New York, February 8, 2024: Netscribes Inc., a global data, and insights provider to leading healthcare companies, has published a comprehensive whitepaper exploring the potential of artificial intelligence in the treatment of mental health. The whitepaper, titled ‘AI-powered mental health treatment market’, delves into the benefits, challenges, and prospects of AI chatbots in the improvement of mental health.

“AI in the mental health market is expected to reach USD 12.67 Bn by 2031,” stated Prerna Agarwal, Senior Analyst (Life sciences) at Netscribes. “Moreover, with the increasing awareness of mental illness and a rising incidence of suicides, there is a growing demand for private and confidential tools that facilitate early and prompt intervention. AI-enhanced technology is addressing this demand by providing anonymous support, enabling individuals to access therapeutic tools from the comfort of their homes, thereby alleviating concerns associated with traditional therapy. In light of this scenario, the industry is expected to attract significant investments from health organizations for the advancement of mental health treatments using AI, thereby accelerating research and adoption on a global scale—a trend that is already in progress.”

In its whitepaper, Netscribes underscores the pivotal applications of AI-powered mental health treatment. These applications include the analysis of patient data, diagnosis of chronic diseases, selection of treatments, and the utilization of augmented and virtual therapists and apps. The research firm delves into the challenges associated with implementation, addressing issues such as patient privacy, societal stigma, cybersecurity, and regulatory considerations.

Furthermore, the whitepaper delves into future possibilities, envisioning chatbots that can instruct users in therapeutic skills typically taught by a human therapist. It also explores emerging trends within the market. The analysis extends to the competitive landscape, identifying key players and providing an overview of their strategies and collaborations.

Key highlights from the whitepaper include:

• In-depth analysis of the benefits and challenges of AI-powered mental health treatment
• Market trends, opportunities, benefits, and potential applications
• Company profiling showcasing successful implementation of AI in the field of mental health and its treatment
• Ethics of applications of AI on the mental health treatment market

To access a complimentary copy of the Netscribes whitepaper – Artificial Intelligence (AI) – Powered mental health treatment market

About Netscribes

Netscribes Data & Insights is a global data, insights, and digital solutions firm that helps fast-growing firms in the digital economy achieve their strategic growth objectives. Netscribes technology-driven solutions are designed to help modern enterprises thrive in a digital-first world, combat the threat of disruption, and build a competitive advantage. Our expertise lies in gathering data from varied sources, translating it into meaningful information, insights, or content, and using it to enhance customer journeys. Over the last two decades, we have helped both Fortune 500 companies as well as high-potential startups, across a range of industries, including technology, automotive, financial services, healthcare, retail & e-commerce, and CPG, leverage data to tackle disruption, understand evolving customers, and accelerate business growth. For more information, please visit https://www.netscribes.com/