Around eight in 10 pharmaceutical and life sciences companies have adopted artificial intelligence (AI) at a small scale. However, only around one in 10 companies have integrated AI into their functional procedures, according to a joint Nasscom and Kantar survey titled ‘Advancing Healthcare in India: Navigating the transformative impact of AI’.
The use of AI can reduce drug discovery costs, accelerate time to market, and improve clinical success. It helps healthcare providers streamline the patient journey, reduce diagnostic errors, enable personalized treatments, and preventative care.
Challenges in adopting AI include lack of specialized talent, inadequate budget allocations, data complexity, and scale issues. To scale AI in the Indian healthcare market, companies need to strengthen the fundamentals, infrastructure, skills, planning and implementation, scalability, and regulatory frameworks. The survey interviewed over 75 companies in the healthcare sector.
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First published: August 18, 2024 | 10:17 p.m. IST
