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| AI and biotech Moreover, AI technology can boost the effectiveness of image
analysis and disease diagnosis. At the height of the COVID-19
One of the major trends at the forefront of biotech is the outbreak in mainland China, hospitals in Wuhan began to employ
application of AI. By utilising AI algorithms, technologies and the algorithm software, called Axial AI and developed by AI
platforms, such as big data and machine learning, it is possible enterprise Skymind, to analyse CT images of patients’ lungs in
to substantially increase the efficiency of biotech R&D, image seconds. That greatly reduced the time doctors spent on studying
analysis and disease diagnosis. AI can also be applied to drug the images and sped up diagnoseis of COVID-19 with an accuracy
development and clinical data prediction to optimise the R&D of over 90%. Public hospitals in Hong Kong have also introduced
process for biotech research. Notably, AI biotech giant Insilico the technology and have started employing AI to identify patients
Medicine has moved its global headquarters from the US to whose chest images show potential infection with COVID-19 and
Hong Kong and located its drug development and clinical data require medical attention immediately.
prediction platforms in Hong Kong. Such application can
drastically reduce the length of study and R&D costs. For instance, Similar to advanced medical devices, given Hong Kong’s edge in
Insilico Medicine’s trailblazing application of AI led to the discovery biotech research and healthcare and Shenzhen’s leading AI
of a clinical compound candidate with the potential to treat technologies, HK-SZ collaboration in the niche of “AI + biotech”
idiopathic pulmonary fibrosis. The company has proceeded to the stands a chance of achieving nationally and even internationally
preclinical research stage, with the entire R&D process taking a leading standards. By establishing their presence in the Loop,
mere 18 months and USD 2.6 millions, which is highly cost- enterprises can leverage the two cities’ talent pool and industrial
effective compared to the conventional drug development process advantages to efficiently promote business growth.
that on average takes 4.5 years and USD 670 millions.

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