India's AI In Healthcare To Become A Trillion-Dollar Industry: WEF Report

India's Artificial Intelligence expenditure is expected to reach $11.78 billion by 2025 and is expected to add $1 trillion to India's economy by 2035, the World Economic Forum mentioned in its report. AI expenditure in India increased by over 109% in 2018, totaling $665 million. AI is already being integrated into diagnostic algorithms for screening for diseases ranging from cancer, diabetic retinopathy, to cardiovascular disease. A measured approach that scales up AI in healthcare, while ensuring meaningful human control and informed consent is critical to long-term success. NITI Aayog's National Strategy for AI prioritizes principles of privacy, ethics, security, fairness, transparency and accountability, as well as alignment with the rights afforded by the Indian Constitution. India is a founding member of the Global Partnership on AI alliance and has thus far adopted a measured approach for integration of AI, in keeping with ethical and responsible standards. These principles must be applied in practice as the technology scales.

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