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At a conference in November 2020, the chief executive officers (CEOs) of two exceptional healthcare start-ups-AliveCor Inc. (AliveCor) and Neurobit Inc. (Neurobit)-discussed their paths to innovation: AliveCor, a trailblazing health tech company, had emerged in 2011 with electrocardiogram (ECG) hardware and software that had since garnered global recognition. Neurobit, a digital health start-up, entered the scene in 2018 with sleep biomarker-based health analytics that could predict adverse cardiopulmonary or neurological outcomes. As the CEOs shared their stories, common challenges emerged regarding data acquisition, privacy concerns, and regulatory compliance. Amid their successes, the two companies experienced the necessity of addressing data challenges to achieve AI's full potential in healthcare. They made trade-offs between time and resources amid a rapidly evolving industry and employed various strategies and solutions, from academic collaborations to extensive data collection, in their quest to determine the best strategy to use to overcome the challenges of efficiently and cost-effectively acquiring and utilizing data to drive innovation and gain a competitive edge.

At a conference in November 2020, the chief executive officers (CEOs) of two exceptional healthcare start-ups—AliveCor Inc. (AliveCor) and Neurobit Inc. (Neurobit)—discussed their paths to innovation: AliveCor, a trailblazing health tech company, had emerged in 2011 with electrocardiogram (ECG) hardware and software that had since garnered global recognition. Neurobit, a digital health start-up, entered the scene in 2018 with sleep biomarker–based health analytics that could predict adverse cardiopulmonary or neurological outcomes. As the CEOs shared their stories, common challenges emerged regarding data acquisition, privacy concerns, and regulatory compliance. Amid their successes, the two companies experienced the necessity of addressing data challenges to achieve AI’s full potential in healthcare. They made trade-offs between time and resources amid a rapidly evolving industry and employed various strategies and solutions, from academic collaborations to extensive data collection, in their quest to determine the best strategy to use to overcome the challenges of efficiently and cost-effectively acquiring and utilizing data to drive innovation and gain a competitive edge.