Artificial Intelligence, the science of inducing the simulation of human intelligence in machines, especially computer systems, is the future of all industries. There have been many instances of AI taking over manual work to increase efficiency and decrease work load in the industrial sector.
The technology is also expected to have a boom in the medical sector because of the constant need of improvement of the machinery and medical equipment. This advancement in science could save a million lives by helping the doctors in diagnosing, treating, preventing, and rescuing the diseases by the push of a button.
How it works is, basically a company which is trying to develop an AI for a particular hospital or even for the government, has to take in a ton of data from a ton of people. They stack up all the data in their database and categorize them to form a proper observation out of each one. The make the respective reports and compare the health results which leads them to understand the root cause of a problem or in some cases even detect a disease which can potentially cause an epidemic. This analysis of the information is the most important part of the whole survey because it has the capability of avoiding a fatal disease which might be on the verge of spreading all over the city and possibly the entire country.
The case in point is that the new startups that have been popping up these past couple of years in the AI field have actually had a significant impact on the health care facility of the country. There have been thousands of startups that have teamed up with local hospitals in Asia which have come up with new developed apps which can diagnose chronic diseases by just entering the blood, urine, and other medical reports in detail. For example, this Mumbai-based Qure.AI was able to train its artificial intelligence (AI) algorithm to analyse X-rays and head CT scans, develop two market-ready products, and obtain CE certification in three years, thanks to the India advantage.
Most countries have realised the potential that the AI technology holds and have started investing $1.6 billion in 2017 to $3 billion in 2018, according to Tracxn. Tech giants like GE Healthcare, Philips, Samsung, Facebook and Google are investing across disease monitoring and prevention, diagnostics, robot-assisted surgery, and solutions that leverage existing healthcare EMR data to automate workflows and virtual nursing.
But the following are points to help new startups gain popularity:
- Realize that the main motive of the App is to help the Healthcare industry and not run after competition.
- To make your software precise, gather as much information as possible on a large scale
- You need an excellent app to help saves lives not just an algorithm
- Gain a reputation among different companies and hospitals that you want to be linked with to get a good future stamp
- Only get into the market if you are certain that your app is capable of doing the unthinkable
We are optimistic that AI will disrupt the way healthcare is delivered in positive ways by giving doctors more tools, better information and more accurate analysis to help them deliver high quality, personalised healthcare. And healthcare startups from Asia will help lead the way.
