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SenseTime spins off AI medical unit to drive growth

SenseTime, a Hong Kong-listed AI company, plans to spin off its healthcare platform to facilitate its growth amid the rise of large language models (LLMs) in the medical industry.

The platform provides AI solutions for diagnostics, treatment assistance, and patient services for hospital groups.

Professor Li Hongsheng, chief scientist for medical foundation models at SenseTime Healthcare, highlighted that the platform combines AI algorithms with image post-processing technology to support patient care.

The AI-assisted platform guides patients from booking appointments to post-discharge care.

Patients can explain their symptoms to the AI, which directs them to the right department. After discharge, the platform offers follow-up care, with human doctors verifying AI-generated results.

The new healthcare entity will leverage SenseTime’s expertise in LLMs, similar to those behind generative AI models like ChatGPT.

Recent SenseTime developments

Timeline
03-Jan-2025 🏢 SenseTime downsizes SG office space amid competition
  • SenseTime downsizes office in Singapore.
  • Increased AI competition prompts relocation decision.
11-Dec-2024 💰 SenseTime to raise $360m through stock placement
  • SenseTime plans to raise HK$2.8 billion.
  • Funds to support shift to genAI with new shares.
04-Dec-2024 🔄 SenseTime pivots to genAI amid financial challenges
  • SenseTime shifts focus to genAI for growth.
  • Restructuring includes new divisions and leaders.
24-Apr-2024 📈 SenseTime pauses trading as stock surges 30% with new AI model’s launch
  • SenseTime shares surged 36% post AI model launch
  • New SenseNova 5.0 rivals OpenAI’s ChatGPT-4

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