Day 1: The Future of Health Tech
Authors – Tanmay Bhanushali and Tulsi Mansingka
Photon Legal brings to you the Day 1 of a 4-day E summit on “The Future of Health Tech”. The first webinar was a kick-start to the event in a true sense, with the most diverse yet connected panel of speakers consisting of Mr. Rohit Ghosh, Founding Member of Qure.ai; Ms. Joannah Apelo, Founder & CEO at Reality Well; Mr. Tim Bogdan, Co-Founder at an Elderly Care Startup, Stealth Mode and the webinar was hosted by Mr. Amit Koshal, Founding Partner at Photon Legal.
What is AI and ML?
The session begun with a light yet interesting topic taken up by Mr. Rohit Ghosh. Rohit has more than 100 lectures teaching about AI and ML on YouTube, also Having worked as an AI scientist deeply involved in building R&D products in computer vision area, he simplified the meaning of Artificial Intelligence (AI) and Machine Learning (ML) and explained that AI is a marketing term which could even be simple programs but ML is a field of statistics. These two terms, though used together, are quite different from each other because in ML, you don’t explicitly give instructions, algorithms of a certain situation and reaction to that situation is stored in it, which is not the case in AI.
Problems related to merging AI with healthcare
Mr. Ghosh discussed about the problems faced by Qure.ai while merging AI with healthcare. He pointed out that healthcare is fragmented in our country city wise, the infrastructure and technology available in metro cities cannot be found in lesser-developed cities of the country. In addition to this, healthcare experts such as Radiologists cannot be made available at every hour of need and Qure.ai aims to solve these issues with the help of AI.
Incredible work towards building AI in healthcare
Mr. Tim, a passionate healthcare entrepreneur currently setting up a new business in the digital health field,shared about his thoughtful initiative to help vulnerable group of people like elderlies with healthcare literacy programs. They make an attempt to simplify the contracts & application process by inducing smaller and lesser steps. He explained a new fact that the people in Germany try to avoid bureaucracy, as not everyone is sufficiently educated.
Further, Ms. Apelo shared about her incredible journey from being a licensed healthcare professional (nurse) to building software for helping her patients through AI. She shared a beautiful life lesson of using your strengths in the right way to achieve a goal. Her startup idea is to provide virtual reality programs for the elderly living to decrease their isolation, to interact with people suffering from anxiety, depression. It is also used for Dementia and similar Ailments. This technology is nothing new but who would have thought of playing with Virtual Reality outside gaming sector and using it make such a bigger impact. This initiative is a strong step towards transforming quality of life. Ms. Apelo also pointed out that not only the patients, but their staff is also getting trained for virtual reality experiences in the field of healthcare thereby creating larger impact.
Is your team driven towards the same goal as you?
Mr. Ghosh shared his 10-year goal of achieving a proactive healthcare setup rather than reactive by merging AI with healthcare beyond imagination. To which, Mr. Tim added his startup plan is to solve the real problems that arise when AI is brought into healthcare and discussed about their progress so far. Thereafter, some immensely valuable points were shared by the speakers regarding team building, growth as a startup and the values they follow in achieving their goals. Big goals require bigger efforts? No, big goals require smart efforts! And smart efforts are taken by employing effective techniques in team building for instance, Ms. Apelo shared that one of the important techniques is to trust your team with greater responsibilities. That might come across as a trial-and-error method however, it will ensure growth of the company. Adding to this, Mr. Rohit shared three core values followed by them at Qure.ai viz., Trust, Freedom & Responsibility.
Importance of Intellectual Property
Mr. Amit Koshal posted the question of using Intellectual Property for the inventions for the first time, to which Mr. Ghosh shared how perplexed he was with the idea of patenting an invention or technology because to him new technology was all about sharing, disseminating the knowledge through various forms like research papers and patents countered the idea. More importantly, the company now owns around 7 patents of their own and no one else could explain better that patents ensure the quality of the invention; they justify advancement in technology and can become the biggest asset for the owner company. Adding to this, Mr. Tim shared his intention of owning Intellectual property as their initiative grows further.
Legal and Ethical Challenges in introducing AI into healthcare
The panel while answering the question posted by a participant about legal and ethical challenges, explained about the regulatory bodies such as the European Commission and National Security Commission on Artificial Intelligence in the US, that supervise the entire process of introducing AI and the common legal requirements attached with it. Further, the ethical challenges that await as AI advances. AI is a developing area, mysterious to those not versed with technology and healthcare is a sensitive area, clubbing the two usually makes people uncomfortable. The people are more used to humans attending their problems and they are not accustomed with the usage of AI. Human medical professionals using AI at the back end could be a solution. Mr. Amit, then asked if people should be scared of AI by taking an example of how AI “Deep Blue (chess computer)” was retired by IBM after it defeated one of the greatest chess players, Garry Kasparov on May 11, 1997 after a series of matches of between the two, because people were scared of how fast the computer learnt. To which, Mr. Rohit explained that, from the perspective of a person who built the AI and knows exactly how it works, it is not scary because AI can work only up to the level it is programmed to work.
Lastly, for the ending notes our speakers shared how learning can help to grow in any field and that innovation is a compliment to living so people shouldn’t be scared of AI. There were some immensely valuable messages shared in the session that you cannot miss if you aim to grow and create an impact in life such as not to refrain from hiring people smarter than you because it will ensure your growth consistently.
Please enjoy the recording of our first webinar on YouTube –