UK-based pharmaceutical company AstraZeneca is looking to form new partnerships with Chinese firms at the upcoming 2020 World Artificial Intelligence Conference (WAIC) in Shanghai. The company is planning to launch 10 major AI-based solutions that were designed for the healthcare industry at the event with hopes of attracting new partners.
Unlike previous WAIC events, this year's conference will be online from July 9 to July 11. Organizers were forced to go online in order to ensure the safety of its participants amid the coronavirus pandemic. The event, with the theme "Intelligent Connectivity, Indivisible Community," will have more than 100 exhibitors using an integrated online platform that online users can visit. The platform includes a cloud-based virtual exhibition, where users can explore a 3D 360-degree virtual environment with multiple interactive displays.
One of the speakers at this year's event will include AstraZeneca Investment CEO Pascal Soriot. This will be the first time that AstraZeneca has become an exhibitor at the event. The entire three-day session will be broadcasted live through multiple studios in various countries, including the US, Germany, Singapore, and France.
AstraZeneca China president, Leon Wang, mentioned in a statement that the company has designed its latest AI-based solutions to specifically cover scenarios such as drug production, diagnosis, pharmaceutical research, and treatment. The executive added that he hopes the company's new offerings will result in new cooperation opportunities with Chinese firms.
Wang explained that the advanced AI-based technologies it is utilizing, which include machine learning, machine vision, natural language understanding, and prediction algorithms, should prove indispensable to China's healthcare sector. AstraZeneca is aiming to support the further development of the country's health sector with the adoption of these new technologies.
The pharmaceutical giant's contributions to the country's health sector have been immense. Last year, the company partnered with the local government to establish the Wuxi International Life Science Innovation Campus in Wuxi, Jiangsu province. AstraZeneca previously stated that it intends to build more life science innovation campuses across the nation to foster more talents and innovation. The company is aiming to build new campuses in cities such as Beijing, Chengdu, Hangzhou, Guangzhou, and Shanghai.
Apart from establishing the life sciences innovation campus, AstraZeneca also launched a $1 billion medical fund in cooperation with China International Capital Corp. The fund was established to support medical startups with promising innovations for the sector. The company had stated that the first phase of fundraising for the initiative has already been completed. The fund is expected to begin investing in promising startups within the year.
