In our fast-paced world, big data and machine learning are game-changers, impacting healthcare and offering a promising future for AI in diagnostics and treatment. At the Healthcare Summit 2023 by VCCircle held on October 20 in Mumbai, industry leaders discussed trends related to new technologies in healthcare.
In a panel titled "The Cusp of Transformation — Moving Towards AI & Automation," Nikhil Shembekar, VP-Corporate IT at Sun Pharma, and Abhinav Kashyap, Head of Technology at GSK Pharmaceuticals, shared insights on how AI and data are reshaping the industry and where the big opportunities lie.
Kashyap emphasised the rapid evolution of technology and machine learning. He pointed out that while deep learning has dominated AI advancements over the past decade, the real transformation is now occurring in primitive AI. This shift is changing the game and offering India an opportunity akin to its rapid transformation in the telecom sector.
He explained, "The new-age technology doesn't demand structured data and can handle unstructured data. This facilitates the generation of more data using AI, training models, and leveraging AI and machine learning for various applications. The potential has significantly expanded in recent years, with the development of virtual assistants and co-pilots already in progress."
However, Kashyap also stressed the importance of practical, cost-effective technology solutions. Many startups are building complex layers around existing tech from companies like Microsoft and Google, which can drive up costs. India's focus on developing foundational technologies domestically aims to reduce expenses and increase access to technology.
Shembekar also highlighted their innovative approaches, saying, "We've integrated QR codes into our medicines for easy access to expiry dates and product information. This simple technology also facilitates patient engagement through videos and literature.
Additionally, we're leveraging AI and computer vision cameras to ensure product safety and regulatory compliance, addressing concerns such as impurities. In the realm of clinical trials, we've witnessed promising outcomes with AI implementation. While we briefly explored VR, we've primarily focused on QR codes and AI technologies for our advancements."
The healthcare industry is experiencing transformative changes in four key areas. First, drug development is accelerating. Second, care delivery and diagnosis are improving. Third, automation and AI are enhancing manufacturing productivity. Finally, there are opportunities in healthcare administration, particularly regarding providing clear information on facility offerings and providers.
But amidst these opportunities, what challenges and issues the industry currently confronting, and how can organisations make the most of existing solutions while awaiting further advancements?
To which Kashyap suggested, "There are opportunities to use technology to address ecosystem problems and invest in innovative solutions. I urge every organisation, no matter how small, to seek digital solutions for their ecosystem, including vendors, customers, and end-users. Additionally, there's a wealth of exciting innovation happening in the startup world in India. While startups face their own challenges, there are ample opportunities for larger organisations to engage with these startups and invest in promising ideas."
Shembekar added, "For Indian pharma companies, dealing with cost and compliance is paramount. Advancements in AI and digital technologies are being utilised by multiple Indian companies in the sector to enhance compliance and quality, reduce operational costs, and improve overall efficiency and productivity."
