New UK AI Centres Will Drive MedTech Industry Growth

The Latest: On Tuesday November 6, Greg Clark, Secretary of State for Business, Energy and Industrial Strategy, announced that the national funding agency UK Research and Innovation (UKRI) will invest GBP50mn (USD64mn) in five new AI centres under Wave 2 of the Industrial Strategy Challenge Fund as part of the Data to Early Diagnosis and Precision Medicine initiative. Each centre will receive GBP10mn (USD12.8mn) in public funding augmented by investment from commercial partners, including Canon, GE Healthcare, Philips, Roche Diagnostics and Siemens. The investment marks a significant step in delivering on a major commitment in the Life Sciences Sector Deal agreed in December 2017, following publication of Sir John Bell's Life Sciences Industrial Strategy in August 2017. Implications: The AI centres will partner doctors and academics with leading medical device companies and innovative start-ups to develop new AI-based applications to improve early diagnosis of diseases, including cancer and cardiovascular diseases. As well as enhancing patient treatment, the initiative aims to achieve cost reductions for the NHS and free up resources for direct patient care.