Disrupting Healthcare: The AI Revolution Unveiled

AI, ever since its application in various sectors, has been a true game-changer. There are cases where people have been utilising AI services for their fitness goals, thus normalising its use in their daily lives. Such entrenched is AI in the healthcare sector that, according to BGV, it has drawn an investment of Rs. 54.78 thousand crores by the beginning of the current decade. Tech giant Accenture is of the opinion that AI is more than capable of saving Rs. 12.45 lakh crores by the end of 2026. Thus, little more can be added to emphasise the value that AI currently holds for tech tycoons.

AI has been dominating almost every sector because of its brilliant ability to process and analyse huge chunks of data meaningfully. It sure cannot ‘create’ anything, but if relevant data is fed into its machine-learning process, there is scarcely any logic that it cannot interpret from it. In this article, we will try to look at what the AI revolution means for the healthcare industry, and how it has shaped the way people look at healthcare.

Effects of the AI revolution on healthcare

AI intervention in any sector has to be understood as a tool that makes human-led manual processes easy, rather than as a replacement for the intellectual component of it. While carrying out this function, AI has had a profound impact on –

• Diagnostics: AI has changed the course of the diagnostic process by using its ability to process voluminous and complex data. AI can revolutionise the drug discovery process by giving medical professionals interesting insights on existing scientific data. So, while AI cannot be creative, it can very well fuel the creative thinking process of healthcare and medical professionals. AI can perform this operation better than human beings because of its superior machine-learning process that can map logic out of seemingly unconnected data. 
• Drug testing: Testing a new drug is a labour-intensive process that can take years of research and identification before it can yield positive results. From devising a testing regimen to identifying individuals who would be perfect for testing, AI can save professionals years of labour. Moreover, the healthcare sector can cut down the expenses meant for this purpose because of this change in methodology.
• Identification of health risks: We have already talked about AI’s potential to deal with big data. By making use of these resources, AI can identify the individual patient’s lifestyle issues by analysing the variable functions related to the individual. Therefore, it can effectively alert the patient about the detrimental aspect of their lifestyle and prevent possible health risks. Moreover, AI can take a crucial role in the health-risk estimation of an individual, thus providing health-insurance companies with more clarity on their subscriber. Thus, a possible tussle concerning the use of medical facilities can be nipped in the bud.
• Robotic surgery: Robots have been used in surgery for a few decades for their ability to assist medical professionals in complex surgeries. If AI can be integrated with the robotic mechanism, robots can perform better during surgeries with striking precision, Thus, human errors can be totally left out, making way for a successful surgery every time.
• Virtual nursing: Often, people need to visit their physicians for reasons that are not that pressing. With virtual nursing assistants powered by AI, individuals can be assisted at home, without the need for them to visit the doctor’s clinic. This aspect can streamline the patient pool remarkably, which is a great help to the doctors who are already overworked.
• Supply chain management: Healthcare investors are keen on optimising the 

Supply chain management process so that they can identify the snags in revenue generation and maximise the same. AI can offer significant help to them in this regard by identifying the areas that can be taken care of to achieve cost cutting. To be more precise, inventory costs cover a sizeable part of investment towards a healthcare establishment. AI can help, by using its robust data interpretation skills, predict the stocking needed for the inventory without incurring any real loss. It works in a fashion similar to how AI helps other sectors like NBFCs to maximise their profit.

The final word

Thus, AI has been irrevocably engaged in the online marketplace scene, and investors cannot think of optimising their revenues without its help. The stakeholders of AI in that regard is diverse, from actual users of it who benefit from it, to the investors who understand it from the stock market perspective, Either way, AI has made it difficult to imagine businesses and enterprises making do without it. However, as a line of caveat, stakeholders must be prepared for a changed marketplace that demands better clarity and accountability from all involved. AI is a tool that is to be used ethically and free from biases and breaches towards building a better and advanced future.