GenAI to contribute $100 bn in healthcare savings in Asia-Pacific by 2025

GenAI to contribute $100 bn in healthcare savings in Asia-Pacific by 2025January 28, 2024New Delhi, Jan 28 (IANS) Generative AI (GenAI) will free up to 10 per cent of clinicians’ time, translating into an estimated $100 billion in annual healthcare savings in Asia/Pacific excluding Japan (APEJ) by 2025, to realise more workflow automation and efficiency.By the end of 2027, driven by the demand to scale hyper-personalised patient experiences, improve collaboration, and foster equity, 60 per cent of Asia/Pacific healthcare organisations will double GenAI investments, according to an IDC report.GenAI is emerging as a transformative force in healthcare and is set to impact workforce efficiency and hyper-personalisation in the care processes.“With the advent of GenAI and the need for consumerization of care, the next five years are set to be the defining period for the healthcare sector, and we are currently at the starting point of this exciting journey,” said Manoj Vallikkat, senior research manager, healthcare insights, IDC Asia/Pacific.Driven by the need for improved diagnostic accuracy, speed, and workflow efficiency, care providers in Asia/Pacific will see a 60 per cent increase in AI solution adoption by 2026.By 2027, 50 per cent of the healthcare industry in Asia/Pacific will leverage GenAI to address data and workflow fragmentation across care settings to improve diagnosis and patient safety to scale care anywhere, the report mentioned.By 2026, a doubling of hospital-at-home patients will propel a 55 per cent growth in investments in tech-enabled integrated care initiatives to address patient safety, workforce, and care access concerns in Asia/Pacific.“In the healthcare sector, the unique risks associated with AI are significant, which necessitates a greater focus on explainability and data security,” added Vallikkat.–IANSna/