HCLTech and Olympus Advance AI into the Healthcare Industry
Leading global technology company, HCLTech, and manufacturer of medical equipment, Olympus, have combined their expertise to improve healthcare services across the world.
It is no secret that the healthcare sector is facing immense challenges worldwide.
Alongside a global ageing population, workforce numbers dropping and costs skyrocketing, chronic disease epidemics like COVID-19 have brought devastation to the industry and billions of people.
Innovation couldn’t be more important than it is for the healthcare industry right now, and not just for the people who have access to the sector, but for the millions who lack access to quality, affordable care.
Yet a lifeline could be found. As companies worldwide begin to embrace what technology and AI has to offer, it is becoming clearer how both can revolutionise the healthcare sector.
Through innovations such as: virtual care, patient data analytics for predictive diagnostics, and workforce augmentation with medical robots and AI assistants, inefficiencies in the healthcare sector could be reduced, outcomes improved, and healthcare made more accessible and sustainable worldwide.
These disruptive solutions could be adopted by companies globally to assist this overburdened yet vital industry, and HCLTech and Olympus have done just that.
HCLTech will establish a dedicated product innovation centre in Hyderabad, India, to serve Olympus operations across US, Europe, Middle East and Africa.
Through their existing partnership, the companies have worked together through their use of engineering and R&D, to inject technology into the healthcare sector.
Goals of HCLTech and Olympus for the healthcare sector
HCLTech and Olympus have combined their strengths to accelerate innovation cycles and bring new digital healthcare solutions to market faster.
Their goals with this partnership are to leverage HCLTech's expertise in digital technologies like AI, cloud, IoT and engineering services combined with Olympus' leadership in developing innovative medical products and solutions.
Their overall goals for the healthcare industry worldwide include:
- Developing cutting-edge medical devices and healthcare solutions, by leveraging advanced technologies like AI, robotics, and IoT.
- Enhance operational efficiency and reduce healthcare costs.
- Drive digital transformation in the healthcare sector by offering connected, intelligent, and data-driven solutions.
How HCLTech and Olympus will utilise AI and technology to achieve global healthcare goals
One key area of focus, is developing AI-assisted diagnostic imaging software to help radiologists and physicians detect diseases earlier and with greater accuracy.
And so an amazing example of what the partnership plans to achieve, is Olympus' system to integrate HCLTech's machine learning models into its endoscopic cameras and visualisation systems.
In simple terms, this AI can automatically identify potentially cancerous polyps during colorectal cancer screenings with very high precision, and this way can reduce fatigue for doctors reviewing hundreds of images as well as minimise missed diagnoses.
- Internet of Things (IoT) - to be used for remote patient monitoring, connected medical devices, and data collection.
- Robotics systems - that will be developed for minimally invasive surgeries, rehabilitation, and assistive healthcare applications.
- Cloud computing platforms - that will be utilised for data storage, processing, and enabling collaborative healthcare solutions.
- Augmented Reality/Virtual Reality - for surgical planning, training and visualisation.
Another transformative project, is creating a cloud-based platform for remotely monitoring patients with Internet-of-Things (IoT) enabled medical devices like pacemakers and insulin pumps.
These AI algorithms will continuously analyse the incoming device data streams to detect anomalies that warrant clinical intervention, and physicians could be alerted if a patient needs to adjust medication or get to the ER for an emerging condition.
Andre Roggan, Chief Technology Officer of Olympus, says: “It is with great pleasure and excitement that we announce this agreement with HCLTech, with whom we share a decade-long partnership in core Engineering and R&D services."
He adds that he is confident that the collaboration will "enhance Olympus’ engineering capabilities and unlock new innovations that enable quality healthcare through technology”.
What other big players are partnering to help the healthcare sector?
The medical technology (MedTech) industry has seen several notable mergers and acquisitions in recent years as companies aim to gain access to new markets and technologies.
Some significant M&A deals in the MedTech space include: Siemens Healthineers' acquisition of Varian Medical Systems for USD$16.4bn, strengthening Siemens position in cancer care solutions, and Stryker's acquisition of Wright Medical Group for USD$4bn, expanding Stryker's presence in the orthopaedics market.
It is likely that large healthcare companies like these will adopt solutions developed through the HCLTech and Olympus partnership worldwide, for applications across hospitals, diagnostics, patient monitoring, surgical technologies and more.
Leading to more accurate and efficient diagnostics, optimised clinical workflows, and improved patient experiences and outcomes through the embrace of AI and technology.
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