Soaring past the traditional: Where is the healthcare industry heading to?
The developments within the tech world has been most noticeable in our daily lives’ through the development of the communications system. Technological advances have benefited a cross range of sectors, in the healthcare sector this has been particularly focused on assisting a healthier, longer and positive lifestyle.
Room for Improvement
The healthcare industry has increased its performance over the last few years – from the successful introduction of stem cell research to achieving a deeper understanding of the significance of our chromosomes in each strand of our DNA. The understanding developed of the human organism and the variables which affect it have advanced the way we take care of our ourselves – internally and externally. Yet it seems that the government, particularly in the United Kingdom, is not placing sufficient efforts into supporting and implementing the advances which could be used by the NHS. This is particularly worrying due to the increase of pollution across the United Kingdom.
A report released last week by international experts, indicates that pollution has caused more deaths in the UK than in many other countries in western Europe, highlights the need for a technological boost is as important as ever. Pollution kills 9m people per year globally, this is specifically relevant in areas with increased and dense pollution. Although not to discourage environmental changes put forward by the government (e.g. London’s new T-Charge to lower congestion by implanting a new £21.50 daily charge to drive in central London), the adaptability that cities such as London could attain with the potential of investing into new technologies are immense.
Ceasing the moment
The NHS forms a core part of the British health system. Albeit its strengths, there is much scope for development. Private companies are currently taking advantage of the space left by underfunded public bodies especially when it concerns technological development. This is giving companies an opportunity to enter this space with providing the sector advances in technology.
In cosmetics and beauty, countries such as South Korea have led the way in beauty innovation making it a beauty powerhouse. Plastic surgery levels have soared in South Korea due to their affordability, which has been linked to the advances in technology this sector has recently seen. The UK has a strong export market with both the beauty and technology industries at the forefront of this important driver of income for the UK. The latter of these has recently seen a huge uplift which has contributed to a higher concentration of innovation to capitalise on this booming market.
The UK government is helping stimulate the market with incentives such as the Enterprise Investment Scheme (also known as “EIS”) which includes companies focused on technology. The benefit of technology companies being included in EIS’s has been highlighted by the chief of the Consumer Electronic Show (“CEIS”) who has heralded the success of the EIS incentive whilst emphasising its importance in bringing private investment to innovative sectors. In conjunction with financial aid given from the UK government, the CES is helping fund a selection of start-ups to attend its next event in January.
Some companies have made a key move forward. IDDNA’s (www.suisselifescience.com) impressive portfolio makes it one of the most interesting companies across Europe. By using Artificial Intelligence (“AI”) and science, they pinpoint the root of aging and develop a personalised plan built from your genetic information and surroundings. The treatments are biologically active, so no drugs are used. IDDNA’s revolutionary new technology is backed by significant individuals in the tech industry, who are in agreement that AI and “on-device computing” could make a significant difference in healthcare.
In conclusion, Europe and specifically the UK has developed the possibility of becoming a world-class market leader in technology who have been heavily vested in AI for the past decade. The revolution will not come in the shape of robots, but in a form suitable for all generations for a progressive future.
Elizabeth Frumson ® Amio Wealth Limited
All sources have been acknowledged.