AI Startup, Recursive, Signs Memorandum of Understanding with Saudi Arabia’s Largest Medical Research Institution, King Abdullah International Medical Research Center, to Develop AI and Data Science Solution for Tackling Tuberculosis

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AI Startup, Recursive, Signs Memorandum of Understanding with Saudi Arabia’s Largest Medical Research Institution, King Abdullah International Medical Research Center, to Develop AI and Data Science Solution for Tackling Tuberculosis

2024-11-28 12:02 Last Updated At：12:11

RIYADH, Saudi Arabia & TOKYO--(BUSINESS WIRE)--Nov 27, 2024--

Recursive Inc. (Headquarters: Shibuya-ku, Tokyo; CEO: Tiago Ramalho; hereinafter referred to as "Recursive"), a developer of AI solutions that facilitate sustainable business transformation, is pleased to announce the signing of a Memorandum of Understanding (MoU) with King Abdullah International Medical Research Center (KAIMRC) -- the largest medical research institution in the Kingdom of Saudi Arabia, a part of the Saud Bin Abdulaziz University for Health Sciences (KSAU-HS) and connected to Ministry of National Guard-Health Affairs, a nation-wide healthcare system with specialized hospitals and transplant centers and a network of primary to tertiary care hospitals across Saudi Arabia, -- to jointly develop an advanced AI system for the early screening of tuberculosis (hereinafter referred to as “TB”; *1) .

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241127028144/en/

This partnership, formalized on November 11, 2024, during the Riyadh Global Medical Biotechnology Summit (#RGMBS2024) organized by the Ministry of National Guard with a strategic partnership of the Saudi Ministry of Investment, combines Recursive’s expertise and commitment to leverage AI to facilitate sustainability with KAIMRC’s commitment to innovative research to tackle infectious diseases. Recursive will support KAIMRC in developing an AI system that enhances the early detection of TB, improves the accuracy and speed of diagnosis, and accelerates research and prediction capabilities. Together, both organizations aim to contribute significantly to Saudi Arabia’s Vision 2030, which includes transforming the nation’s healthcare system and improving the quality of life for its citizens. This partnership also aligns with the United Nations Sustainable Development Goals (SDGs), particularly Goal 3, which focuses on ensuring healthy lives and promoting well-being for all at all ages.

Background
In 2023, TB surged as the world’s top infectious disease killer, surpassing COVID-19. Globally, TB caused approximately 1.25 million deaths, and about 10.8 million people worldwide fell ill with TB, including 8.2 million people who were newly diagnosed with the disease. Among the 400,000 people estimated to have developed multidrug-resistant or rifampicin-resistant TB (MDR/RR-TB; *2); in 2023, only 44% were diagnosed and treated in 2023. Although TB is preventable and curable -- with a treatment success rate of 68% for MDR/RR-TB patients (*3) -- without timely medical intervention, it remains a fatal disease. As a result, ending the TB epidemic by 2030 has become a critical component of the United Nations Sustainable Development Goals under Goal 3: Ensure healthy lives and promote well-being for all at all ages.

In addition, the Kingdom of Saudi Arabia End-TB strategy by 2035, part of the National Tuberculosis Program (NTP) in the Kingdom of Saudi Arabia, aims to decrease TB mortality and incidence rates by 95% and 90%, respectively, compared to 2015 levels (*4). Saudi Arabia is also pursuing an ambitious agenda for transforming the nation’s healthcare infrastructure through its Vision 2030 initiatives.

Anticipated impact and vision
Through co-development efforts between KAIMRC scientists, Ministry of National Guard Health Affairs (MNGHA) physicians, and Recursive, chest X-ray imaging data will be utilized to enhance early screening and detection of TB. This collaborative approach aims to facilitate timely diagnosis and treatment, reducing the risk of mortality and preventing further transmission.

This collaboration aims not only to enhance TB diagnosis within Saudi Arabia but also to create a scalable model that can be deployed in other regions with high TB burdens. Furthermore, these collaborative efforts aim to expand this AI-powered and data science approaches to address other infectious diseases, fostering innovation that strengthens global healthcare systems and drives broader public health advancements.

“We are truly honored to partner with KAIMRC on this groundbreaking initiative,” said Tiago Ramalho, Co-Founder and CEO of Recursive Inc. “This collaboration embodies Recursive’s commitment to fostering a sustainable future by harnessing the power of cutting-edge AI technology. By combining KAIMRC’s pioneering medical research with our AI expertise, we are confident we can make a meaningful impact, not only in Saudi Arabia but also in regions worldwide that face the increasing challenge of TB and other infectious diseases.”

Recursive will continue to develop and leverage AI technologies to tackle global challenges, driving innovation and advancing efforts to create a more sustainable world.

[About Recursive Inc.]
Recursive is a service provider that offers AI solutions for building a sustainable future. By combining expertise in diverse industries such as environment, energy, healthcare, pharmaceuticals, food, and retail as well as advanced technological capabilities and specialized knowledge in sustainability, Recursive provides AI consulting services and technical development. In order to leave a better global environment and society behind for future generations, Recursive’s unparalleled professionals are leading the creation of a new society with world-class, cutting-edge technology.
https://recursiveai.co.jp/en/

South Korea's central bank cuts a key rate to nurse a slower economy

2024-11-28 12:06 Last Updated At：12:11

SEOUL, South Korea (AP) — South Korea’s central bank on Thursday lowered its key policy rate for the second straight month and said the country’s economy will grow at a slower pace than it initially anticipated.

Following a meeting of its monetary policymakers, the Bank of Korea cut its benchmark interest rate by a quarter percentage point to 3%. The bank lowered its outlook for the country’s economic growth from 2.4% to 2.2% for 2024 and from 2.1% to 1.9% for 2025.

It was the second straight month that the bank took steps to lower borrowing costs and expand money supply, despite the lingering effects of high inflation and alarming levels of household debt, as concerns grow about a faltering economy.

The bank had also slashed its policy rate by a quarter percentage point to 3.25% in October, which presented its first rate cut since May 2020, when the economy was grappling with the COVID-19 pandemic.

The bank said the country’s trade-dependent economy is facing growing uncertainties in global economic trends and inflation, which it said could be impacted by the policies of the new U.S. government led by Donald Trump and ongoing geopolitical conflicts.

Since winning reelection, Trump has vowed to slap huge new tariffs on foreign products entering the United States, including those from Mexico, Canada and China, which he insists will create more domestic jobs and shrink the federal deficit.

The Bank of Korea said South Korea’s economy has been losing its growth momentum amid weak domestic consumption, slowing exports and decreasing employment.

“Going forward, domestic consumption will see a mild recovery, but the recovery in exports is likely to be weaker than initially anticipated due to intensifying competition and strengthening of protectionist trade policies in key industries,” the bank said in a statement.