How startups are leading the AI revolution in Indian Healthcare
By Ratna Geetika and DVR Seshadri and Raj Krishnan Shankar
Startups are reshaping healthcare in India by actively producing robust AI solutions to address resource-constraints in the system.
Artificial Intelligence (AI) as support to healthcare decision-making has immense growth potential in India. The deployment of AI in Indian healthcare is burgeoning with startups taking the lead by offering innovative solutions. The ICT (Information and Communication Technologies) sector is also rapidly building AI solutions to address the healthcare challenges in the country. The use and adoption of AI can be seen at varying levels across the healthcare ecosystem. The segments in which AI is being experimented with and deployed include:
Hospitals: The Manipal Group of Hospitals tied up with IBM’s Watson for Oncology, aiding doctors in the diagnosis and treatment of cancer. AI is used to analyze the data, research evidence and improve the quality of the reporting, in turn increasing patient trust. Even software programs such as Microsoft Azure, Machine Learning, Data Analytics, etc., are being used by notable private healthcare providers such as Fortis Healthcare, Apollo Hospitals, Narayana Health, and Max Healthcare to improve patient care.
Pharmaceuticals: The most common use of AI in the pharmaceutical industry is in drug discovery. AI-enabled platforms help pharmaceutical companies by using vast sets of data to quickly identify potential patient response to new drugs that are under development, which helps to develop more viable drugs efficiently.
Diagnostics: India is host to several startup companies that specialize in harnessing AI for effective diagnoses. The diagnosis and treatment not only pertain to physical ailments but also extend to mental health issues. Wysa, an emotionally intelligent chatbot, provides mental health support wherein a person can anonymously chat with an AI-enabled system. The chatbot offers empathetic support and suggests practitioners for follow-on consultation.
The healthcare opportunity for AI entrepreneurs
According to a recent article from the World Economic Forum, the expenditure on AI in healthcare in India is estimated to reach US $11.78 billion by 2025, which is expected to add US $1 trillion to India’s economy by 2035. Moreover, according to the World Economic Forum report of October 2022, India has just 64 doctors available per 100,000 patients compared to the global average of approximately 150 per 100,000. The power of AI applications would help improve clinical efficiency by effectively enhancing the doctor-to-patient ratio, providing high-quality healthcare and training doctors and nurses to handle complex medical procedures. All these point to a plethora of rich entrepreneurial opportunities and a wide canvas for India’s aspiring and talented entrepreneurial youth.
AI in Indian Healthcare: The startup landscape
While AI has been evolving in healthcare, healthcare startups have been the most significant adopters of this technology. During the tough times of the Covid-19 pandemic, AI has played a vital role in areas ranging from diagnosis to healthcare delivery to drug discovery services. In India, several startups are working towards developing deep understanding of the healthcare sector. They deploy AI in this sector to come up with creative solutions.
Over 5000 startups are working on developing AI applications in healthcare in India. We present a few leading startups that have demonstrated their prowess of leveraging AI in providing technology-enabled healthcare services.
Niramai offers effective diagnosis for breast cancer by employing Thermalytix, powered by AI, which uses a high-resolution thermal sensing device and a cloud-hosted analytics solution to analyze thermal images. This is further aided by a web interface, SMILE (Software with Machine Intelligence for Life Enhancement) that helps upload demography information about the patient and her thermal images.
Qure.ai is a successful healthcare startup with a global footprint, which has developed various products using AI as its base. It enhances imaging accuracy by tapping deep learning technology through AI with machine-supported tools. It enhances the capabilities of medical professionals through AI-enabled clinical solutions, diagnosis and treatment. For instance, qER, one of Qure.ai’s products, is an AI based application for CT scan of the patient’s head, which helps in notifying critical diagnosis, thus enabling faster decision-making and enabling the provision of timely care.
BrainSightAI merges Artificial Intelligence (AI) and Neuroscience to enable higher precision in diagnosing neurological and psychiatric problems in patients. It does so with high levels of accuracy. It provides faster and deeper insights relating to these problems, which helps in earlier detection of psychotic disorders.
SigTuple utilizes AI primarily for pathological analysis. Replacing laborious manual microscopy with AI-assisted digital pathology helps to make the diagnosis process better, more affordable, and faster. The core process involves accurate microscopy through AI, robotics, and cloud computing. Its most notable product is the AI100, an in-vitro device designed to automate manual microscopy in diagnostic laboratories, for better outcomes.
HealthifyMe is a healthcare app that uses an AI-based virtual assistant, Ria, to keep in touch with its users and address their queries about fitness, nutrition, and overall health. It offers these services in different languages. This app provides AI-driven dietary recommendations to track calorie intake by suggesting suitable tips.
Cloud Physician offers remote monitoring and consulting services to ICUs of different hospitals. It employs web-based healthcare applications, including AI and ML, to analyze patient data and provide timely clinical decision support.
AI startups and their entrepreneurs are reshaping healthcare in India. The technology has rejuvenated the healthcare sector, fueling active interest in delivering effective clinical outcomes across India. AI’s goal is to augment human capacity rather than to substitute human labor altogether. India is blessed with motivated entrepreneurs who have sound technology acumen. The country also has a congenial startup ecosystem for technology-based startups. The huge demand for healthcare services in the context of a resource-constrained environment are also significant drivers for innovation in this sector. The effective collaboration of all concerned stakeholders, coupled with a robust startup ecosystem, presents a great chance to catapult India’s healthcare system as a leader in the adoption of AI in healthcare.
Authors:
Ratna Geetika and DVR Seshadri, Indian School of Business (ISB)
Raj Krishnan Shankar, Great Lakes Institute of Management, Chennai