Healthcare funding for artificial intelligence declined from $3.7 billion in the fourth quarter of 2021 to $2.5 billion in the first quarter of 2022, according to a May 12 report by tech market analytics firm CB Insights.
Despite the drop, healthcare AI drew the most funding among AI sectors in the first quarter of 2022, securing 17 percent of the total.
Global funding for artificial intelligence startups also saw one of the largest declines of funding since 2019, according to the report.
In the fourth quarter of 2021, AI funding reached $17.1 billion, this declined by 12 percent in the first quarter of 2022 to $15.1 billion.
As AI healthcare funding declines, digital front door funding reached a record high of $1.9 billion in 2021, up 67 percent year-over-year as patients, providers and investors see increased opportunity in a hybrid health model.