Insight Report Health and Healthcare in the Fourth Industrial Revolution Global Future Council on the Future of Health and Healthcare 2016-2018 April 2019 World Economic Forum 91-93 route de la Capite CH-1223 Cologny/Geneva Switzerland Tel.: +41 (0)22 869 1212 Fax: +41 (0)22 786 2744 Email:
[email protected] www.weforum.org © 2019 World Economic Forum. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, including photocopying and recording, or by any information storage and retrieval system. Contents Executive Summary 5 Foreword 7 Introduction 8 Medical Breakthroughs in Biotechnology 9 Genetic Engineering 9 Regenerative Medicine and Stem Cells: Improving and Restoring Homeostasis 12 Immunotherapy 18 Precision Medicine 20 Some Definitions 20 Historical Perspectives of Precision Medicine 21 Examples of Precision Medicine in Practice 21 Challenges, Limitations and Promises of Precision Medicine 24 Enhancing Human Health for Improved Wellness 25 Nanotechnology 25 Medical ‘Things and the Internet of Things 25 Analytics and Computing for Improved Diagnostics, Payments and Information Sharing 27 Artificial Intelligence 27 Big Data 29 Case Study: Big Data for Rational Care 29 Blockchain 32 Virtual/Augmented Reality 32 Modern Machines and Healthcare 33 3D Printing 33 Robotics 33 Drones 33 Policy and Governance: Adjusting Society to Rapid Changes in the Health and 34 Healthcare Ecosystem Access and Affordability 34 Workforce 34 Regulation 34 Ethics, Equity and Social Considerations 34