New Silkroutes Group Limited (NSG) has signed a memorandum of understanding (MOU) with Huawei International to develop an artificial intelligence (AI) platform that can be used in genomics-driven healthcare.
Under the MOU, NSG and Huawei will explore a collaboration to use AI to establish breakthrough analyses into genomic data and develop predictive models for cancel and genomics.
Genomic medicine involves the study of a patient’s DNA and how the information can be used to improve clinical care through better diagnosis and personalised treatment.
AI is then used to help speed up the analysis of vast amounts of genomic sequence to allow doctors and patients to identify and manage conditions at the earliest possible stages.
“The new strategic growth of NSG is towards AI-driven solutions and digital transformation in the healthcare sector. We are excited to collaborate with Huawei, a global technology leader, to develop valuable and innovative breakthroughs in genomics-driven healthcare,” says NSG’s CEO Dr VicPearly Wong.
“At NSG, we believe that the future of healthcare is in technological innovations and will continue to build partnerships with leading tech players to fulfil and embody our new vision for the group,” Wong adds.
Wong was appointed as NSG’s executive director, along with the appointment of Lincoln Kwok as its finance director on Nov 17, 2020. The appointments follow the resignations of non-independent and non-executive chairman Goh Jin Hian and finance director William Teo amid probes from the commercial affairs department (CAD).
See: Goh quits as New Silkroutes chairman amid lawsuit and CAD probe
Goh is the son of former prime minister Goh Chok Tong.
Huawei International is the Singapore-based arm of Huawei, a leading global provider of information and communications technology (ICT) infrastructure and smart devices.
According to NSG, the MOU does not “involve any commitment of funding, and both parties will sign a binding agreement should they decide to take the collaboration to the next level”.
Shares in NSG closed 0.3 cent higher or 4% up at 7.8 cents on Jan 18.
