The Crucial Role of Big Data, AI, and ML in Business and Health Solutions

Big Data, Artificial Intelligence (AI), and Machine Learning (ML) are revolutionising industries worldwide, driving efficiency, precision, and innovative solutions in both business and healthcare. Recognising the growing importance of these technologies, Apeejay School of Management recently hosted a conclave titled “Big Data and AI ML for Business and Health Solutions.” This event served as a pivotal platform for experts to share insights on how these advanced technologies are reshaping decision-making, financial management, drug discovery, and patient care.

The Growing Significance of AI, ML, and Big Data

AI and ML, when combined with Big Data, provide the ability to analyse vast amounts of information, extract meaningful insights, and make data-driven decisions with enhanced accuracy. In healthcare, these technologies facilitate early disease detection, personalised treatments, and drug discovery, while in business, they improve financial decision-making, risk management, and operational efficiency.

Key Discussions at the Conclave

The conclave featured distinguished experts from across the globe, each offering valuable perspectives on the role of Big Data, AI, and ML in solving critical challenges.

Prof. Asha Chandola-Saklani from Apeejay Stya University, Gurugram, and a Fellow Indian Academy of Science elaborated on the use of Big Data and AI ML in policy-making and decision-making frameworks, highlighting how quality data can enhance governance and strategic initiatives.

Prof. Graham Roy Ball (IntelligentOMIX Ltd, UK) discussed AI ML-driven solutions in the drug discovery pipeline, emphasising the power of these technologies in analysing vast molecular combinations to accelerate the development of life-saving medications.

Prof. Stephen Pennington from University of Dublin, Ireland shed light on the role of protein biomarkers in improving patient outcomes, particularly in translating lab discoveries into real-world business solutions (ATTUROS Ltd).

Prof. Judith Steen of Harvard Medical School, USA introduced Neuro FLEX Ltd, a pioneering initiative focused on utilising AI and ML to project future brain health, thereby advancing neurological research and treatments.

Dr. Dong Ling Tong from TS UTAR, Malaysia presented financial distress modeling using machine learning, demonstrating how AI-driven financial analytics can help organisations predict and mitigate financial risks.

Prof. Dono Widiatmoko of University of Derby, UK provided insights into health economics, detailing how data-driven strategies can optimise healthcare policies and resource allocation.

The event was moderated by Dr. Vernika Agarwal (Apeejay School of Management) and convened by Dr. Shweta Jha (Apeejay School of Management), supported by her team members Dr. Pragya Arya, Dr. Ahmad Zaman Khan, and Prof. Nikita Dhankar.

Key Takeaways from the Conclave

AI & ML for Healthcare: AI-driven algorithms are being used to detect diseases, analyze molecular compositions, and personalize treatment plans, making healthcare more predictive and effective.

AI in Financial Management: Machine learning is transforming the way organizations handle distress finance by predicting risks and optimizing financial operations.

Health and Brain Research: AI-based innovations like Neuro FLEX Ltd are paving the way for future advancements in neurology and mental health care.

Policy and Decision Making: The integration of AI and Big Data in policymaking ensures informed, evidence-based strategies that benefit both businesses and healthcare systems.

The conclave successfully demonstrated that Big Data, AI, and ML are not just theoretical concepts but practical tools driving real-world impact. From detecting diseases and optimising drug discovery to enhancing financial decision-making and improving healthcare policies, these technologies are shaping the future.

With continued research and innovation, AI and ML will play an even greater role in advancing industries, making data-driven decision-making more accessible and effective. Events like this conclave highlight the importance of interdisciplinary collaboration and knowledge sharing to harness the full potential of these groundbreaking technologies.