AI products, including technology to make patient data more cohesive.
  • AI can also also enhance imaging, and Arduini said customers are willing to pay up for advanced technology.

In this article

GE Healthcare CEO Peter Arduini talks AI investments
GE Healthcare CEO Peter Arduini talks AI investments

In a Thursday interview with CNBC's Jim Cramer, GE Healthcare CEO Peter Arduini said a lot of his company's research and development efforts are focused on artificial intelligence.

Arduini went through several ways AI can enhance health-care workers' productivity, including technology that makes patient data more cohesive.

"The last piece, which we're assembling now and will evolve in the next few years, is what's called multimodal data integration — your genomics information, your pathology information, your image data," he said. "All together on one pane of glass, and a given algorithm, or foundational model, that can help decipher through that data and help your clinician move you in the right direction."

Arduini also described how AI can be used in MRIs, CTs and ultrasounds to heighten imaging, claiming that customers are willing to pay more for these advanced products. He added that GE Healthcare's R&D investments over the past year created a pipeline of 40 new products that will have a "flywheel effect" on the business.

Arduini also reflected on GE Healthcare's first year as an independent company from GE, saying that independence enabled progress.

"Focus is a lot. We have a very focused board, we have people coming to us that really are dedicated to health care," he said. "We've been able to free up our own balance sheet to invest across the company."

GE Healthcare CEO Peter Arduini goes one-on-one with Jim Cramer
GE Healthcare CEO Peter Arduini goes one-on-one with Jim Cramer

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Disclaimer The CNBC Investing Club Charitable Trust holds shares of GE Healthcare.

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