Dutch health technology giant Philips is expanding its investment in artificial intelligence (AI)-based healthcare services in China, launching its latest healthcare solutions during the eighth China International Import Expo (CIIE) in Shanghai, to capitalize on the country's rapidly evolving digital healthcare landscape.
"AI is a key force in addressing common challenges in the medical system, and we see strong innovation momentum in China," Philips' head of Greater China, Liu Ling, told Xinhua in an interview.
A CIIE participant for eight years, Philips presented around 50 innovations this year, spanning precision diagnostics, intelligent imaging, and personalized health. Highlights included its latest multinuclear MRI system offering radiation-free imaging, and AI-powered consumer products such as toothbrushes and electric shavers.
"China is not only one of the most dynamic markets in AI development, but also has the most pressing and diverse scenarios of need in medical AI applications," Liu explained, noting that the country has developed more than 400 large AI models and over 100 licensed medical AI products.
The company's AI solutions have been applied in smart magnetic resonance imaging, AI-assisted diagnosis in hospitals, and intelligent health management tools for consumers, according to Liu.
China's AI-powered healthcare market has seen strong growth momentum in recent years, driven by advances in digital infrastructure and supportive government policies.
According to market research firm Frost & Sullivan, the value of the AI-based healthcare market in China is projected to surge from 8.8 billion yuan (1 yuan = Rp2,345) or around 1.2 billion US dollars (1 US dollar = Rp16,704) in 2023 to 315.7 billion yuan in 2033, representing a compound annual growth rate of 43.1 percent.
Earlier this year, China launched the national AI Plus initiative, which outlines steps to advance the application of AI in areas such as assisted diagnosis and health management, thereby improving the capacity and efficiency of primary healthcare services.
Philips has collaborated with several hospitals to implement its magnetic resonance imaging technology, which can triple the scanning speed, reducing the workload of medical personnel and improving the medical experience.