The Indian GenAI market is expected to grow at a CAGR of 23.56% from 2024 to 2030
In a comprehensive analysis, PwC India’s latest report, ‘Understanding the impact of GenAI on the Indian healthcare ecosystem’, provides an in-depth look at the transformative effects and emerging challenges of generative artificial intelligence (GenAI) within the Indian healthcare sector. This study highlights the revolutionary potential of GenAI in enhancing patient care, streamlining healthcare operations, advancing medical research and personalising treatment approaches.
The report underscores significant advancements in healthcare delivery, showcasing how GenAI facilitates improved diagnostic accuracy, operational efficiency and patient engagement, ultimately leading to superior health outcomes. By leveraging technologies such as natural language processing and predictive analytics, GenAI stands at the forefront of a healthcare revolution, offering solutions from real-time clinical decision support to personalised patient interaction and care.
Arnab Basu, Advisory Leader, PwC India states, ‘Generative AI is revolutionising the healthcare sector, offering unparalleled opportunities for advancement and efficiency. Its impact spans from enhancing patient care to streamlining operational processes, marking a significant leap towards a technologically advanced healthcare system. Yet, to fully harness GenAI’s capabilities, we must confront and navigate substantial challenges. This includes adhering to ethical standards, safeguarding data privacy, and ensuring inclusive and equitable technology deployment. Success hinges on collaborative efforts across the healthcare ecosystem, uniting policymakers, professionals and patients to foster a responsible and innovative healthcare future.’
The journey of integrating GenAI into healthcare poses its own set of challenges. The report addresses critical issues such as data privacy, security and the ethical use of AI, emphasising the need for comprehensive governance frameworks to mitigate risks and ensure responsible deployment of GenAI technologies.
Amidst the rapid adoption of GenAI, PwC India introduces a comprehensive framework tailored for the healthcare sector, aiming to guide organisations through their digital transformation journey. This framework emphasises the modernisation of data systems, development of scalable AI solutions, and cultivation of a culture that embraces technological advancement while addressing the nuances of healthcare delivery.
Dr Rana Mehta, Healthcare Leader at PwC India, adds, ‘As we navigate this new era, it is crucial to balance technological advancement with patient-centric values and ethical considerations. Our report aims to serve as a roadmap for healthcare providers, policymakers, and technologists to harness the benefits of GenAI effectively while prioritising patient safety and data privacy.’
Sayantan Chatterjee, Digital Healthcare Leader at PwC India, adds, ‘With its ripple effect, GenAI is helping to bridge some of the inherent lacunae in the Indian healthcare space and enabling delivery of better quality care that is data driven, research led and places Indian patients at the centre. And the current focus on patient health data driven by Ayushman Bharat Digital Mission (ABDM) makes GenAI all the more pertinent to work towards a universal health interface across the 1.4 billion population.
PwC’s report is a clarion call for healthcare leaders to strategically adopt GenAI technologies, advocating for a balanced approach that promotes innovation while ensuring ethical, secure and equitable healthcare delivery. It highlights the sector’s vast potential and outlines strategic recommendations to overcome existing barriers, facilitating the smoother integration of GenAI into the healthcare ecosystem.