Most Indian industries, such as finance, e-commerce and manufacturing, have been gradually adopting AI technologies, including GenAI, to enhance operational efficiency and automate processes.
“On the other hand, in healthcare particularly, GenAI can augment advanced analytics and provide intelligent human-like insights to facilitate clinical recommendations and targeted interventions to improve patient outcomes and affordability,” the report said.
Between 2021 and 2023, the number of GenAI startups in India has more than doubled, while the overall market size is expected to show an annual growth rate (CAGR 2023-2030) of 27.66 per cent, resulting in a market volume of USD 4.20 billion by 2030, it said.
PwC said by leveraging technologies such as natural language processing and predictive analytics, GenAI stands at the forefront of a healthcare revolution, offering solutions from real-time clinical decision support to personalised patient interaction and care.
“Generative AI is revolutionising the healthcare sector, offering unparalleled opportunities for advancement and efficiency. “Its impact spans from enhancing patient care to streamlining operational processes, marking a significant leap towards a technologically advanced healthcare system,” said Arnab Basu, Advisory Leader at PwC India. The report talks about critical issues such as data privacy, security and the ethical use of AI, emphasising the need for comprehensive governance frameworks to mitigate risks and ensure responsible deployment of GenAI technologies.
Sayantan Chatterjee, Digital Healthcare Leader at PwC India, said with its ripple effect, GenAI is helping to bridge some of the inherent lacunae in the Indian healthcare space and enabling delivery of better quality care that is data driven, research led and places Indian patients at the centre.
“The current focus on patient health data driven by Ayushman Bharat Digital Mission (ABDM) makes GenAI all the more pertinent to work towards a universal health interface across the 1.4 billion population,” Chatterjee said.
Rana Mehta, Healthcare Leader at PwC India, said the report aims to serve as a roadmap for healthcare providers, policymakers, and technologists to harness the benefits of GenAI effectively while prioritising patient safety and data privacy.
PwC’s report is a clarion call for healthcare leaders to strategically adopt GenAI technologies, advocating for a balanced approach that promotes innovation while ensuring ethical, secure and equitable healthcare delivery.
