Melvin Toh: Medical applications of AI need data from Asia

Melvin Toh, Vice President of Pharmaceutical Development of CK Life Sciences, explained that innovative technology is a vital driving force for the regional economy. AI is one of the most important and innovative platforms, while medicine one of its most important fields of application. AI can be used in the diagnosis of diseases, for example by determining whether someone is suffering from any eye disease by simply viewing their iris. Some time ago, the American FDA granted approval for a software package that uses photos to examine whether an individual has diabetes. The process enables diagnostic work to be completed using computing methods and AI, with no need for intervention from a doctor.

Some large pharmaceutical companies are also using AI technology to manage data from vast amounts of material as a means of identifying more effective drug ingredients, or selecting better targets by which to judge the effects of medicines. However, Toh also pointed out that as the existing genetic data is mainly derived from the populations of Western countries, the results are not necessarily as accurate for Asian populations. For this reason, he believes that if companies can collect data from Asian populations and then accurately analyze and process such data, there are vast market opportunities waiting to be taken.

In terms of the development of innovative technology in Hong Kong, Toh believes that allowing innovative technology startups that are not currently making a profit to list themselves on the Hong Kong market will create huge opportunities, as one such company has already raised USD400 million recently. At the same time, Hong Kong has strong protection for intellectual property rights, while a successful application in Hong Kong can provide global protection, further helping to attract innovative technology businesses from overseas to settle in Hong Kong.