With startups and various MSME companies offering Artificial Intelligence as solutions to complex challenges, we know that it has grabbed the market and is at the forefront. Amidst this, it is being proven that AI has become a champion in the Healthcare industry. According to a Forbes article, the total of public and private sector investment in AI for healthcare is stunning and it is expected to reach $6.6 billion by the year 2021. Accenture also predicts that the top AI-based applications may help in annual savings of $150 billion by 2026.
And for India, the statistics look promising as the rest of the world. Niti Ayog has predicted that a gradational USD 957 billion could be added to the GDP by the year 2035 by adopting AI in various sectors like Healthcare and Education, which will be boosting India’s annual growth by 1.3 percentage points by the year 2035. This is excellent news for both the industries and as for Healthcare, the COVID-19 has projected a dire need of better infrastructure and facility for India.
Why is India a great platform to experiment for AI in Healthcare?
A country like India provides a unique opportunity for research and experiment in Healthcare. It demands off-beat solutions for diverse challenges. Be it rural-urban divide, demographic, skill or infrastructural, India has been an innovation ground to bridge a gap between these. These contemporary innovation challenges would help AI prosper to its peak in the healthcare realm.
How is AI useful in the Healthcare Industry for India?
Among its numerous benefits, there a few that Artificial Intelligence has aced for the medical sector:
- Diagnosis, Prognosis and Prevention
The old story would go by the norm of diagnosis, treatment and rehabilitation. However, this process can be sped up with the help of technology, Aka. Artificial Intelligence. The agenda is to cure and serve patients fast. And AI is offering a better decision-making advantage with precise facts and figures.
- Update and Evolve
With every new research, there is a probability of an improved course of treatment and prevention. While at present, the absence of rapid testing and development makes this entire process becomes redundant with time. AI and Machine Learning are all about efficiency and accuracy, which helps the process to amplify and evolve consistently.
- Cut down on Healthcare cost
Technology enables humankind to advance in due course of time. The role of AI in the Healthcare sector will not just make this service immaculate, but it will also reduce the hefty costs that come with it. Timely patient care with deep learning will save time, effort and make the entire process cost-efficient for all.
The only need is to move forward with time. Big Innovation Centre, India is determined to do the same. Educating and supporting students, working professionals and even institutions learn all about Emerging Technologies and implement it to find solutions. BIC India is meant to look into the Global Perspective of Innovation and invention through a Kaleidoscope of opportunities. While we strive towards contributing much to society, we help it function better. Our efforts are to answer pertinent questions for people and their business.