VANCOUVER, BC, Dec. 4, 2024
/CNW/ -- USA News
Group News Commentary – Artificial intelligence
(AI) is revolutionizing healthcare, offering solutions that could
dramatically reduce deficits in the U.S. healthcare system. The
U.S. Food and Drug Administration (FDA) is already shifting
its focus toward the possibilities of Generative AI (GenAI),
having recently presented a detailed 30-page report to its
committee members outlining the technology's potential. Capable of
processing and synthesizing vast amounts of data with unparalleled
speed, GenAI is emerging as a transformative force in healthcare
innovation. From accelerating drug discovery to refining
diagnostics and monitoring treatments, AI advancements are driving
rapid progress, fueled by the efforts of companies like Avant
Technologies, Inc. (OTCQB: AVAI), Roche Holding AG
(OTCQX: RHHBY, RHHVF), Amazon.com, Inc. (NASDAQ: AMZN),
Spectral AI, Inc. (NASDAQ: MDAI), Medtronic plc
(NYSE: MDT), and GE HealthCare Technologies Inc. (NASDAQ:
GEHC).
The article continued: Driving this AI transformation is a
booming $9.58 billion market for AI
Training Datasets. According to MarketsandMarkets Research,
the global AI in Precision Medicine Market is forecast to
reach US$3.92 billion by 2030,
growing at a staggering 30.7% compound annual growth rate (CAGR).
Additionally, the Healthcare IT Market is on track to hit
US$834.35 billion by 2029, with a
projected 14.7% CAGR, as AI continues to enhance system
interoperability and revolutionize patient care.
Avant Technologies' Partner, Ainnova, Signs Pilot Program
with Roche to Combat Diabetic Retinopathy
Avant Technologies, Inc. (OTCQB: AVAI), an emerging
technology company developing solutions in artificial intelligence
in healthcare, today announced it has entered into a strategic
alliance with global biotech giant Roche Holding AG (OTCQX:
RHHBY, RHHVF), and leading pre-paid health plan provider Salud
360, to begin a pilot program to combat diabetic retinopathy
using cutting-edge technology from Avant's partner
Ainnova Tech, a leading healthcare technology company
focused on revolutionizing early disease detection using
AI.
Roche, Ainnova, and Salud 360 signed a
strategic alliance to improve access to vision screening in
patients with uncontrolled diabetes with the hope of decreasing the
risks of diabetic retinopathy using Ainnova's advanced
technology and a patient-centered approach.
The pilot program will initially be implemented in Costa Rica where diabetes affects about 10.4%
of the adult population. If successful, Avant and
Ainnova hope to implement a similar program in the United States, Canada, and Europe through Ai-nova Acquisition Corp.
(AAC), the company formed by the partnership between
Avant and Ainnova.
"At Roche, we are committed to timely diagnosis of
diseases to improve clinical outcomes and thus contribute to the
sustainability of the healthcare system," said, Alvaro Soto, General Manager of Roche
Central America, Caribbean, and Venezuela. "By leveraging technology, we seek
to improve lives, optimize diagnoses, and ensure that every patient
has access to timely and effective treatment. With this model, we
not only seek to address the problem of diabetic retinopathy, but
also to establish a replicable path for other diseases that require
innovative solutions."
The pilot program will use non-mydriatic fundus cameras and
artificial intelligence—developed by Ainnova Tech—to
automatically analyze retinal images and identify microscopic
changes in the retina. Such changes would be an early indicator of
diabetic retinopathy without the need for invasive tests.
By implementing the pilot program in Costa Rica, this strategic alliance can take
advantage of the country's robust healthcare system and its focus
on technological innovation. Patients who are members of Salud
360 will be the first to benefit from screenings at affiliated
clinics. Those at risk will be referred immediately to
ophthalmology specialists, guaranteeing comprehensive and timely
care.
The results of this pilot program will be the basis for
developing the model beyond borders to benefit communities facing
similar challenges in accessing medical care.
"We are proud to be able to put our technology at the service of
a project that has the potential to prove itself as a massive
impact model in early detection, and which we believe is replicable
globally," said Vinicio Vargas, CEO
of Ainnova Tech and member of AAC's Board of
Directors. "Today, we are starting with diabetic retinopathy, but
the vision is that we can eventually multiply this same effort for
other critical diseases that require innovative solutions."
According to data from the Costa Rican Institute for Research
and Teaching in Nutrition and Health (Inciensa), uncontrolled
diabetes is the leading cause of preventable blindness in the
country's adult population. To make matters worse, between 20% and
40% of diabetic patients develop diabetic retinopathy, a silent but
devastating condition if not detected and treated in time.
According to the World Health Organization, 80% of cases
of blindness due to diabetes are preventable with early and
effective interventions. Therefore, early detection is crucial and
technological innovation can help make a huge difference.
CONTINUED… Read this and more news for Avant Technologies
Inc.
https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
Other recent industry developments and happenings in the
market include:
Amazon.com, Inc. (NASDAQ: AMZN), through its AWS
re:Invent—Amazon Web Services (AWS) subsidiary, recently
announced that LG AI Research, the artificial
intelligence (AI) research hub of South Korean conglomerate LG
Group, has used the world's leading cloud to develop its new
pathology foundation model (FM) for earlier cancer diagnosis and
treatment. The histopathology image-specific model, EXAONEPath,
analyzes tissue sample images from cancer patients in under a
minute, cutting genetic testing times from two weeks, helping
doctors deliver faster and more effective treatments.
"The healthcare industry is making rapid progress in its use of
AI on AWS to accelerate diagnoses and get patients into treatment
faster," said Dan Sheeran, general
manager, Healthcare and Life Sciences at AWS. "Using
AWS, LG AI Research can develop and use EXAONEPath at
an unprecedented scale, reducing data processing and model training
times and improving accuracy. This will allow healthcare providers
to improve cancer diagnoses and treatments, reduce wait times, and
personalize patient care."
EXAONEPath delivers 86.1% accuracy in detecting cancer-related
cellular features, matching top pathology models while
significantly reducing training time with AWS—from 60 days
to one week. By leveraging Amazon SageMaker and advanced
AWS services, LG AI Research processed 285 million
data points and over 35,000 high-resolution tissue images in just
eight months, cutting costs by 35% and data preparation time by 95%
for faster, more efficient cancer detection.
Spectral AI, Inc. (NASDAQ: MDAI), an artificial
intelligence (AI) company focused on revolutionizing medical
diagnostics to enable faster, more accurate treatment decisions in
wound care, recently announced the successful completion of
truthing for all images gathered from burn centers across the
USA. This milestone represents a
pivotal step in training Spectral's proprietary DeepView®
System to predict wound healing outcomes accurately. Having
completed the process for burn centers, Spectral AI is now
initiating truthing for images collected from emergency departments
and emergency rooms nationwide, expanding the scope of the
DeepView® System's capabilities.
Truthing is the process of collecting verified data on wound
healing to train AI algorithms. By combining early treatment images
with biopsies, assessments, and expert evaluations, the DeepView®
System can predict which wounds will heal naturally and which need
intervention.
"By completing the truthing process for burn centers, this adds
to Spectral AI's largest comprehensive tissue dataset,
encompassing over 3,000 biopsied images," said Dr. J. Michael DiMaio, Chairman of Spectral AI's
Board of Directors. "This achievement reflects collaboration
between internationally recognized burn experts, skilled
dermatopathologists, and our dedicated engineers and data
scientists. This multidisciplinary effort ensures that our
technology evolves with precision and reliability, surpassing the
limitations of traditional diagnostic methods."
Medtronic plc (NYSE: MDT), a global leader in healthcare
technology, recently announced U.S. Food and Drug
Administration (FDA) clearance for its new InPen™ app featuring
missed meal dose detection, paving the way for the launch of its
Smart MDI system with the Simplera™ continuous glucose monitor
(CGM). Medtronic's Smart MDI system combines its InPen™
smart insulin pen with its newest Simplera™ CGM — its first
disposable, all-in-one CGM that's half the size of previous
Medtronic CGMs.
"This is a significant leap forward for those on multiple daily
injections, offering intelligent dosing insights and simplifying
diabetes management," said Diana
Isaacs, PharmD, BCPS, BCACP, BC-ADM, CDCES, FADCES, FCCP.
"By reducing the guesswork out of insulin dosing, this tool helps
maintain stable blood sugars, optimize long-term health, and reduce
complications from hyperglycemia."
As per the release, Medtronic will initiate a limited
market release beginning with existing standalone CGM and InPen™
customers followed by a broad commercial
launch. Medtronic has pioneered its first-of-its-kind
innovations for over 40 years, designing the future of diabetes
management through next-generation sensors (CGM), intelligent
dosing systems, and the power of data science and AI.
GE HealthCare Technologies Inc. (NASDAQ: GEHC), a leader
in digital solutions used in the diagnosis, treatment, and
monitoring of patients, recently exhibited more than 40
innovations at the Radiological Society of North America's (RSNA) 2024 Annual
Meeting, including several key artificial intelligence (AI)-enabled
technologies to optimize patient care and increase operational
efficiencies.
"GE HealthCare is on a mission to deliver technologies
that address radiologists' biggest areas of concern," said
Peter Arduini, CEO of GE
HealthCare. "We are innovating new solutions using the latest
AI and digital technologies at the device, care pathway, and
enterprise-level, helping clinicians deliver a more personal,
precise, and human approach to care from diagnosis to treatment to
recovery."
Source:
https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
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