A collaborative research agreement has been announced between The Bitfury Group, a full service Blockchain technology company, and Insilico Medicine, Inc., an Artificial Intelligence (AI) company, to innovate ground-breaking healthcare applications.
Partners have signed a Memorandum of Understanding (MOU) to unite in academic and commercial settings to come up with innovative solutions having potential to transform the healthcare industry.
Founder and CEO of The Bitfury Group, Valery Vavilov said about this partnership:
“Blockchain can secure and streamline our medical systems, while AI has the potential to revitalize data management and machine learning to help identify trends and diseases.By partnering with Insilico, we will be able to combine their expertise in deep learning and bioinformatics with our Blockchain proficiency and real-time solutions to create bespoke and innovative new products for the healthcare sector.”
Alex Zhavoroknov, PhD, founder and CEO of Insilico Medicine, Inc. said:
“The Bitfury Group is one of the most reputable companies in Blockchain developing their own semiconductors and end-to-end Blockchain solutions trusted by the major corporations and governments worldwide. We are happy to enter into a research collaboration with Bitfury to develop innovative solutions that may save lives and extend human healthspan”.
With AI and blockchain merging to transform the healthcare sector, this can be the most anticipated Blockchain News.
Advances made in AI lately have surpassed accuracy in image and voice recognition, and revolutionizing a number of industries, including entertainment, finance, manufacturing and transportation. However, progression of AI in the healthcare industry is rather slow, as deep learning systems call for a vast array of examples to gain insights from and need up to tens of millions of data sets to achieve a high level of accuracy.
Insilico Medicine’s next-gen AI can be used to assess, validate and improve the quality of biological samples as well as gain insights from a vast pool of heterogeneous data without human intervention. Blockchain, on the other hand, has the potential to track and validate a large volume of healthcare data with high level of security leading to solutions that help effectual organization of data for deep learning system.
(Also Read: Why Investing In Blockchain Would Be Beneficial For Healthcare Companies?)
Artifical Intelligence could be one of the most advanced Blockchain technology applications to accelerate progress in bio-medicine and deliver innovative healthcare solutions to people across the world.
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