The move is part of SoftBank founder Masayoshi Son’s wider focus on AI. SoftBank and Tempus each hold a 50% stake in the venture, with SoftBank set to inject around $188 million. Operations are set to start in August, with the aim of offering three medical services to hospitals using AI to analyze personal medical data as early as within the year. Son also stated that the company aims to reach the same level of genomic testing as the U.S, where approximately 30% of patients have had the chance to receive such testing, compared to only 1% in Japan.
Key takeaways:
- SoftBank Group and Chicago-based health tech company Tempus have set up a joint venture in Japan named SB Tempus, aiming to develop AI-powered personalized medical services, starting with oncology.
- SoftBank and Tempus each hold a 50% stake in the venture, with SoftBank set to inject around $188 million. The operations will start in August.
- The JV company will collect and analyze patient genetic data from Japanese hospitals and universities to train AI patterns for patients in Japan. The AI offerings will suggest the best treatment for patients.
- SoftBank's founder Masayoshi Son has a wider focus on AI and sees its benefits in various sectors, including medicine. He also mentioned that SoftBank’s past investments were “just a warm-up” for his ambition to create an era of AI.