New Delhi: India has seen the fourth-biggest outflow of high net worth individuals globally in 2015 with shifting of 4,000 millionaires overseas, says a report.
According to a report by New World Wealth, some 4,000 uber-rich Indians have changed their domicile in 2015, while France saw the maximum outflow of millionaires with as many as 10,000 super rich leaving the country.
The report however noted that the migration of super rich from China and India is not a “concern”.
“The outflows from India and China are not particularly concerning as these countries are still producing far more new millionaires than they are losing,” the report said and added that “once the standard of living in these countries improves, we expect several wealthy people to move back.”
In terms of countries ranked by millionaires outflow, France was followed by China in the second place with 9,000 millionaires leaving the country while for Italy, at third position, the figure stood at 6,000.
On France, the report said, the country is being heavily impacted by rising religious tensions between Christians and Muslims, especially in urban areas.
“We expect that millionaire migration away from France will accelerate over the next decade as these tensions escalate,” the report said.
It further noted that other European countries where religious tensions are starting to emerge such as Belgium, Germany, Sweden and the UK will also be negatively affected in the near future.
Other countries that saw significant millionaire outflows include Greece (3,000), while Russian Federation, Spain and Brazil saw 2,000 such outflows each.In terms of millionaire inflows, Australia topped the chart as it saw as many as 8,000 uber rich people shifting base there, followed by the US (7,000) and Canada (5,000) in the second and third place respectively.
Millionaires, otherwise known as “high net-worth individuals” or “HNWIs” refer to individuals with net assets of $1 million or more excluding their primary residences.
In a novel effort to predict the risk of cardiovascular disease (CVD) among the Indian population, Microsoft India and Apollo Hospitals on Friday launched the first-ever Artificial Intelligence (AI)-powered heart disease risk score API (application programme interface).
Part of Microsoft’s “AI Network for Healthcare” initiative, it will help doctors across the Apollo network of hospitals leverage the AI-powered API to predict risk of CVD and drive preventive cardiac care across the country.
Nearly three million heart attacks happen in India every year and 30 million Indians suffer from coronary diseases. However, even with various heart disease risk models available worldwide, doctors and cardiologists are unable to identify the probability of CVD in Indians.
“The AI-based models available worldwide were formed decades ago and are based on the western population. Our new API score is based on the data of 4,000 Indians shared by Apollo Hospitals and can easily identify the level of risk each patient has,” Anil Bhansali, Managing Director, Microsoft India (R&D), told IANS.
“We come in as a technology partner or expert in the AI domain, where we collaborate with healthcare providers and doctors to integrate data to help build the AI model,” Bhansali added.
Built on Microsoft’s Cloud computing platform Azure, the new AI-based heart risk score helps gauge a patient’s risk for heart disease and provides rich insights to doctors on treatment plans and early diagnosis.
The API score considers 21 risk factors including lifestyle attributes such as diet, tobacco and smoking preferences and physical activity as well as psychological stress and anxiety as reflected via rate of respiration, hypertension and systolic and diastolic blood pressure.
“The score categorises risk into high, moderate and minimal and also provides insights on the top modifiable risk contributors, thereby assisting physicians to consult patients in a more holistic way, while providing insights to patients for lifestyle modification and timely interventions,” Bhansali elaborated.
When a patient goes for a cardio health check, the doctor can build up a more accurate cardio-vascular health profile of the patient based on Machine Learning (ML) of all their previous patient data.
AI can, in turn, predict future coronary ailments the patient might experience in the next 10 to 20 years based on these multiple factors.
“This heart risk score for Indian populace is a true example of how precision healthcare can accelerate prevention of cardio-vascular disease and reduce disease burden,” Bhansali noted.
According to Sangita Reddy, Joint Managing Director, Apollo Hospitals, the partnership is aimed at designing new tools and equip doctors in the fight against non-communicable diseases.
“The amalgamation of AI and ML with the global expertise of our doctors will help prevent heart disease, save lives and ensure those with heart disease can make informed choices on their health,” Reddy said in a statement.
Besides Apollo, Microsoft is also planning to extend the AI model to other healthcare providers.
“While we are currently working with Apollo, we are also in the process of identifying partners where we can actually try this API score,” Bhansali told IANS.
“In the last couple of years we have been working on how Cloud technology, particularly AI, can help in reducing the overall disease burden. Our first step towards this, as part of the healthcare partnership, is developing the cardiac risk score for Indian population,” Bhansali added. (IANS)