In Short:
Harnessing advanced technologies like AI and Machine Learning can help process large data efficiently, as stated by Deepak Sapra from Dr. Reddy Laboratories. The drug discovery process takes years and costs billions, with a low success rate. Innovation and collaboration with technology are crucial to overcome these challenges. Sunil Savaram noted India spends only 0.8% of profits on R&D compared to South Korea’s 5.2%.
Revolutionizing Healthcare through AI and Machine Learning
Imagine a world where advanced technologies like Artificial Intelligence (AI) and Machine Learning could revolutionize the healthcare industry. Well, according to Deepak Sapra, CEO of API & Services at Dr. Reddy Laboratories, this vision could soon become a reality.
The Power of Data Processing
Speaking at a summit on Navigating Digital Transformation in Engineering and Manufacturing, Sapra highlighted the incredible potential of leveraging AI and Machine Learning in processing huge amounts of data. He emphasized that these technologies could significantly impact the drug discovery process, which currently takes 10 to 15 years and costs around two billion dollars with a success rate of only 30 percent.
Innovation and Collaboration
Sapra stressed that the key to overcoming these challenges lies in innovation and collaboration fueled by technology. He expressed his belief that our mobile phones hold the key to transforming healthcare, turning a large diagnostic lab into a handheld device that is always by our side, much like a trusted shadow.
R&D Spending Discrepancy
Adding to the conversation, Sunil Savaram, Founder and CEO of Plural Technology, raised concerns about the low percentage of profits being spent on Research and Development (R&D) in India. He noted that India allocates only 0.8 percent of profits to R&D compared to South Korea’s 5.2 percent.
As we witness the integration of AI and Machine Learning into healthcare, it’s clear that the future of medicine is being transformed before our eyes. With a focus on innovation and collaboration, the possibilities for improving healthcare outcomes are endless.
