"We are not looking for incremental changes; we are looking for quantum leaps... We are at an inflection point," Biden said at the World Economic Forum (WEF) annual meet here.
He also discussed priorities for the American government's initiative to cure cancer with eminent scientists and technologists.
According to him, better access to and analysis of data would speed up progress in developing effective cancer treatment through scientific breakthroughs in such fields as genetics and nanotechnology.
"Research and therapies are on the cusp of incredible breakthroughs," he said.
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The US V-P emphasised that tapping the treasure trove of data and information on cancer cases, research and treatments across a whole range of disciplines is vital to achieving significant progress in fighting the disease.
"We can speed up research advances and access to cures. We can do more if this information is widely shared. We are going to make sure of that," he added.
Nobel Medicine Prize laureate Elizabeth Blackburn said there is need for dynamic big-data collection and promote ways of sharing data among scientists.