Author: Abhimanyu Rishi, Founder and Director of Bhookha Haathi
The ongoing pandemic has caused
disruption in how we have learnt to live so far, however, it has also paved the
way for transformation and innovation in the healthcare sector.
disruption in how we have learnt to live so far, however, it has also paved the
way for transformation and innovation in the healthcare sector.
The portfolio of sectors who are
benefiting from the merits of AI and new-age technologies is diverse and
healthcare is not left untouched either.
benefiting from the merits of AI and new-age technologies is diverse and
healthcare is not left untouched either.
Automating tasks and better accuracy
provided by machines leaves less margin for human errors. The global deployment
of AI in healthcare market size is expected to grow from USD 4.9 billion in
2020 and reach USD 45.2 billion by 2026; it is projected to grow at a CAGR of
44.9% during the forecast period.
provided by machines leaves less margin for human errors. The global deployment
of AI in healthcare market size is expected to grow from USD 4.9 billion in
2020 and reach USD 45.2 billion by 2026; it is projected to grow at a CAGR of
44.9% during the forecast period.
COVID-19 has made some deep cuts into
our system and exposed the vulnerabilities and chinks in the armor of the
existing infrastructure to the public; The Healthcare system is about to
collapse as the curve steepens further. Economic depression is rising and thus
it is critical to re-start business operations and economic activities.
our system and exposed the vulnerabilities and chinks in the armor of the
existing infrastructure to the public; The Healthcare system is about to
collapse as the curve steepens further. Economic depression is rising and thus
it is critical to re-start business operations and economic activities.
Accepting The New Normal
In a post-COVID world, life runs around
the motto “Prevention is better than cure”. Scepticism is already
high around long term side effects on health by pharmaceutical solutions
available in the market. Growing trends have shown that there has been a transformation in consumer behaviour – people
are starting to prefer natural or organic products to achieve Holistic
Nutrition rather than synthetic supplements. This is an important trend to
notice since boosting community immunity is a priority for survival keeping in
mind the rising number of deaths due to coronavirus infection.
the motto “Prevention is better than cure”. Scepticism is already
high around long term side effects on health by pharmaceutical solutions
available in the market. Growing trends have shown that there has been a transformation in consumer behaviour – people
are starting to prefer natural or organic products to achieve Holistic
Nutrition rather than synthetic supplements. This is an important trend to
notice since boosting community immunity is a priority for survival keeping in
mind the rising number of deaths due to coronavirus infection.
Life is disrupted forever and wonโt be
back to what it was anytime soon. There is a dire need for innovation and
creativity with caution when faced with an unprecedented situation like this.
It is critical to follow the guidelines and protocols laid down by authorities
since businesses are reopening again in a post COVID scenario. Once the
workforce gets back to the office, it is important to adhere to the norms of
social distancing and ensuring wellness.
back to what it was anytime soon. There is a dire need for innovation and
creativity with caution when faced with an unprecedented situation like this.
It is critical to follow the guidelines and protocols laid down by authorities
since businesses are reopening again in a post COVID scenario. Once the
workforce gets back to the office, it is important to adhere to the norms of
social distancing and ensuring wellness.
Technological Intervention in Healthcare: Use Cases
Personalised medicine – Using Large data sets based on patientsโ medical history, AI is able
to formulate the right combinations to target specific ailments. Using
predictive analytics, medical professionals can help pin down the risk of
disease in the near future.
to formulate the right combinations to target specific ailments. Using
predictive analytics, medical professionals can help pin down the risk of
disease in the near future.
On the other hand, machine learning, a
subset of AI helps in automation of routine and repetitive tasks, this helps in
optimising the administration process and cuts down on Enterprise’s labour
costs, proving to be a long-term asset for any SME or organisation.
subset of AI helps in automation of routine and repetitive tasks, this helps in
optimising the administration process and cuts down on Enterprise’s labour
costs, proving to be a long-term asset for any SME or organisation.
Health-focused Chatbots – These use deep learning algorithms deployed in NLP (natural language
processing), these help to disseminate public health information for awareness
campaigns, as recently done by WHO.
processing), these help to disseminate public health information for awareness
campaigns, as recently done by WHO.
Chatbots can also schedule
appointments, respond to general user queries addressed to doctors and
hospitals. They can be useful for sending reminders to patients and to
self-triage patientsโ disease based upon the symptoms they enter.
appointments, respond to general user queries addressed to doctors and
hospitals. They can be useful for sending reminders to patients and to
self-triage patientsโ disease based upon the symptoms they enter.
Diagnostics Assistance
Natural Language Processing (NLP) can
help doctors to filter out relevant information from lengthy and subjective
reports. This helps in cut downtime and aids in better decision-making process
by narrating the information to doctors thus making it easier for them to
consume information.
help doctors to filter out relevant information from lengthy and subjective
reports. This helps in cut downtime and aids in better decision-making process
by narrating the information to doctors thus making it easier for them to
consume information.
Medical Imaging
Medical imaging has brought
revolutionary changes in providing healthcare services by providing a better
picture of various anomalies. But sometimes, the anomalies are so small in size
that a human eye becomes unable to detect it. With doctors not being able to
detect such abnormality can even cost a patientโs life. AI helps in detecting
such anomalies which human eye cannot detect.
revolutionary changes in providing healthcare services by providing a better
picture of various anomalies. But sometimes, the anomalies are so small in size
that a human eye becomes unable to detect it. With doctors not being able to
detect such abnormality can even cost a patientโs life. AI helps in detecting
such anomalies which human eye cannot detect.
According to Data Bridge Market
Research, Global Artificial Intelligence in Medical Imaging Market of which
artificial intelligence in medical imaging is a part of is expected to rise
from its initial estimated value of USD 21.48 billion in 2018 to a projected
value of USD 264.85 billion by 2026, registering a CAGR of 36.89% in the
forecast period of 2019-2026.
Research, Global Artificial Intelligence in Medical Imaging Market of which
artificial intelligence in medical imaging is a part of is expected to rise
from its initial estimated value of USD 21.48 billion in 2018 to a projected
value of USD 264.85 billion by 2026, registering a CAGR of 36.89% in the
forecast period of 2019-2026.
R&D for Drug Development: Costly medicines involve lots of
research and development followed by clinical trials. Disruptive technology
like Artificial Intelligence can help reduce the cost of medicine by reducing
the cost of R&D. For example, Atomise launched an AI-powered program in
2014, which helped to find alternative medications for the Ebola virus. Drugs
were found with the potential to reduce the effects of Ebola within one day. It
reduced months of R&D work, which saved medical institutions time and
money.
research and development followed by clinical trials. Disruptive technology
like Artificial Intelligence can help reduce the cost of medicine by reducing
the cost of R&D. For example, Atomise launched an AI-powered program in
2014, which helped to find alternative medications for the Ebola virus. Drugs
were found with the potential to reduce the effects of Ebola within one day. It
reduced months of R&D work, which saved medical institutions time and
money.
New Wave for Healthcare Industry
In the near future, infrastructure and
operations are deemed for Technological intervention. Leaders in the healthcare
industry must take cognizance of the ongoing rapid changes and develop a
future-proof framework for their sector by investing in the right resources to
build an agile and healthy workforce.
operations are deemed for Technological intervention. Leaders in the healthcare
industry must take cognizance of the ongoing rapid changes and develop a
future-proof framework for their sector by investing in the right resources to
build an agile and healthy workforce.
 |
| Abhimanyu Rishi |
(Author Abhimanyu Rishi is the founder and director of Bhookha Haathi. Views expressed in the article are of the author.)
Send us your feedback at startupterminal@gmail.com
