Artificial Intelligence (AI) took centre stage on 5th & 6th Septemebr at Asia-Pacific’s MedTech Forum, where visionaries and thought leaders illuminated the boundless potential of AI in revolutionising healthcare.

Celebrating APACMed’s 10th anniversary, this year's forum was heralded as a watershed moment, featuring a distinguished line up of speakers including Nobel Laureate Malala Yousafzai and industry luminaries such as Tom Lawry, Matthew Luhn, and Dr Brent James.

Senior Minister of State, Ministry of Trade & Industry and Ministry of Culture, Community & Youth, Low Yen Ling, opened the forum by highlighting how the healthcare industry is poised for a significant transformation with the advent of AI, and that Singapore is well-positioned as a launchpad for MedTech companies, particularly in harnessing AI. 

A New Dawn for AI in Healthcare

Tom Lawry, renowned unconventional thought leader and author of ‘Hacking Healthcare,’ spoke on the region's critical role in the global healthcare landscape. He pointed out that Asia-Pacific, being the fastest-growing region in healthcare spending, is on the verge of becoming a key player in global health innovation. By 2030, the region is expected to account for over 20% of the world’s healthcare expenditure, presenting unparalleled opportunities for the integration of AI in medicine and healthcare systems.

Realising the Value of AI in MedTech

KPMG, in collaboration with APACMed, created a White Paper that surveyed global practices in healthcare and consulted MedTech Industry Stakeholders to understand the priorities with regards to AI. The ambition from these stakeholders was crystal clear: they expect AI to deliver transformation in the form of next-generation, intelligent healthcare. The report highlights key considerations to help improve trust, access and adoption in the use of AI in MedTech.

Showcasing Innovation: The MedTech Innovator Grand Prize

"We're honoured to host the showcase and finals of our APAC Accelerator programme at the Asia Pacific MedTech Forum 2024 in Singapore, where the most promising startups vied for the audience vote and our annual grand prize," said Paul Grand, CEO, MedTech Innovator. "Many of our startups leverage AI, so it's especially fitting that the focus of this year's MedTech Forum is on harnessing AI's transformative potential in healthcare. This event is a unique convergence of cutting-edge technology, visionary leadership, and the brightest minds in medtech, all working together to advance healthcare across Asia Pacific and beyond."

The Human Impact of AI Innovation

Harjit Gill, CEO of APACMed, reflected on the profound impact that AI will have on the future of healthcare. She noted that AI is set to become a ubiquitous force, driving innovations across diagnostics, data analytics, and personalised medicine. Moreover, robotics and AI are expected to introduce a new level of autonomy within healthcare systems, enhancing efficiency and improving patient outcomes. This vision of the future underscores the essential role of AI in shaping the next generation of healthcare.