IN BRIEF:
• According to the 2024 EY CEO Outlook Pulse Survey, artificial intelligence (AI) is expected to significantly reshape healthcare — 42% of health executives interviewed globally anticipate emerging technologies like AI to drive industry change, and more than 43% of CEOs surveyed have already established an AI task force to lead this transformation.
• AI is supercharging digital transformation in healthcare, accelerating the development of future care models that promise more efficient resource use and improved patient outcomes.
• Taking a human-centered approach can enable leaders to carefully balance opportunities with the challenges of utilizing AI tools and better understand implications for patient safety.
Health executives are cautiously optimistic about the potential impact of AI in healthcare. The EY CEO Outlook Pulse survey found that 42% of global healthcare CEO respondents believe that emerging technologies like AI and new regulations are likely to have the greatest influence on the industry in the coming years, followed by evolving patient needs and expectations.
While AI is not a panacea that can solve all problems, healthcare leaders recognize its transformative power. Around 55% of healthcare CEOs surveyed are already actively leveraging disruptive technology to capitalize on opportunities within the industry. The practical use of AI in healthcare can be explored across three categories: preventive care, efficiency in patient journey, and resource optimization.
ENHANCING PREVENTIVE CARE
Among its different practical use cases in healthcare, predictive capability is viewed as one of AI’s core strengths. With the rising availability of personal health data coming from the increased popularity of smart wearable devices, AI presents many interesting opportunities for preventive healthcare. AI can supercharge data analytics, which could drastically improve the ability of healthcare providers to accurately detect medical risk factors and allow for earlier interventions — ultimately improving patient outcomes and reducing healthcare costs.
Other AI applications in development include early disease detection and personalized medicine. AI algorithms can aid in the analysis of medical images to generate more accurate prognoses, which could help identify conditions early on and recommend tailored treatments based on individual genetic profiles and lifestyle factors.
STREAMLINING OF CARE PROCESS
Digital channels for self-care and self-service are becoming increasingly popular as they offer a convenient — and sometimes even more affordable — way to manage health concerns. Innovations such as AI-powered chatbots have enabled a more streamlined patient journey, allowing patients to get quick response and access to information, routing them to appropriate care professionals, and assisting them to book and manage schedules of appointments.
OPTIMIZING RESOURCE ALLOCATION
While AI developments around diagnostics and care delivery receive more limelight, a lucrative but often unnoticed area of AI application in healthcare is the automation of administrative tasks. AI can support care professionals by performing routine tasks like coding medical records and generating reports, freeing up their time so they can focus more on patient care.
For health organizations in the early stages of digital transformation, AI strategies employed in the back office are also perceived to be the quickest and safest ground to learn how to manage and govern the technology. As governance matures, health organizations can adopt more complex AI use cases and move closer to realizing the full potential of AI in health transformation.
HUMAN-CENTERED APPROACH
The transformative potential of AI in healthcare, despite its promise, is not without challenges. The adoption of AI across all industries is a complex endeavor and leaders need to carefully balance opportunities with various challenges including security, privacy, and integration. What makes the healthcare industry unique is its direct interface with patient safety and health outcomes, especially in the context of clinical services. Fortunately, healthcare teams have significant experience in building safeguards to mitigate risks associated in deploying clinical innovations.
The narrative around the role of AI has evolved in recent years. The initial hype of AI replacing healthcare professionals has shifted to a more collaborative posture between technology and humans. Today, the focus is on how AI can be used to augment human capabilities rather than replace. By combining human empathy and expertise with the power of AI, a human-centered approach can unlock sustainable transformation in healthcare — empowering organizations, professionals, and patients.
AI IN PHILIPPINE HEALTHCARE
Within the local context, there have been significant strides towards integration of AI in healthcare, with health organizations increasingly digitizing operations and various startups driving medical innovation. However, several hurdles still exist that hinder the full realization of AI application within the industry.
The lack of adequate infrastructure to support technological innovation remains a fundamental issue, particularly in rural regions where facilities typically lack reliable internet access, up-to-date equipment, and robust digital systems. According to the World Bank, the Philippines has lagged its regional and global peers in terms of broadband infrastructure investment, with funding dropping from $2.2 billion in 2018 to $1.8 billion in 2022. All things considered, the regulatory environment for AI applications, specifically in the healthcare setting, is still nascent and developing.
Clear guidance and standards are necessary to ensure that AI-powered solutions are safe, effective, and ethical. Addressing these challenges is crucial for maximizing the benefits of AI in the Philippine healthcare system.
This article is for general information only and is not a substitute for professional advice where the facts and circumstances warrant. The views and opinions expressed above are those of the authors and do not necessarily represent the views of SGV & Co.
Darren Garcia is a strategy and transactions (SaT) manager and Victoria Gatmaitan is an SaT associate, both of SGV & Co.