The future of health: balancing optimism and caution in AI

Every facet of the health and wellness industry is being fundamentally transformed by technology. In this digital and AI-accelerated era, health and wellness are becoming connected, holistic and personalised, which is transforming what, how and to whom businesses deliver products and services and for.

In our most recent Exchange, leaders from the business community debated the balance between the need for innovation, emerging tech and ethical considerations needed to guarantee a future where we all can thrive. Here are some of the key takeaways from the conversation:

• Optimism and hope beyond the hype. Health tech presents tremendous opportunities to reshape our future healthcare experiences, accessibility and outcomes. This makes the fact that it’s projected to grow at an impressive rate of 37% YoY an exciting prospect.

“If you’re a young person the best place to invest your human capital is in healthcare AI”. Pivot Podcast (The Way of Product Design) — recommended by an Exchange leader

• AI is transforming access and engagement. Innovative companies are using tech to overcome traditional barriers to patient engagement. Whether it’s startups providing comfortable at-home smear tests and genetic indicators of early menopause or using at-home diagnostics and treatment plans to overcome the issue of fear of going to the dentist (a shocking 25–26% in the US, 50%+ in India). Though there are question marks about the accuracy of all remote diagnostics and interventions, overcoming apathy is a positive and necessary first step.
• Personalisation just got truly personal, yet the potential still remains untapped. Companies are leveraging AI and machine learning to personalise supplements and diets based on individual biomarkers and chronic conditions. One exchange leader from a health, hygiene and nutrition consumer goods business spoke about ELO Health. Elo uses blood and Apple Watch data to personalise supplements, and most importantly, enables users to track and adjust these based on the results. Consumers are more informed about their own health, what works for them and therefore are becoming more sophisticated shoppers. Businesses should recognise and respond to this shift and leverage these new technologies to their advantage.
• Health data in the hands of clinicians may be more impactful. Health is in the hands of consumers, expanding the notion of where and how we access healthcare, the shift toward consumer control and accountability in healthcare gaining momentum. But there’s a balance to strike, Exchange leaders cautioned against data overwhelm. Putting so many different data sets in consumers’ hands and expecting them to connect the dots and keep track may be expecting too much. One exchange leader emphasised the value of putting the data in the hands of the clinicians who are qualified to know how to best use it.

“Home medical devices are a choice. Their biggest benefit is the ability to assist with remote intervention. The more you know, the sooner you know, can only lead to a better outcome.” — Exchange leader

• It’s easy to forget that data represents real people, but true representation is at risk. The collection and use of personal health data raise concerns about privacy and security. Women are one of the most at risk groups, according to one of our Exchange leaders. A great example is Roe vs. Wade, where women deleted period tracking apps to protect sensitive information about their abortion plans. Transparency and choice are essential, but there is a need for better understanding and communication regarding data collection and usage — But that’s not all. The discussions raised great concern about bias and inaccuracies in data, which can lead to erroneous outcomes and adverse effects on patient care and increase rather than decrease health inequalities. An example is genomic tests for breast cancer which overlooked certain ethnicities, resulting in missed diagnosis and inadequate treatment plans for affected individuals. It is crucial that as we develop and evaluate AI systems there is rigorous testing and risk assessments for mitigation of biases. We heard from one leader about a practical framework they’re developing, that incorporates technical, legal, ethical and governance aspects, to overcome bias and de-risk the implementation of AI solutions within the NHS.
• Trust is crucial for the successful adoption of AI in healthcare. Many clinicians still express scepticism, with 50% stating that healthcare is not yet ready for AI. As one Exchange leader pointed out, Radiologists, for instance, have admitted to feeling uncertain about how AI gets to the answer, leading to increased time per case as they re-review and try to validate the output. Establishing trust among healthcare professionals, patients, and society at large requires transparency, explainability, and a focus on ethical considerations.

This discussion was hosted by our Magnetic Health and Wellness experts Lucy Willett and Mireille Toyn. To explore this topic further, get in touch with them at Lucy.Willett@wearemagnetic.com or Mireille.Toyn@wearemagnetic.com.

Our next Exchange will be in September. Follow us on Eventbrite to get the latest updates.

Author: Prudence Foster