The Future of Healthcare in Europe: AI and Labor Market Transformations by 2030

McKinsey Global Institute recently released a paper on the future of the labor market and the impact of AI. In the report several insights are highlighted that will shape the healthcare sector in Europe by 2030. The report does not go into detail about AI within diagnostics, but there are still a couple of very interesting points:

Healthcare Will Have the Largest Growth in Labour Demand

• The healthcare sector is expected to have the largest growth in labor demand in Europe, with a forecast of approximately 3.7 million new jobs by 2030. This is primarily driven by the aging population and increased challenges in mental health and chronic diseases. The roles that will be in greatest demand are health aides and healthcare professions.

Transitions on the labour market

• Around 500,000 healthcare workers may need to change professions due to increased automation and AI. In particular, administrative support roles are expected to change and decrease while the demand for technological and social skills increases.

 Economic Implications:

• Per capita healthcare expenditures are expected to increase significantly, especially in Europe. Expenditures will accelerate in the coming years. On average European countries will increase its spending with 6.5% per year until 2030. AI will play an important role in trying to keep the increase in expenditures as low as possible.

Integration of Advanced Technology:

• Technological developments in healthcare will require staff to develop new technical skills. AI and other digital tools will become increasingly integrated into care processes, placing new demands on the technical competence of healthcare personnel.

Social and Emotional Skills:

• In addition to technical skills, there will be an increased demand for social and emotional skills to meet the needs of the aging population. This means that healthcare personnel must be skilled in communication and empathy to provide high-quality care.

Conclusions: Healthcare is facing significant changes and opportunities over the coming decade. By adapting to new technological and demographic challenges, the sector will not only effectively manage future care needs but also offer better and more person-centered care.

LINK to the report:

https://www.mckinsey.com/mgi/our-research/a-new-future-of-work-the-race-to-deploy-ai-and-raise-skills-in-europe-and-beyond#/

Text by Erik Stenberg, image by senivpetro on Freepik

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