Recently, the number of doctors who are researching and developing medical artificial intelligence (AI) for 'mental illnesses' such as depression and stress, centered around general hospitals, is increasing. In particular, the mental health of modern people is becoming more important than physical health management, and the industry's interest in mental health mental care that combines medical big data and artificial intelligence (AI) services for mental health-related diseases and improvement is increasing.
Multimodal data platform specialist Miso Information Technology (CEO Dong-wook Ahn) announced on the 5th that it has signed a business partnership with Minds AI (CEO Jeong-ho Seok, Professor of Psychiatry at Gangnam Severance Hospital), Korea's top mental health specialist company, on the mental health big data platform Mental Care to change modern people's perception of psychiatry and help patients suffering from mental illnesses such as depression and suicide prevention through medical big data analysis.
Smile Information Technology has expanded its big data platform business based on medical data integration and clinical research solutions, with university hospitals and general hospitals across the country, including Yonsei Medical Center, Chonnam National University Hospital, and Konkuk University Hospital, as its customers, and has achieved remarkable results, including the highest sales last year. It plans to further expand its PHR healthcare business in preparation for the aging society by building a medical big data platform and expanding its personal health record (PHR) business that records and manages personal health information. Through this mental health mental care business partnership with Minds AI, it will go beyond physical health checkups (PHR) to provide a service that allows people who are concerned about mental illness management such as depression and stress to take care of their own mental care.
Minds AI has been developing suicide prevention, diagnosis, and treatment technologies based on the capabilities of Professor Seok Jeong-ho of the Department of Psychiatry at Gangnam Severance Hospital, who has been running an intractable depression clinic for over 20 years, and has received great attention from the psychiatry and digital healthcare industries since its establishment. Together with Micro Information Technology, they are collaborating on a mental care service business such as an integrated mental health diagnosis and treatment platform that combines biomarkers and AI and advanced solutions.
Ahn Dong-wook, CEO of Smile Information Technology, said, “We will present Minds AI, a service that allows users to easily take care of their own mental health, so that AI can help and comfort even the wounded hearts of modern people through multimodal data analysis of voice, facial expression, and emotion.”
Minds AI CEO Seok Jeong-ho said, “The psychiatric symptoms we commonly experience are not simply a matter of will or determination, but rather a complex mix of various causes, and appropriate treatment is essential.” He added, “We will open a new era in the treatment of mental illness through customized digital therapeutics using various medical data analyses and artificial intelligence.”
Meanwhile, market research firm Polaris Market Research predicted that the AI-based mental health management market size will grow from USD 921.53 million (KRW 1.2648 trillion) in 2023 to USD 10.33409 billion (KRW 14.1835 trillion) in 2032. The global digital therapeutics market is expected to grow rapidly to approximately KRW 22 trillion (USD 17.34 billion) by 2030. The market has become more active recently with the first digital therapeutic for depression being approved by the U.S. Food and Drug Administration (FDA), providing a good opportunity for Miso Information Technology and Minds AI's mental health care business to advance into global markets such as North America, Europe, and Central Asia as well as Korea.
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