)
Almost half of healthcare and pharmaceutical companies in India are expected to integrate generative artificial intelligence (GenAI) solutions within the next year, according to a recent report by EY-Parthenon. The study reveals that while 28% of these companies have already implemented GenAI solutions, an additional 48% plan to do so in the coming year. This shift represents a significant development in an industry known for its conservative approach to adopting digital technologies.
The report highlights the potential of GenAI to address the demand-supply imbalance caused by a shortage of clinical and non-clinical talent in the Indian healthcare system. By reducing this imbalance, GenAI can enhance efficiency and responsiveness throughout the value chain. In fact, 60% of survey respondents from the sector believe that GenAI will have a high impact on the entire value chain.
The study also emphasizes the potential of GenAI applications to expedite the assimilation of cutting-edge technologies in the pharmaceutical sector. GenAI holds promise in catalyzing drug discovery, aiding clinical trials, enabling precision medicine, and streamlining healthcare operations. With the ability to analyze vast datasets and identify potential drug candidates, AI-powered algorithms can significantly reduce development timelines and costs.
Furthermore, the report indicates that millions of Indian citizens stand to benefit from next-generation AI applications, particularly in the healthcare and drug discovery sectors. While some organizations are already piloting GenAI in controlled environments, 80% of surveyed firms admit that they are not fully prepared to embrace this technology. Nevertheless, there is a strong interest among healthcare and life sciences companies in establishing the necessary infrastructure.
Overall, the integration of GenAI solutions in the healthcare and pharmaceutical sectors has the potential to revolutionize the industry, making it more efficient and responsive to market dynamics.
According to a recent report, around half of health and pharmaceutical companies are expected to integrate GenAI (Genomic Artificial Intelligence) solutions within the next year. GenAI solutions combine genomics and artificial intelligence to analyze and interpret vast amounts of genetic data, enabling personalized medicine and more targeted therapies. This integration is believed to significantly enhance healthcare outcomes by improving disease prediction, drug discovery, and treatment efficacy. With the potential to revolutionize the healthcare industry, GenAI solutions are increasingly gaining traction among industry players.
Disclaimer: Only the headline and content of this report may have been reworked by Newsearay, staff; the rest of the content is auto-generated from a syndicated feed. The Article was originally published on Source link
)
)
)