Agentic AI in healthcare holds opportunity for European players to arise
Europe currently has a strong opportunity to become a key global player in agentic artificial intelligence (agentic AI) and its deployment in healthcare, a CEO has forecast.
Whereas generative AI (genAI) takes decisions based on existing datasets that LLM models within its architecture analyse, agentic AI, viewed as the next evolution of AI, is more about autonomous decision-making.
According to Paolo Denti, Oversonic Robotics’ CEO and co-founder, while the market for genAI and large language models (LLMs) is already dominated by US and Asian market players, there is still time for Europe to carve out a niche in agentic AI.
In recent years, US companies such as Amazon Web Services (AWS) and Nvidia have forged significant partnerships with large medtech players such as Johnson and Johnson (J&J), suggesting their leading edge in the provision of AI tools in the healthcare space. Specifically, genAI tools have been a focus for the companies, with each having established healthcare partnerships for the technology’s application in areas such as drug discovery and the development of genAI-based applications to help practitioners improve predictive analytics around patient treatment outcomes.
“Agentic AI is about performing real physical tasks and for machines to make real decisions, not just to support healthcare practitioners with generic information as in the case of genAI,” Denti continued.
“That’s an important differentiating point, and also the area where Europe could still today play an important role, because the areas that are unfortunately already dominated by US and Asia is the LLM and genAI, and it no longer seems likely a stronger European player will emerge.
“However, I think Europe could become a strong player in agentic AI as the market at this moment remains somewhat more open to disruption.”
AI is on a rapid development course in healthcare. GlobalData analysis forecasts that the technology’s application in healthcare will hit a $19bn valuation by 2027. The genAI market in the healthcare space has been evolving quickly in recent years, with the aforementioned large players solidifying their position in the market. Recent research by McKinsey found that 85% of respondents in the healthcare space reported using genAI in some capacity.
Agentic AI and its use cases, meanwhile, currently appear to be in more of a developmental phase. Further research by McKinsey highlights that 70%-80% of medtech industry workflows could be advanced with agentic AI, and 75%-85% in the pharma industry.
Oversonics’ flagship product is RoBee, an assistant robot powered by agentic AI that aims to alleviate staffing shortage related pressures in hospitals and other healthcare settings.
