Given the unsustainability of health expenditure growth rates, we explore how AI and genomics might assist Australia to achieve higher quality health services at lower costs. We provide a definition and analyse main drivers and impacts of implementing AI and genomics in medicine.
We believe that growing costs of healthcare together with ageing population pose a threat to the governmental and individual budget of Australians. A disruption, that will solve challenges faced by population, should occur to deal with the escalating concern about the future of healthcare. AI with the help of genomics can be beneficial in that sense. Venture Insights estimates that the expenditure on hospital services will decrease with the presence of AI, while primary care will have prevalence in healthcare industry driven by the establishment of preventative medicine.