Bradley Merrill Thompson, Member of the Firm in the Health Care & Life Sciences practice, in the firm’s Washington, DC, office, co-authored the white paper “Navigating the Medtech GenAI Journey: A Policy Primer,” in collaboration with Boston Consulting Group (BCG).
Following is an excerpt:
The road to successful Generative Artificial Intelligence (GenAI) deployment in medtech can draw parallels from classical literature and mythology. The hero (a medtech company) heeds a call to adventure in pursuit of some glorious proposition (the power of GenAI), embarking on a journey from the known world into the abyss, where they must contend with forbidding and frightening obstacles (incomplete and unclear regulations, potential legal consequences, unknown cyber threats) as well as individual temptation (violations of data privacy, copyright infringement) presenting clear and present danger (to the company and, potentially, to patients). In storybooks, the hero emerges triumphant after an epiphany—while quick thinking may dodge a threat, and great courage and skill may win a battle, it is the hero’s own moral compass that separates their tale from a tragedy. Will your medtech GenAI journey be a Hero’s Tale or a Tragedy?
Our previous articles have focused on the call to adventure (“Medtech Companies Must Move Faster on Generative AI”) as well as the tremendous potential for GenAI technology (“Medtech’s GenAI Opportunity”) and the building blocks required to field GenAI products and services (“Building A Medtech GenAI Platform”). This article focuses on the Policy aspects of your GenAI initiative, including the Responsible AI (RAI) Playbook that serves as a roadmap to ensure your medtech GenAI journey is a successful one.