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AI in Healthcare: The Future Unveiled at EFMA 2024

by THEFUTURE.TEAM

October 4, 2024

Artificial intelligence (AI) is poised to revolutionise the healthcare industry, and this potential was at the heart of the keynote speech delivered by Cyprus’ Chief Scientist Demetris Skourides, at the recent EFMA 2024 conference. The event, which brought together key stakeholders from the healthcare and technology sectors, focused on how AI can transform healthcare systems, from improving diagnostics to optimising patient care.

In his speech, the Chief Scientist highlighted the profound impact AI can have on healthcare, stressing that it is no longer a futuristic concept but a present reality shaping the industry. AI-driven technologies, such as machine learning algorithms and data analytics tools, are already being used to assist doctors in diagnosing complex diseases, predicting patient outcomes, and personalising treatment plans. These advancements, according to the Chief Scientist, represent just the beginning of what AI can achieve in the healthcare sector.

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One of the most promising areas of AI application is diagnostics. By analysing vast amounts of medical data, AI systems can detect patterns that may not be immediately visible to human practitioners. This can lead to earlier detection of diseases such as cancer, heart conditions, and neurological disorders, ultimately saving lives and reducing healthcare costs. The Chief Scientist pointed to AI-powered diagnostic tools that have demonstrated remarkable accuracy in identifying early-stage conditions, emphasising their potential to complement the expertise of healthcare professionals.

Beyond diagnostics, AI is also making strides in improving operational efficiency within healthcare systems. From optimising hospital workflows to managing patient records and resource allocation, AI can streamline processes, reduce human error, and enhance overall service delivery. For instance, AI-driven systems can predict patient admissions, allowing hospitals to allocate staff and resources more effectively. These innovations, according to the keynote address, are critical in addressing the increasing demand for healthcare services, particularly in an ageing global population.

However, the Chief Scientist also acknowledged the challenges that come with the integration of AI in healthcare. Ethical considerations, such as ensuring data privacy and managing the potential bias in AI algorithms, remain significant hurdles. Additionally, healthcare professionals need proper training to effectively use AI tools, and the healthcare industry must adopt a regulatory framework that ensures both safety and efficacy in AI applications.

The speech concluded with a call for collaboration between governments, healthcare providers, and tech innovators to fully realise AI’s potential in the healthcare sector. The Chief Scientist urged for continued investment in research and development to ensure that AI not only enhances patient care but also upholds ethical standards and promotes equitable access to advanced medical technologies.

Egypt’s Suez Canal Economic Zone Draws $8.1B In Investments Through 255 Projects

by THEFUTURE.TEAM

February 4, 2025

Egypt’s Suez Canal Economic Zone (SCZone) has secured an impressive $8.1 billion in investments across 255 projects in the last 30 months, according to an official announcement on Monday.

Major Investment Boost For SCZone

The General Authority for the SCZone has successfully attracted 251 projects in its industrial zones and ports, accumulating $6.2 billion in capital investments, which has resulted in around 28,000 new jobs, as stated by SCZone Chairman Walid Gamal El-Din.

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Additionally, four new projects have brought in $1.8 billion in investments, boosting the total capital inflows within the zone. These developments were discussed in a meeting with Mohamed Zaki El Sewedy, Chairman of the Federation of Egyptian Industries (FEI), and other officials from various chambers of commerce.

Strengthening Industrial Ties And Opportunities

The meeting focused on expanding investment prospects, fostering collaboration, and addressing challenges faced by industrial firms with strong export potential. A key objective was to encourage businesses to scale up their operations within the SCZone, leveraging its prime location, advanced infrastructure, and investor-friendly policies.

El-Din stressed the importance of the SCZone in driving Egypt’s economic growth and industrial transformation, citing the Ain Sokhna Integrated Industrial Zone as a flagship example of development. This zone is a testament to Egypt’s growing presence as a competitive global manufacturing hub.

The continued partnership between the SCZone and the private sector, El-Din noted, plays a pivotal role in building a strong ‘Made in Egypt’ brand, supporting local industrial development, and boosting innovation to improve Egypt’s position in global markets.

Acknowledging Achievements And Future Collaboration

El Sewedy praised the SCZone for its efforts in creating a robust investment climate, offering comprehensive services, incentives, and cutting-edge infrastructure. This meeting marked the beginning of a deeper collaboration between the SCZone and FEI, setting the stage for future joint initiatives.

Egypt’s Economic Outlook

Egypt’s economy is projected to grow by 4% in the year leading up to June, bolstered by supportive measures from the IMF, according to a Reuters poll conducted in January 2025. The poll also forecasts a GDP growth acceleration to 4.7% in 2025-26 and 5% in 2026-27.

However, the country’s GDP growth slowed to 2.4% in 2023-24, down from 3.8% in the previous year, primarily due to the ongoing currency crisis and the geopolitical impact of the war in neighboring Gaza, according to the Central Bank of Egypt.