A unique confluence of key factors fuels China’s leadership and momentum ahead of the US in AI health technology. Massive data availability, low-cost labor to prepare this machine-learning information, and the need to offset doctor shortages contribute to growth in this highly specialized area. The nation’s 2016 “Healthy China 2030” policy helped set the stage for the country’s overall rise in medical and health technology, with digital companies both established and new vying for resources and regulatory approval.
An increased focus on privacy and data protection accompanies China’s ascension in AI health technology. Unlike the U.S., Chinese healthcare companies are not required to report data breaches impacting 500+ people, and vulnerabilities have been identified in the data collection at Chinese hospitals, especially as the pandemic has furthered the digitalization of healthcare. Recognizing the need to protect better personal data, enhanced data privacy security measures are becoming an industry norm. China implemented the Personal Information Protection Law in November 2021 as a significant step.
Written by: Ames Gross – President and Founder, Pacific Bridge Medical (PBM)
Mr. Gross founded PBM in 1988 and has helped hundreds of medical companies with regulatory and business development issues in Asia. He is recognized nationally and internationally as a leader in the Asian medical markets. Mr. Gross has a BA degree, Phi Beta Kappa, from the University of Pennsylvania and an MBA from Columbia University.
Source used in the article: https://www.ft.com/content/c1fe6fbf-8a87-4328-9e75-816009a07a59