Generative Artificial Intelligence (GenAI) presents a promising opportunity to overhaul India’s healthcare system by providing a technologically sophisticated healthcare system, greater efficiency, and improved patient outcomes. In-depth analysis of GenAI’s significant effects on the Indian healthcare system is provided in a recent research from PwC India. The report emphasizes how GenAI may improve clinical judgment, tailor patient care, and promote operational excellence.
The paper highlights the noteworthy advancements made by GenAI in the healthcare sector, highlighting its uptake by trailblazing institutions and its profound influence on market dynamics. Healthcare has emerged as a leader in utilizing GenAI to harness advanced analytics, intelligent insights, and tailored interventions for improved patient outcomes and affordability, in contrast to other industries where AI adoption has been more sluggish.
India had a notable increase in GenAI companies between 2021 and 2023, indicating growing interest in and investment in AI-driven healthcare solutions. The estimated compound annual growth rate (CAGR 2023-2030) of 27.66% highlights the swift development and vast potential of GenAI, which is expected to reach a USD 4.20 billion market size by 2030.
The foundation of GenAI’s capabilities is made up of critical technologies like natural language processing (NLP) and predictive analytics, which allow for data-driven care pathways, individualized patient encounters, and real-time clinical decision support. With unmatched potential for progress and efficiency throughout the healthcare continuum, GenAI’s technological prowess places it in the vanguard of a revolution in healthcare.
PwC India’s Advisory Leader Arnab Basu highlights the revolutionary potential of GenAI, which extends beyond improving patient care to optimize operational procedures. With its capacity to streamline processes, provide intelligent insights, and maximize resource use, GenAI represents a major advancement in the development of a technologically advanced healthcare environment.
The paper does, however, also address important issues like data privacy, security, and the ethical application of AI, in addition to its potential advantages. It emphasizes how crucial it is to have thorough governance frameworks that reduce risks, guarantee the appropriate use of GenAI technologies, protect patient privacy, and respect moral principles.
PwC India’s Digital Healthcare Leader, Sayantan Chatterjee, emphasizes the use of GenAI in tackling the problems that are intrinsic to the Indian healthcare system. Through the use of patient health data, made possible in part by programs such as the Ayushman Bharat Digital Mission (ABDM), GenAI supports a research-led, data-driven strategy that puts an emphasis on patient-centric care and promotes universal health access.
The research serves as a strategic roadmap for stakeholders in the healthcare industry, as highlighted by Rana Mehta, PwC India’s Healthcare Leader. It seeks to assist technologists, legislators, and providers in negotiating the intricate concerns of data governance, privacy, and ethical AI deployment while maximizing the promise of GenAI.
The main takeaway from the paper is a call to action for healthcare executives to strategically use GenAI in order to promote innovation and maintain the values of moral, secure, and fair healthcare delivery. It promotes a well-rounded strategy that minimizes any hazards and optimizes the advantages of GenAI, eventually leading to beneficial changes in India’s healthcare system.
