Generative Artificial Intelligence (GAI) is shaping up to be a game-changer in Australian healthcare, offering automation, advisory services and advanced data analytics capabilities, highlighting its potential to serve as a co-pilot for medical professionals, according to a collaborative report compiled by Microsoft (NASDAQ:MSFT) and TechCouncil of Australia.
This technological advancement presents an economic opportunity worth A$5-13 billion for the country, streamlining medical administration and improving patient care – signalling a transformative shift in the sector.
For nurses, 25% of the tasks can be augmented and another 5% can be potentially automated – allowing nurses to spend more time with the patients.
The report highlights that more than 30% of new drugs will be potentially discovered using GAI by 2025.
GAI can also create synthetic patient data at scale and at a reduced cost, presenting opportunities for research and development.
Australia's economy is set for remarkable growth in 4 key sectors thanks to the power of AI!Read our report to deep dive into these sectors and find out how AI can transform them! https://t.co/hgLw1vM8SM #AIinAustralia #economicgrowth #techimpact pic.twitter.com/zrIeMa9n74
— Tech Council of Australia (@techcouncil_aus) August 10, 2023
Automating administrative tasks
Generative AI offers substantial benefits in automating medical administration.
The technology can transcribe consultation audio to text, thereby generating precise medical notes for staff.
Administrative tasks such as patient check-ins, insurance verification and referrals can also be automated, significantly improving operational efficiency.
Advisory services
Beyond automation, GAI serves as a creator and an advisor.
It can generate relevant questions based on a patient's symptoms, medical history and demographic data.
Chatbots employing GAI can offer patient-specific educational content and post-care recommendations.
The technology also has the potential to train junior medical professionals, especially in underserved areas, increasing healthcare accessibility.
Future of self-service and drug development
Personalised healthcare is emerging as the future, with GAI leading the charge.
An overwhelming 93% of people have expressed interest in using digital self-service for pre-visit tasks.
In drug development, GAI can analyse large datasets to assist in generating synthetic data, thereby expediting the drug development process and facilitating overseas market entry for med-tech products.
Did you know that Generative AI is already creating value for researchers by helping co-pilot their work? Find out how in our report 'Australia’s Generative AI Opportunity' here: https://t.co/hgLw1vM8SM#generativeAI #techinnovation #australiantech pic.twitter.com/uQK4kqYzvL— Tech Council of Australia (@techcouncil_aus) August 29, 2023