Being the largest market in healthcare China has also spreading its wings in the rapid development of Artificial Intelligence, the country is likely to be the world’s second largest incubator after the Silicon Valley, focusing on medical breakthroughs, according to an expert expressing his thoughts during a forum.
According to Piero Scaruffi, founder of Silicon Valley Artificial Intelligence Research Institute and author of the book “A History of Silicon Valley”, “Chinese scientists will be benefitted from the technologies like Artificial Intelligence, big data and cloud computing in order to find treatments for rare diseases. People cannot be made immortal but with more solutions, we can live longer.”
The forum hosted by Hangzhou-based Firestone Inventing, Scaruffi said Artificial intelligence and biotechnology are joining hands together to produce newer solutions in the healthcare industry. Deep learning and cloud computing can be used to analyze and predict proteins and its structure, which plays a critical role in finding the cure for rare diseases.
He further said China is the world’s most populous country has a potential to take over Silicon Valley in healthcare evolution. Government and companies have started collaborating in this regard.
Firestone Inventing has released a report a few days ago which claims that total of 14 unicorns in China—Privately-held companies that are valued at $1 billion were founded within the past decade are involved in the healthcare industry.
Also, Chinese healthcare consultancy has inked a strategic agreement with Silicon Valley AI Research Institute aimed at providing scientific and innovative support to assist China to become the world’s 2nd largest healthcare incubator.
Founder and CEO of Firestone said, “After the boost in the digital economy, Bioindustry is going to evolve as part of the national strategy.”
Similar to the digital economy which is impacted by big data, artificial intelligence and sharing economy, now it is time for medical and healthcare industry to be transformed dramatically in the next couple of decades, he added.