The Technological Revolution of the Healthcare Industry
Abhimanyu spearheads the management and growth of the company, formulating long-term and short-term growth plans to enhance revenue and operations aligning with macro plans. With the exodus of migrants back to their hometowns, the healthcare providers face a challenge in procuring additional manpower and equipment. A fiscal stimulus package from the government can help bridge this gap, as the sector will channelize the funds in technology integration.
After the ban on Chinese apps, the Make in India discourse has gained momentum. India has imported disposables and capital equipment like orthopaedic implants, gloves and magnetic resonance imaging devices from China, in the past. To fill this sudden gap in the market, Indian manufacturers are now actively vying to provide these medical products.
Global A.I Revolution
The Industrial Revolution 4.0 has taken a gamut of sectors by storm. One of the key beneficiaries of the Artificial Intelligence discourse has been the healthcare sector. According to a report by Accenture, growth in the AI health market is expected to reach $6.6 billion by 2021—that’s a compound annual growth rate of 40 percent. In just the next five years, million to $6 billion.
AI has played a huge role in the advancement of medicinal research. Be it drugs, vaccines, medical equipment or radiogenomics, Deep learning, a subset of A.I that uses convolutional neural networks, has driven advances in medicine. The new-age technologies such as IoT, Blockchain and Big Data analytics also key figures to the paradigm shift seen in recent times.
Business of Emotion
There has been a steep learning curve in the domain of Preventive healthcare in the last couple of years. The Cloud amasses a large amount of data that is processed and filtered to garner insights, identify trends and make predictions based on past medical data to
analyze risk of a certain disease. In the healthcare domain, the safety of the consumers is of utmost importance as the system deals with sensitive data. The government needs to provide policy frameworks to protect sensitive consumer data and safeguard transactions of profiles.
Many diseases have psychosomatic underpinnings, which, when prolonged, culminate into a physical disorder. Detection in an early age or genetic inclination towards a hereditary disease is rendered possible by AI, wherein the patient is kept in the loop and is advised to make certain lifestyle changes concerning diet or fitness. AI helps in decoding these hidden disease-associated patterns that help experts in creating personalised solutions on the grounds of preventive healthcare.
The COVID-19 pandemic has also highlighted the importance of mental health. Many startups in the Indian ecosystem are developing Natural Language Processing (NLP) based chatbots for mental health consultation as the lockdown has triggered anxiety, fear and clinical depression in people from various walks of life.
Leveraging New-age Technologies
Computer Vision: Technology can be leveraged to identify binary data – people wearing or not wearing masks. The Deep Learning algorithms can be integrated into the CCTV infrastructure in public areas that tend to get crowded. This helps in timely detection of defaulters, allowing for their easy removal from the location, which mitigates the risk of infection.
Robotics: According to a report by BIS research, the global healthcare robotics market was valued at $5.40 billion in 2017 and is estimated to reach $11.44 billion by 2025. This market is forecasted to witness a growth rate of 12.64 percent from 2018 to 2023. On the face of the COVID-19 pandemic, many countries are actively using robots on an operational level in order to curb the risk of infection. These robots are equipped to deliver food and medicines to COVID-19 patients under quarantine or used in disinfecting the premises using UV radiation.
Internet of Medical Things (IoMT): According to a recent report by Deloitte, 500,000 medical technologies are currently available. These internet connected devices are cost friendly and effective. The data collected from daily interactions helps identify trends and loopholes. IoMT mainly consists of sensory devices which can be worn or work on a standalone model used for remote patient monitoring.
Life in a post-COVID World
With Covid-19 cases steadily increasing in record breaking numbers, prevention and safety of people in a country with the 2nd largest population in the world is a challenge. While the government has laid down effective guidelines and protocols, the implementation and real-time surveillance to break the chain of contact is a big challenge as responsibility is shouldered by few. An objective approach is required. The technological diligence deployed on the front lines for doctor-patient safety and digital platforms for disseminating verified COVID related information, are all nuances of a Digital revolution.
Many diseases have psychosomatic underpinnings, which, when prolonged, culminate into a physical disorder. Detection in an early age or genetic inclination towards a hereditary disease is rendered possible by AI, wherein the patient is kept in the loop and is advised to make certain lifestyle changes concerning diet or fitness. AI helps in decoding these hidden disease-associated patterns that help experts in creating personalised solutions on the grounds of preventive healthcare.
The COVID-19 pandemic has also highlighted the importance of mental health. Many startups in the Indian ecosystem are developing Natural Language Processing (NLP) based chatbots for mental health consultation as the lockdown has triggered anxiety, fear and clinical depression in people from various walks of life.
AI helps in decoding these hidden disease-associated patterns that help experts in creating personalised solutions on the grounds of preventive healthcare
Leveraging New-age Technologies
Computer Vision: Technology can be leveraged to identify binary data – people wearing or not wearing masks. The Deep Learning algorithms can be integrated into the CCTV infrastructure in public areas that tend to get crowded. This helps in timely detection of defaulters, allowing for their easy removal from the location, which mitigates the risk of infection.
Robotics: According to a report by BIS research, the global healthcare robotics market was valued at $5.40 billion in 2017 and is estimated to reach $11.44 billion by 2025. This market is forecasted to witness a growth rate of 12.64 percent from 2018 to 2023. On the face of the COVID-19 pandemic, many countries are actively using robots on an operational level in order to curb the risk of infection. These robots are equipped to deliver food and medicines to COVID-19 patients under quarantine or used in disinfecting the premises using UV radiation.
Internet of Medical Things (IoMT): According to a recent report by Deloitte, 500,000 medical technologies are currently available. These internet connected devices are cost friendly and effective. The data collected from daily interactions helps identify trends and loopholes. IoMT mainly consists of sensory devices which can be worn or work on a standalone model used for remote patient monitoring.
Life in a post-COVID World
With Covid-19 cases steadily increasing in record breaking numbers, prevention and safety of people in a country with the 2nd largest population in the world is a challenge. While the government has laid down effective guidelines and protocols, the implementation and real-time surveillance to break the chain of contact is a big challenge as responsibility is shouldered by few. An objective approach is required. The technological diligence deployed on the front lines for doctor-patient safety and digital platforms for disseminating verified COVID related information, are all nuances of a Digital revolution.
