UAE: How AI can help reduce healthcare cost for people, government

In order to combat rising healthcare expenses and access issues, global governments must embrace AI and begin consolidating their data for effective use, said Larry Ellison, co-founder of Oracle, during World Governments Summit in Dubai on Wednesday.

He emphasised that a comprehensive approach to data management is essential for successful AI implementation. “AI models require massive amounts of data, such as geographic maps, government facilities, and health data, to ensure the accuracy of predictions and solutions,” he noted.

Ellison highlighted the integration of AI into healthcare systems as a means to achieve better diagnostics and treatment outcomes. "AI has the capability to analyse vast amounts of data quickly, allowing for faster and more accurate medical decisions," he stated. By leveraging AI, healthcare providers can tailor treatments to individual patients, which can lead to improved health outcomes and reduced costs.

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The Oracle co-founder also discussed the pressing challenges that governments face in managing healthcare expenses. "Healthcare costs are skyrocketing, and governments are struggling to keep up," he remarked. He views AI as a viable solution to streamline processes and cut unnecessary expenditures, emphasising that investing in AI is critical for sustainable healthcare systems.

Ellison noted that industries such as finance and manufacturing have successfully harnessed AI to enhance efficiency and reduce costs. "Healthcare can benefit from these lessons," he said, advocating for the adoption of AI to create a more efficient system that serves everyone better.

Moreover, Ellison pointed out the role of AI in preventive care. He explained how AI algorithms can analyse patient data to identify risk factors and predict potential health issues before they escalate. "This proactive approach can save lives and reduce hospitalisations, ultimately lowering costs for governments," he added.

Ellison also discussed AI's potential to transform agriculture and food security. He stated: "AI can optimise farming practices, leading to increased yields and more sustainable food production." With global populations on the rise, he emphasized that innovative solutions like AI are essential for tackling food security challenges.

Ellison called on governments and healthcare leaders to embrace AI and invest in its future. "By doing so, we can create a healthier society and a more efficient government," he urged.