(US & Canada) | I See CDOs Becoming Even More Integral to Business Strategy — GE HealthCare Senior VP and General Manager

Vignesh Shetty, Senior VP and General Manager, GE HealthCare, speaks with Jack Berkowitz, Chief Data Officer at Securiti, in a video interview, about achieving efficiencies with AI/Ml apart from GenAI, the impact of GenAI on the healthcare sector, and the next phase of growth for CDOs and other data leaders.

Speaking about the impact of GenAI and enabling governance for the technology, Shetty says that even machine learning and deep learning are still attaining full potential today in healthcare. He explains that not everything necessarily requires GenAI, and cites a recent study that claims that it is possible to reduce healthcare costs by about $200 to $360 billion with existing technology (pre GenAI).

Shetty points out that there is a potential for GenAI to create another $150 to 160 billion in value just in the healthcare sector largely through productivity improvement and helping ingest large volumes of data.

Speaking about how the approach to GenAI differs from traditional ML approaches, Shetty says that the organization is actively pursuing synthetic data to complement real-world data to identify the most robust foundational model or large language model in terms of efficiency, accuracy, and the risks of hallucination.

He further reveals that he is trying to use GenAI to democratize the ability to build, deploy, and consume data offerings at scale. The easy-to-access and consume interfaces, for both application developers as well as consumers open up new possibilities.

In a similar vein, Shetty mentions applications that can leverage multimodal AI, a combination of images, text, and even genetic sequences, and start closing gaps in healthcare.

When asked about the future of data professionals and teams, Shetty says that he foresees the role of the CDO becoming even more strategic. He breaks it down into two parts – Internal and External.

Internally, he sees data professionals becoming an even more integral part of the strategy and the future of business. This includes areas like capital allocation and M&A. In GE Healthcare's case, it means helping the company make more informed decisions on realizing its vision to create a world where healthcare has no limits --- using data to create personalized as well as affordable care for patients.

Shetty further mentions that the healthcare system, even the hospitals, will benefit from having similar data roles within their staff, as it would help them drive both increased efficiency and improved accuracy, ultimately leading to better patient outcomes.

CDO Magazine appreciates Vignesh Shetty for sharing his insights with our global community.