World Economic Forum's 14th AMNC23: what needs to happen for AI to improve healthcare?

The World Economic Forum's 14th Annual Meeting of the New Champions took place from 27-29 June and had a full session dedicated to "Healthcare Systems of Tomorrow"

Leaders from across the world discussed the potential of AI to improve health outcomes at the World Economic Forum's 14th AMNC23.

What emerged is that many countries are working on AI regulation to ensure avoiding the pitfalls of the technology, such as bias, but also working out how to implement it in valuable ways. Here are some of the key quotes that emerged during the session on Healthcare Systems of Tomorrow.

  • We need quality data

AI is only as good as the data you have to train the models, and right now we are "scratching the surface" of what biology can do. One of the things that is going to help engineer biology in a way that can bring forward useful products is finding a way to do a lot of experiments in a very efficient way. By leveraging the latest advancements in automation and robotics, we can do a lot of experiments and generate a lot of data. For any good AI model, we need to have good-quality data to train the model.

  • Governments can speed up innovation

Governments can encourage sharing information and technological expertise across-the-board with different entities because it is very important, and can reduce unnecessary overlapping, speeding up new ideas and innovation in health and medicine development. They can also help support the financing of innovation through taxation policy, to incentivize companies to invest in research and development.

  • We need to collaborate to drive change

Innovation alone is not enough to address ever-increasing healthcare challenges. Collaboration and partnership among stakeholders such as societies, academia, and industry peers, as instrumental for companies to work together to create an ecosystem to drive change and increase access to patients in need.

  • AI is just one of the tools in the toolbox

AI technology is bringing a lot of impact to healthcare development and its utilization has been increasing across different sectors in the value chain, including drug discovery, clinical trials, manufacturing, quality control, and even manufacturing - but AI will not replace fundamental research, it is a part of the solution. It is a tool and the more researchers understand the scientific insights, the better they can train these models and it is an ongoing leap from there.

  • We need guardrails for AI in healthcare

It is difficult for AI to replace the human mind in certain fields. If AI is not regulated, it could potentially cross red lines and have a negative impact. If you look at the hypothetical examples in healthcare fields, unverified medical information used by generative AI could mislead the public.

  • The AI moonshot can make healthcare fairer

AI is making the health system more equal, and fairer. Researchers are using it to help local hospitals improve diagnostic capacity. With a digital twin, they are able to offer innovation companies, and pharma companies more insights to better serve people.

Watch the full session here

Read the full Report here

Date: 26/07/2023 | Tag: | News: 1487 of 1573
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