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Bartiromo In Davos: Intel CEO "Fixed" On Innovation

Friday, 26 Jan 2007 | 5:04 PM ET

As the World Economic Forum draws to a close, Maria Bartiromo had a chance to sit down with Intel Chairman Craig Barrett to discuss where he sees opportunities for innovation in the tech sector.

Maria in Davos Update
Technology leader Intel takes on healthcare at the World Economic Forum, with Craig Barrett, Intel CEO and CNBC's Maria Bartiromo

Barrett says Intel is squarely focused on innovations in healthcare IT and education. Emerging marketplaces will drive growth in the long-term, but Intel is currently centered on innovating information technology in healthcare, which is the only thing that will make healthcare truly affordable in the U.S., Barrett says.

As technology progresses, patients will be able to get higher quality care at a lower cost. Barrett notes that 80% of healthcare costs go toward those who are chronically ill or old. Remote diagnostics and remote monitoring could drastically decrease these costs, he says, by taking care of people at their homes and keeping them out of the hospital.

People who suffer from diabetes or congestive heart failure could especially benefit from remote diagnostics, which is one particular area Intel has dug its heels into, Barrett says.

He says the medical profession in general has been slow to develop the technology that it needs and they need to “get with it.” An obvious example – almost all doctors still use paper files to track patients’ health records. This could easily be done electronically, and it would allow for patients to have access to their own information, regardless of their location. With that comes the issue of maintaining privacy, but Barrett says while it’s important to keep people’s information private and secure, the matter can often get overblown. He says its most important that people – especially those seeking medical care – have all the resources they need at their disposal.

And with regard to education, Barrett sees more room for innovation. Technology allows teachers to make the educational process more interesting and exciting for students, but it is still only a tool, he says. Intel has trained over 4 million teachers around the world on how to integrate technology in their classrooms, he says.

Technology is a business that is still in its infancy, Barrett says, and the opportunities for growth and innovation are abound.

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