Page 20 - The South China Business Journal

D.C. TODAY

THE TRANSFORMATIVE POWER

OF AI IN HEALTHCARE

By Suyash Gupta and Abel Torres, U.S. Chamber of Commerce

As AI continues to revolutionize the
healthcare sector, policymakers must
collaborate with industry, ensuring
e昀昀ective AI for the global good.

rti昀椀cial Intelligence (AI) is revolutionizing diagnosing diseases at early stages, where timely
Ahealthcare on a global scale, offering solutions intervention can signi昀椀cantly improve prognosis.
to some of the world’s most pressing health
challenges. In both the public and private sectors, AI Personalized Treatment Plans: AI and machine
is poised to signi昀椀cantly improve patient and public learning can predict disease prognosis and
health outcomes worldwide. therapeutic responsiveness to tailor treatment
plans speci昀椀c to individual needs, considering
Global AI policies and initiatives such as the EU the individual’s unique genetic, environmental,
AI Act, the G7 Hiroshima Process, and the recent and lifestyle factors. This personalized approach
AI Action Summit in Paris all aim to harness AI’s ensures that more effective, targeted therapies
potential while ensuring ethical standards and can be offered at a lower cost through accelerated
robust governance. These efforts are not just about drug discovery and optimized clinical trials.
regulation—they are about enabling responsible AI
deployment in critical sectors. Operational Ef昀椀ciency: As the world is facing
a looming healthcare workforce shortage, AI-
One such sector is healthcare, where AI’s evolving powered systems can streamline administrative
capabilities are poised to bridge gaps in access tasks, like scheduling, billing, and patient
to care and improve the quality and ef昀椀ciency management, allowing healthcare providers to
of medical services worldwide. This forward- focus on delivering patient care.
looking approach is essential for creating a
regulatory environment for healthcare AI that can Driving Innovation and Safety
adapt to the rapid pace of innovative lifesaving
technologies. Regulatory frameworks for AI With these advancements in healthcare come
must be 昀氀exible and sector-speci昀椀c; otherwise, regulatory challenges that must be addressed to
regulations may thwart innovation. ensure the safe, ethical deployment of AI technologies.
Regulatory frameworks provide guidelines and
The healthcare sector is already highly regulated, standards that help mitigate risks associated with
and policymakers must engage with the industry AI, such as biases, data privacy concerns, and the
to ensure AI rules re昀氀ect real-world use cases such potential for unintended consequences.
as streamlining clinical trials, creating operational
ef昀椀ciencies, and enhancing diagnostic accuracy. International organizations, including the G7,
G20, WTO, and OECD, are actively shaping
How is AI Improving Healthcare? the global AI agenda through their own global
governance frameworks. For instance, the OECD
Enhanced Diagnostics: Healthcare workers can AI Principles offer a foundational framework for
leverage AI algorithms that analyze medical guiding the development and governance of
imagery, including CT and retinal scans, chest AI technologies. These principles recognize the
X-rays, and mammograms, to better identify necessity of a stable policy environment fostering
patterns and predict outcomes with remarkable innovation and trust in AI.
accuracy. Researchers in the United Kingdom and
Saudi Arabia found that AI-powered diagnostic To drive innovation while ensuring safety,
tools were able to classify heart disease with 93% policymakers must work with industry to ensure
accuracy. This capability is particularly bene昀椀cial in that AI technologies are developed and deployed

17 AMCHAM SOUTH CHINA