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Is Artificial Intelligence developing the MedTech industry?

MedTech can be described as an extremely wide sector of the market, dealing with the creation of medical technologies that can be used to save health and life, improve the treatment process and even prevent it. It is also an extremely dynamically developing area based on innovation, among which artificial intelligence plays a crucial role.

The Polish MedTech sector is developing very dynamically. According to the "Top Disruptors in Healthcare" report, which was published at the beginning of 2021, as many as 61% of the surveyed companies in this industry are at the stage of commercialization or market expansion! The challenges they face and how they can benefit from the implementation of artificial intelligence in their products and services will be discussed by the participants of the free, hybrid business conference Made in Wroclaw 2021, which will take place on October 20!

AI sector for the MedTech industry

MedTech relies more and more on artificial intelligence. According to the latest report prepared by the Wroclaw Agglomeration Development Agency, entitled "AI sector in the Wroclaw agglomeration 2021", this area is one among the most important applications of AI technologies developed in Wroclaw - as many as 39% of the surveyed companies indicated that it is in the area of MedTech that they offer their clients solutions related to artificial intelligence.

- I practically do not know an industry or business that could not benefit from the use of solutions based on artificial intelligence. The only problem here is a fairly high entry threshold, but at the same time, when not everyone is using AI yet, it is a great chance to stay ahead of the competition - for years. The use of artificial intelligence in the MedTech industry means, above all, the automation of many processes that so far required a lot of human involvement, and thus accelerating the production of drugs, faster diagnostics and more effective analysis of huge amounts of patient data. AI is also effective in training next generations of specialists - explains Tomasz Kowalczyk, CEO, NeuroSYS.

The use of artificial intelligence in the MedTech industry may mean gaining a competitive advantage, but it is also associated with challenges. It must be remembered that AI-based medical technologies must ultimately be understandable to medics and even patients.

- Currently, the most important challenge is the reliable dissemination of knowledge about AI among medics and, ultimately, among patients. Doctors must understand well what algorithms are, without them they will not be able to use them responsibly, nor will they be able to explain to patients where this or that result came from. Taking into account the specifics of a doctor's work, this is an extremely difficult task - comments Dr. Agnieszka Siennicka, Department of Physiology and Pathophysiology, Medical University of Wroclaw.

Currently, the development of the MedTech industry is also influenced by the economic situation caused by the coronavirus pandemic.

- The development of artificial intelligence and machine learning covers almost all areas of modern economies. MedTech is one of the largest beneficiaries of the ongoing technological transformation - even before the pandemic, the industry achieved the highest result in terms of the number of patents filed with the European Patent Office (2016 - 7.7%). Polish entrepreneurs and constructors rank among the most talented designers and creators of medical technologies. We are talking here, among others about telemedicine, which is supported by nearly 90 percent Poles and the importance of which will continue to grow, especially since 48 percent. Polish companies from the MedTech industry assessed that the pandemic has a significant impact on the running of their business models. Remote cardiological diagnostics, real-time monitoring of patient health thanks to technologies in the field of artificial intelligence and the Internet make the idea of smart health a tangible reality for many patients - sums up Przemysław Ozga, editor-in-chief of Production Manager.

MedTech powered by AI

During the upcoming Made In Wroclaw 2021 conference, a discussion panel will be held. "MedTech powered by AI", which will be attended by representatives of NeuroSYS, Wroclaw Medical University, CancerCenter.ai and Stermedica.au, and Production Manager.

- A report prepared by us concerning, inter alia, applications of AI, showed that MedTech is an area that plays a significant role in our economy. Its connection with artificial intelligence means that the discussion about this market sector could not be missed at the cyclically organized Made in Wroclaw conference, where this year we meet under the slogan Driven by Intelligence - comments Ewa Sondej, Team Manager for development projects at the Wrocław Agglomeration Development Agency.

Participation in the Made in Wroclaw 2021 conference is free, however, registration at www.made-in-wroclaw.pl is required. In addition to the panel devoted to the MedTech industry, discussions will take place in the role of a leader and team building in the era of artificial intelligence, smart cities and the e-commerce sector.

Made in Wroclaw 2021 is organized by the Wroclaw Agglomeration Development Agency and the City of Wroclaw. The honorary patronage over the conference was taken by: Coventry University, the National Center for Research and Development, Wroclaw University of Technology, WSB University, Wroclaw University, Wroclaw University of Economics, Walbrzych Special Economic Zone, Wroclaw University of Applied Informatics Horyzont, AHK Polish-German Chamber of Industry and Commerce . The event is organized in cooperation with ITCorner, SoDA and ABSL as well as Wolves Summit, an event for the global technology community, which will take place in Wroclaw on October 19-21, 2021.

More information about the conference can be found at www.made-in-wroclaw.pl.