SoftBank Group and Tempus AI Announce Strategic Joint Venture in AI-Driven Medical Data Analysis and Treatment Recommendations
SoftBank Group, the Japanese technology investment firm, has announced a strategic joint venture with Tempus AI, a company specializing in AI-driven medical data analysis and treatment recommendations. This partnership marks another significant move in SoftBank’s recent series of AI investments as the company ramps up its investment activities following a period of relative quiet.
Background on Tempus AI
Tempus AI is renowned for its genomic testing services and AI-powered treatment and clinical trial recommendations in the United States, leveraging a comprehensive database of millions of patient clinical records. The company has also recently caught the eye of Google, an Alphabet company that is still on a spending spree to acquire and develop artificial intelligence technologies.
Google’s Support for Tempus AI
Google’s support is crucial for Tempus, as the search giant has been a major player in deploying AI over time. This includes standout systems like AlphaGo and foundational innovations such as the transformer architecture used in ChatGPT.
Partnership Details
The partnership between SoftBank and Tempus AI is expected to close in July, subject to usual closing conditions, and will involve an investment of 15 billion yen (approximately $93 million) from each party. The partnership aims to enable the deployment of advanced services in Japan, making it one of the first non-US healthcare markets with this type of connected health capabilities.
Conclusion
This partnership between SoftBank and Tempus AI, coupled with Tempus’s market lead and its continuous strategic partnerships with numerous tech giants, establishes it as a significant participant among companies addressing new AI-powered healthcare services.
Frequently Asked Questions
Q: What is the purpose of the partnership between SoftBank and Tempus AI?
A: The partnership aims to enable the deployment of advanced services in Japan, making it one of the first non-US healthcare markets with this type of connected health capabilities.
Q: What is the investment involved in the partnership?
A: The partnership will involve an investment of 15 billion yen (approximately $93 million) from each party.
Q: What is Tempus AI’s main focus?
A: Tempus AI specializes in genomic testing services and AI-powered treatment and clinical trial recommendations in the United States, leveraging a comprehensive database of millions of patient clinical records.
Q: What is SoftBank’s role in the partnership?
A: SoftBank is a strategic investor in Tempus AI, providing financial support and expertise to help the company expand its services globally.
