Artificial intelligence will be used increasingly to relieve pressure on “overwhelmed” public healthcare systems around the world, a leading Mubadala executive has said.
Mina Hamoodi, head of healthcare at the Abu Dhabi investment company, said the technology would not, however, replace doctors, and would be adopted gradually to “help optimise” health care.
Speaking at the World Economic Forum in Davos, Ms Hamoodi told The National that AI was “a big focus” for Mubadala, which was investing in innovative healthcare companies that make use of emerging technology.
Investors including Mubadala could put capital into businesses that “help advance health care and deal with some of the challenges” facing the sector, she said.
“Because there are challenges,” she added. “I think the public healthcare system globally is overwhelmed. There’s rising demand for healthcare services. We have generally an ageing population, rising incidence of chronic diseases.
“So there’s definitely a role, an important role, that AI and technology can play in alleviating some of the challenges.”
There has been increasing research into the use of AI to diagnose diseases by analysing scans, because the technology can be trained rapidly on thousands of images.
Ms Hamoodi predicted that there would be a “gradual integration” of the technology into health care and it would “augment and help optimise” the sector.
“I don’t see that extreme case of suddenly moving towards AI-powered doctors … I think in health care it'll be probably a slow and steady progression of how we adopt AI and technology. It needs to be thoughtfully done,” she said.
I don’t see that extreme case of suddenly we’re moving towards AI-powered doctors. It'll be a slow and steady progression of how we adopt AI and technology
Mina Hamoodi
Ms Hamoodi noted that technology, such as telemedicine consultations, that once seemed “foreign” in the UAE was increasingly accepted. She praised the country’s health officials for having a forward-looking attitude to tech.
Among Mubadala’s AI-related healthcare investments has been the purchase of a nearly €270 million ($336 million) stake in Evotec, which uses AI in drug development.
AI can also be used in healthcare IT to cut waste in countries including in the US, where Ms Hamoodi said an estimated $1 trillion a year – out of $4.9 trillion in annual healthcare spending – was lost because of “administrative complexity” and “pricing failures”.
Last year, Mubadala invested in Zelis, which Ms Hamoodi said provided an AI-powered “digital platform that connects payers, providers and patients to make payments much more seamless”.
“One of the more frustrating aspects for patients in the US is navigating the financial journey of health care," she added. "So that’s one example of a business that’s tech-enabled that’s helping to address some of these challenges and contain healthcare costs.
“I think we've all heard of the sort of tug of war that you do have in the US between insurers and hospitals and patients. And what a pain point that can be. So this is obviously a business of the future that you’re looking ahead to.”
The US and Europe were the initial focus of Mubadala’s international healthcare investments, but there has since been a shift towards Asia. The fund has also been looking for rapidly growing healthcare sectors in which it has not previously made heavy investments, with capital used in “outsourced pharma services”.
“We invested in businesses across that entire pharma drug-development value chain. And really the premise was, how can we get exposure to the high-growth world of pharma and biotech without taking the binary risk of just one or two products?”
Mubadala has been “riding the wave of innovation” and helping companies to bring products to market at a time when new forms of drugs have emerged, including biologics, made from living organisms.
Early last year it was among three funds that bought a minority stake in Manipal Health Enterprises, described as India’s second-largest hospital chain.
Mubadala has also invested in the Chinese healthcare market for more than a decade. A current interest is the operation of multinational pharmaceutical companies that are choosing to focus on their core markets.
“We see an opportunity to buy those portfolios and create a dedicated China platform or pan-Asia platform and we’ve made a couple of deals in that space with a partner called CBC Group,” Ms Hamoodi added.
Ms Hamoodi, who joined Mubadala’s healthcare arm in 2012, is currently involved in global healthcare projects, but was initially part of a division that focused on investments within the UAE.
She said the UAE had spent a “significant amount of money” sending Emirati patients abroad for treatment, so authorities in the country have made efforts to plug gaps in healthcare access and quality. That includes setting up Cleveland Clinic Abu Dhabi, which opened in 2015, and the Imperial College London Diabetes Centre in the capital.
“The first part of our journey within Mubadala is really investing in, upgrading and enhancing the UAE healthcare system,” she said.
For Cleveland Clinic, she said “there were lots of trips back and forth between Abu Dhabi and Cleveland” to understand the US model of care, how that could be imported to Abu Dhabi, and how it could offer speciality care not previously available in the UAE.
The hospital, where Ms Hamoodi is a board member, reached a milestone in 2023 with the opening of the Fatima bint Mubarak Centre, which is named after the Mother of the Nation and specialises in cancer care. Last month Jill Biden, US first lady at the time, visited the centre.
Ms Hamoodi said it was now possible for complex cases that previously required overseas care to be treated in the UAE. Many doctors at Cleveland Clinic Abu Dhabi trained in the US before moving to the UAE.
“That's one that we're very proud of, because of the transformational impact it’s had, not just to the UAE, but the wider region,” Ms Hamoodi said. "It’s truly the same calibre and quality of care that you would get in Cleveland."
MATCH INFO
Uefa Champions League final:
Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports
The Byblos iftar in numbers
29 or 30 days – the number of iftar services held during the holy month
50 staff members required to prepare an iftar
200 to 350 the number of people served iftar nightly
160 litres of the traditional Ramadan drink, jalab, is served in total
500 litres of soup is served during the holy month
200 kilograms of meat is used for various dishes
350 kilograms of onion is used in dishes
5 minutes – the average time that staff have to eat
Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
- Stay invested: Time in the market, not timing the market, is critical to long-term gains.
- Rational thinking: Breathe and avoid emotional decision-making; let logic and planning guide your actions.
- Strategic patience: Understand why you’re investing and allow time for your strategies to unfold.
Five expert hiking tips
Always check the weather forecast before setting off
Make sure you have plenty of water
Set off early to avoid sudden weather changes in the afternoon
Wear appropriate clothing and footwear
Take your litter home with you
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
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Price: From Dh98,800
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Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
The candidates
Dr Ayham Ammora, scientist and business executive
Ali Azeem, business leader
Tony Booth, professor of education
Lord Browne, former BP chief executive
Dr Mohamed El-Erian, economist
Professor Wyn Evans, astrophysicist
Dr Mark Mann, scientist
Gina MIller, anti-Brexit campaigner
Lord Smith, former Cabinet minister
Sandi Toksvig, broadcaster
RACE CARD
6.30pm: Madjani Stakes Group 2 (PA) Dh97,500 (Dirt) 1,900m
7.05pm: Maiden (TB) Dh82,500 (D) 1,400m
7.40pm: Maiden (TB) Dh82,500 (D) 1,600m
8.15pm: Handicap (TB) Dh87,500 (D) 2,200m
8.50pm: Dubai Creek Mile Listed (TB) Dh132,500 (D) 1,600m
9.25pm: Conditions (TB) Dh120,000 (D) 1,900m
10pm: Handicap (TB) Dh92,500 (D) 1,400m
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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Profile of Hala Insurance
Date Started: September 2018
Founders: Walid and Karim Dib
Based: Abu Dhabi
Employees: Nine
Amount raised: $1.2 million
Funders: Oman Technology Fund, AB Accelerator, 500 Startups, private backers
MATCH SCHEDULE
Uefa Champions League semi-final, first leg
Tuesday, April 24 (10.45pm)
Liverpool v Roma
Wednesday, April 25
Bayern Munich v Real Madrid (10.45pm)
Europa League semi-final, first leg
Thursday, April 26
Arsenal v Atletico Madrid (11.05pm)
Marseille v Salzburg (11.05pm)
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
RedCrow Intelligence Company Profile
Started: 2016
Founders: Hussein Nasser Eddin, Laila Akel, Tayeb Akel
Based: Ramallah, Palestine
Sector: Technology, Security
# of staff: 13
Investment: $745,000
Investors: Palestine’s Ibtikar Fund, Abu Dhabi’s Gothams and angel investors
Ipaf in numbers
Established: 2008
Prize money: $50,000 (Dh183,650) for winners and $10,000 for those on the shortlist.
Winning novels: 13
Shortlisted novels: 66
Longlisted novels: 111
Total number of novels submitted: 1,780
Novels translated internationally: 66
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
The schedule
December 5 - 23: Shooting competition, Al Dhafra Shooting Club
December 9 - 24: Handicrafts competition, from 4pm until 10pm, Heritage Souq
December 11 - 20: Dates competition, from 4pm
December 12 - 20: Sour milk competition
December 13: Falcon beauty competition
December 14 and 20: Saluki races
December 15: Arabian horse races, from 4pm
December 16 - 19: Falconry competition
December 18: Camel milk competition, from 7.30 - 9.30 am
December 20 and 21: Sheep beauty competition, from 10am
December 22: The best herd of 30 camels
11 cabbie-recommended restaurants and dishes to try in Abu Dhabi
Iqbal Restaurant behind Wendy’s on Hamdan Street for the chicken karahi (Dh14)
Pathemari in Navy Gate for prawn biryani (from Dh12 to Dh35)
Abu Al Nasar near Abu Dhabi Mall, for biryani (from Dh12 to Dh20)
Bonna Annee at Navy Gate for Ethiopian food (the Bonna Annee special costs Dh42 and comes with a mix of six house stews – key wet, minchet abesh, kekel, meser be sega, tibs fir fir and shiro).
Al Habasha in Tanker Mai for Ethiopian food (tibs, a hearty stew with meat, is a popular dish; here it costs Dh36.75 for lamb and beef versions)
Himalayan Restaurant in Mussaffa for Nepalese (the momos and chowmein noodles are best-selling items, and go for between Dh14 and Dh20)
Makalu in Mussaffa for Nepalese (get the chicken curry or chicken fry for Dh11)
Al Shaheen Cafeteria near Guardian Towers for a quick morning bite, especially the egg sandwich in paratha (Dh3.50)
Pinky Food Restaurant in Tanker Mai for tilapia
Tasty Zone for Nepalese-style noodles (Dh15)
Ibrahimi for Pakistani food (a quarter chicken tikka with roti costs Dh16)
Profile Periscope Media
Founder: Smeetha Ghosh, one co-founder (anonymous)
Launch year: 2020
Employees: four – plans to add another 10 by July 2021
Financing stage: $250,000 bootstrap funding, approaching VC firms this year
Investors: Co-founders
