SoftBank Group reportedly plans to roll out an AI-powered medical service analysing healthcare data in Japan through a joint venture with US company Tempus AI, with the aim of launching within one to two years.  

Nikkei Asia reported the two companies will each own a 50 per cent share in the JV, initially valued at around JPY30 billion ($188 million), with work on the project to begin next month.

The companies will begin by collecting and analysing patient data, along with using photographs from Japanese hospitals and universities to train AI models, showcasing common patterns among patients.

It will provide services to hospitals with the view of improving healthcare services, initially targeting cancer trends and then expanding to cardiac diseases, Nikkei Asia reported.

After being established in Japan, the JV will expand to overseas markets including south-east Asia.

Tempus AI was founded in 2015 and raised $200 million from SoftBank Group in April. It also counts Google as a backer.

It made its trading debut on the Nasdaq earlier this month, raising $410 million on a valuation of more than $6 billion.

In the US, it operates as a healthcare diagnostics company, using AI to interpret medical tests and help professionals provide more accurate treatment for patients.

SoftBank CEO Masayoshi Son is preparing to hold a press conference this week to announce further details about the project with Tempus AI, added Nikkei Asia.