Babylon announces £50m investment to build AI platform

UK based digital healthcare company, babylon announces circa US$60m (~£50m) investment to build the world’s most advanced artificial intelligence (AI) platform in healthcare, to support medical diagnosis and predict personalised health outcomes globally.

babylon’s technology, available from any mobile device or connected computer worldwide, aims to put an accessible and affordable health service into the hands of every person on Earth. babylon has assembled one of the largest teams of scientists, clinicians, mathematicians and engineers to focus on combining the ever-growing computing power of machines, with the best medical expertise of humans. babylon’s technology has positioned Britain as a leading nation fostering artificial intelligence in healthcare.

babylon’s 2017 investment of circa US$60m, is the most significant of its kind in Europe, and follows babylon’s investment of US$25m in 2016. Since January 2016, babylon has achieved exponential company growth with:

  • Over 1 million app downloads,
  • An increase in global registrations of nearly 600% to 800k patients,
  • In Rwanda alone, almost 10% of the adult population registered with babylon in the first 6 months in what must be one of the fastest adopted technologies in a developing country to date,
  • Daily consultations and triage increased up to a factor of 9,
  • Additionally, over 4 out of 5 users rate babylon with a 5-star satisfaction rating

In July 2016, babylon released their first AI-enabled symptom checker which has provided accurate, medical advice to over 250,000 people to date. In January 2017, babylon partnered with the NHS to use the same technology to power an NHS 111 app available to over a million north London residents, in what is the world’s largest deployment of AI in healthcare.

This year babylon will release a ground breaking evolution of its application, to offer diagnosis by AI that can help clinicians to accurately identify the disease and the most appropriate treatment. To achieve this, babylon has curated the largest knowledge graphs of medical content, and made advances in various applications of deep learning techniques adapted specifically for healthcare.

Dr Ali Parsa, Founder and CEO of babylon commented: “Cutting edge artificial intelligence together with ever increasing advances in medicine means that the promise of global good health is nearer than most people realise. babylon scientists predict that we will shortly be able to diagnose and foresee personal health issues better than doctors, but this is about machines and medics co-operating not competing. Doctors do a lot more than diagnosis: artificial intelligence will be a tool that will allow doctors and health care professionals to become more accessible and affordable for everyone on earth. It will allow them to focus on the things that humans will be best at for a long time to come.”

Dr Parsa added: “This significant international investment is a great vote of confidence in Britain’s continued ability to be a global leader in developing innovative technological solutions to worldwide problems.”