February 22, 2024

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HKSTP and Hospital Authority launch AI Challenge

Image Credits: HKSTP, Press Release

Hong Kong Science and Technology Parks Corporation (HKSTP) collaborated with the Hospital Authority (HA) for the first time to organise the AI Challenge to provide innovators with a co-creation opportunity to develop AI-related solutions to address industry needs.

Under the theme of “Identifying Surgical Instrument”, contestants were required to devise machine learning models to identify, locate and count surgical instruments going into and out of hospitals’ operating theatres in the competition.

The performance of different AI models was evaluated according to the pre-defined Performance Metrics. This contest attracted more than 50 entries from local and overseas tech companies, of which 11 finalists were selected to submit their AI models. On top of receiving multi-cloud credits, the top teams were connected with HA to explore collaboration opportunities in the development of smart hospital solutions to enhance the quality of medical services in Hong Kong.

The winner of the event was a member of HKSTP’s Science and Technology Entrepreneur (STEP) Programme and AI PLUG. They beat other finalists to be crowned the overall champion and the winner in ‘Localisation Accuracy’ and ‘Classification Accuracy’.

Meanwhile, Dr Crystal Fok, Director at the AIR Platform and Precision Engineering, HKSTP presented a certificate to an IT support services provider in Hong Kong which got the overall first runner-up in the Challenge. Another member of HKSTP’s Incu-Tech Programme and AI PLUG was the overall second runner-up and came first in ‘Counting Accuracy’.

According to recent market research, Artificial intelligence (AI) in the drug discovery market is expected to gain market growth in the forecast period of 2020 to 2027. Research by a leading market analysis firm found that the sector is expected to account to US$3,932.87 million by 2027 growing at a CAGR of 40.5% in the above-mentioned forecast period.

The growing awareness amongst physicians and patients regarding the benefits of Artificial Intelligence (AI) has been directly impacting the growth of the market.

Increasing need to reduce cost and drug discovery along with reducing time, growth of pharmaceutical industries by collaborations with other industries, adoption of cloud-based services and applications, delay in patent expiry are some of the factors that will enhance the growth of artificial intelligence (AI) in drug discovery market in the forecast period of 2020-2027.

On the other hand, the expansion of biotechnology industries will further create new and ample opportunities for the growth of artificial intelligence (AI) in the drug discovery market in the above-mentioned forecast period. Unavailability of skilled labour and lack of data sets are acting as market challenges for the growth of artificial intelligence (AI) in drug discovery in the above-mentioned forecast period.

Another article noted that the hunt for new medicines has often been more like a game of roulette than high-end science. But now the pharmaceutical sector is on the cusp of a transformation, as it delves into cutting-edge technology to come up with new treatments for diseases such as cancer, rheumatoid arthritis and Alzheimer’s.

Artificial intelligence (AI) is set to improve the industry’s success rates and speed up drug discovery, potentially saving it billions of dollars, according to a recent survey by a global analytics firm. AI topped a list of technologies seen as having the greatest impact on the sector this year. Almost 100 partnerships have been struck between AI specialists and large pharma companies for drug discovery since 2015.

The Director of the Centre for Health Solutions at a leading accounting and consultancy group stated that drug discovery is being transformed through the use of AI, which is reducing the time it takes to mine the vast amounts of scientific data to enable a better understanding of disease mechanisms and identify new potential drug candidates.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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