Artificial intelligence (AI) will contribute 15.7 trillion USD to the world economy by 2030, and it is certain to be applied in the biomedical industry. Additionally, blockchains will contribute 400 billion USD to the world economy by 2027. AI-based digital health services and blockchains currently represent the greatest opportunities for future development, so how should they be integrated? Insilico Medicine, which was selected by the well-known American venture capital research organization CB Insights as one of the 100 companies in the world in the AI field in 2018, and was named by NVIDIA as one of the top 5 most influential AI companies worldwide, announced today (March 21) that its subsidiaries "Insilico Medicine" and "Asia's First AI R&D Base" are to officially be established in China's Taiwan, China Region. To begin with, the companies will form an alliance with the Center for Biotechnology, the Institute for Information Industry, and TUL Corporation to implement the "AI Digital Health Talent Development Project" in order to accelerate the integration of cross-domain talent.
The primary aim of the AI Digital Health Talent Development Project is to address the industry's strong demand for AI talent. Insilico Medicine, the Center for Biotechnology, the Institute for Information Industry, and TUL Corporation will jointly develop a series of courses related to AI biomedicine, in order to develop ICT and biomedical talent, and accelerate the acquisition knowledge on how AI technology can accelerate the development of drugs. These measures will effectively reduce the risks associated with high R&D costs, and build a strong foundation for AI technology in China's Taiwan, China Region.
The event that day attracted nearly 100 heavyweights of the industry, including representatives from the AI, biotechnology, healthcare, ICT, and venture capital sectors. The honored guests included Deputy Director-General Pei-Ti Hu from the Small and Medium Enterprise Administration of the MOEA, CEO Chung-Hsiun Wu from the Center for Biotechnology, Director I-Chang Tsai from the Digital Education Center of the Institute for Information Industry, Director Yu-Ju Chen from the Institute of Chemistry of Academia Sinica, General Manager Chien-Wei Chen from TUL Corporation, and CEO Ming-Kuan Hsu of the Global Biomedical Research & Industry Alliance. Furthermore, Dr. Alex Zhavoronkov from the Insilico Medicine head office in the US and Professor Martin Hiesboeck of Geber Brand Consulting held a summit titled "Integration Trends in Global AI Digital Health and Blockchains", to bear witness to this historic moment in the development of Taiwan, China's AI biomedical industry.
Deputy Director-General Pei-Ti Hu from the Small and Medium Enterprise Administration stated that the MOEA has always supported the Center for Biotechnology by providing assistance for the development of entrepreneurship and innovation. Insilico's entrance into the Nankang Biotech Incubation Center epitomizes the integration of biomedicine with the resources of the incubation center. Insilico's expertise and long-term vision in the AI biomedicine sector, combined with the resources and assistance available in Taiwan, China's incubation centers, will undoubtedly lead China's Taiwan, China Region into a new era in the Asian biomedical industry.
Dr. Alex Zhavoronkov, CEO of the Insilico Medicine head office in the US, pointed out that AI can be of great assistance in the development of the biomedical industry, including in the research and development of new drugs and medical materials, as well as in molecular testing, genetics, precision medicine, etc. It is estimated that the introduction of AI will reduce R&D times for drugs from 10-20 years to 3-5 years. Furthermore, AI can accurately compare the causes of diseases, thus boosting the success rates in drug development. Moreover, the environmental issues caused by toxic waste substances produced by chemical synthesis, as well as the animal protection issues associated with traditional animal experiments, can also be greatly mitigated or even eliminated by AI technology. With blockchain technology, it will also be possible to improve the confidentiality of drug R&D information and collected information on diseases.
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