As the business opportunities in the digital healthcare market continue to emerge, technology giants are taking action in advance to build cooperation with each other.
Earlier in December, we learned that Intel will replace Texas Instruments as a chip supplier for Google Glass. We also learned that Intel plans to Google glasses as a computing apparatus that can be used in the workplace, to promote the healthcare practitioner, the doctor may also start Google glasses as a tool for electronic medical record data.
The move by Intel and Google's two tech giants to advance wearable technology and its applications in healthcare is encouraging. But the fact is that the potential for further cooperation across the industry has only just begun to emerge.
Although mainstream applications of wearable technology are focused on activity tracking systems, in fact wearable health devices are emerging, and future opportunities and impacts may be limitless. Not only are the healthcare consumerism movements and modern technology giants on the way to lead our way forward, but the growing power of early change is also thoroughly thinking about the changes that wearables can bring to our health and fitness.
Unlike other industries, healthcare is deeply plagued by regulatory and long product development cycles. Whether it's an industry giant or an entrepreneur in the digital health arena, bringing successful products to market is a challenge. Startups need resources such as funds and professional consultants, while large companies need the passionate entrepreneurial spirit that drives innovation. The unprecedented changes that the healthcare industry is experiencing today are both opportunities and challenges for startups and large companies.
Take the smart watch manufacturer BasisScience as an example. This is one of the companies we invest in and the one that entered the field of wearable devices earlier. An entrepreneur and innovation network has benefited BasisScience, and it has also been helped by an infrastructure that can easily meet challenges as it grows in size. Because of this, it was acquired by Intel in March 2014.
Today, innovation in the wearable are no longer limited to motion tracking, but to improve overall quality of life, relying on important data and information that these new devices can easily collect. For example, the MC10 is developing a variety of home diagnostic and remote monitoring tools, including electronic patches for babies that monitor the baby's body temperature and wirelessly transmit it to smartphones.
Google is also working with Novartis to develop a smart contact lens to monitor the user's blood sugar levels. Oxitone has developed the world's first mobile wristband health monitor to implement continuous monitoring of lung, heart and sleep related diseases. Cerora delivers operational diagnostic information about concussions and brain damage with headphones, and this technology will be further applied to Alzheimer's disease.
Intel's entry into the healthcare industry illustrates the fact that we live in an unusually historical era, with big data, sensors and networking equipment making it possible to reshape the healthcare industry, while the industry is facing an indisputable opportunity.
In fact, we have lived in a world where technology is being applied to everything around us. Our beds, cars and refrigerators can collect data that helps us better understand ourselves. Imagine what it would be like if a large number of entrepreneurs brought their innovative products to the world in the next few years and began to work with the healthcare industry to reshape the industry in an exciting way.
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