Sector News

How big data could revolutionise the healthcare industry

February 19, 2020
Life sciences

We generate data about ourselves all the time, the acquisition and interpretation of which is big business. In many cases, this data may be fairly trivial or inconsequential. In others, this may be the most private and confidential data of all – about our health, for example.

Regardless of what type it falls under, there are businesses out there that will want it.

The question of data in healthcare is timely considering the UK’s exit from the European Union, and the potential for healthcare data to be used as a bargaining chip in future trade deals with the United States and others.

The UK’s National Health Service (NHS) is one of the oldest and most established public healthcare systems in the world. Its practice of tying data to an individual NHS number means its data provides a broader account of patients’ health, and with the NHS increasingly digitising old records, a chronologically longer one too. EY has estimated the data to be worth almost £10bn.

The potential value of that data led to raised eyebrows when, in December, the UK government gave Amazon unfettered access to non-patient data for free, with Amazon’s Alexa voice assistant in turn providing health information via voice search.

Elsewhere, other big tech firms are interested in acquiring medical data, with Google doing a deal with Ascension, a company that runs 2,600 hospitals in the US.

Of course, such data is not purely useful to American tech giants, with the NHS and other health bodies themselves able to capitalise upon it.

One possible avenue of exploration lies in opening up such data sets to AI. The CEO of NHSX, the NHS’s digital transformation arm, Matthew Gould wrote in a recent blog post: “Artificial Intelligence (AI) holds enormous potential for the NHS, if we can use it right. It can reduce the burden on the system by taking on the tasks that can be converted into an algorithm. Many of these are in areas of greatest pressure, like radiography and pathology. It could improve patient outcomes, and increase productivity across the system, freeing up clinicians’ time so they can focus on the parts of the job where they add the most value”

By William Smith

Source: Gigabit

comments closed

Related News

May 26, 2024

From pharma to food: Vitafoods 2024 highlights

Life sciences

Beyond the vibrant displays and insightful discussions at Vitafoods 2024 stood the backdrop of a rapidly expanding nutraceutical market. With consumers increasingly seeking preventive healthcare solutions and natural alternatives to traditional medicine, the global nutraceutical industry has witnessed remarkable growth in recent years.

May 26, 2024

Genmab completes acquisition of ProfoundBio

Life sciences

Genmab has completed its $1.8 billion acquisition of ProfoundBio, a clinical-stage biotechnology company developing next-generation antibody-drug conjugates (ADC)s and ADC technologies for the treatment of cancers.

May 26, 2024

Merck to acquire life science company Mirus Bio

Life sciences

Merck has agreed to acquire US life sciences company Mirus Bio for $600 million (around €550 million) from Gamma Biosciences, a life sciences platform established by global investment firm KKR. Based in Madison, Wisconsin, Mirus Bio is a specialist in the development and commercialization of transfection reagents.

How can we help you?

We're easy to reach