Issued on behalf of Avant Technologies Inc.
VANCOUVER – USA News Group News Commentary – Experts predict that artificial intelligence (AI) will soon transition from a novel concept in healthcare to a critical resource. With more than 800 FDA-cleared health AI applications, expectations are rising for AI to revolutionize the industry. A recent Fast Company article forecasts that by 2025, health AI will feature advancements like home testing, AI agents, passive monitoring, ambient documentation, and autonomous coding. Meanwhile, the World Economic Forum is emphasizing how generative AI could transform clinical trials. A new survey from eClinicalWorks reveals that 90% of healthcare professionals hold a positive outlook on AI’s role in the sector. Driving this progress are several innovators developing cutting-edge AI tools to meet growing industry demand, including new advancements from companies such as Avant Technologies, Inc. (OTCQB: AVAI), Tempus AI, Inc. (NASDAQ: TEM), Spectral AI (NASDAQ: MDAI), GE HealthCare Technologies Inc. (NASDAQ: GEHC), and Schrödinger, Inc. (NASDAQ: SDGR).
The article continued: Analysts at market.us predict the generative AI in healthcare market will reach $17.2 billion by 2032, expanding at a CAGR of 37%. Researchers at Technavio project even broader growth, estimating the smart healthcare market—which includes telemedicine, mobile health, smart pills, and AI—will grow by $125.7 billion by 2028.
Avant Technologies and Ainnova Secure Advanced AI Algorithms for Early Detection of Four Additional Diseases in the U.S.
Avant Technologies, Inc. (OTCQB: AVAI), an emerging technology company developing solutions in artificial intelligence in healthcare, today announced its partner, Ainnova Tech, Inc., (Ainnova) a leading healthcare technology company focused on revolutionizing early disease detection using AI, has acquired an exclusive license for 4 groundbreaking, AI-driven algorithms from one of Asia’s most respected and largest healthcare institutions. These solutions, validated across diverse geographies, ethnicities, and socio-economic populations with data from over 2-million patients, will join Ainnova’s existing diabetic retinopathy and retinal disease detection solutions.
The 4 algorithms include early detection for cardiovascular risk, prediabetes and type 2 diabetes, fatty liver disease, and chronic kidney disease. Combined with Ainnova’s existing retinal disease detection tools, these new algorithms will be used with Ainnova’s powerful cutting-edge AI platform, VisionAI, to detect the early markers of these diseases quickly and accurately by applying AI.
The acquisition of an exclusive license to use 4 advanced algorithms in the Americas offers Ainova Acquisition Corp. (AAC), the company formed by the partnership between Avant and Ainnova, a robust platform for primary care providers to streamline early risk screening and improve patient care in the United States.
Ainnova will introduce these cutting-edge solutions in Latin America with strategic partners in primary healthcare services across key markets like Mexico and Brazil. AAC expects to build on Ainnova’s regional expansion by securing clearance from the U.S. Food and Drug Administration (FDA) in 2025 to then introduce these solutions in the U.S. market.
“This license represents a pivotal moment for Ainnova and for its partnership with Avant as it allows us to bring world class, validated solutions to the Americas,” said Vinicio Vargas, CEO of Ainnova. “This effort not only complements our current solutions, but it also aligns with our ongoing R&D initiatives to continue incorporating new diseases that can be detected quickly and affordably, pushing the boundaries of preventive care, and making healthcare more inclusive and accessible to all.”
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:
Tempus AI, Inc. (NASDAQ: TEM), a technology company leading the adoption of AI to advance precision medicine and patient care, recently announced the collaboration with Flatiron Health, a leading healthtech company dedicated to expanding the possibilities of point of care solutions in oncology, to integrate its comprehensive genomic testing directly into Flatiron’s cloud-based Electronic Medical Record (EMR) platform, OncoEMR® through the Molecular Profiling Integration (MPI). Flatiron’s new two-way integration with Tempus allows over 4,200 providers at 800+ U.S. cancer care locations to seamlessly order and receive test results within the OncoEMR platform, streamlining workflows and reducing administrative burden. This integration features unified ordering, real-time tracking, and access to Tempus’s full suite of tests, including AI-enabled and algorithmic options, improving efficiency and consistency for care providers.
"This collaboration represents a significant step forward in the integration of Tempus’ molecular profiling capabilities into everyday oncology practice," said Ezra Cohen, MD, Chief Medical Officer of Oncology at Tempus. "By leveraging Flatiron’s Molecular Profiling Integration within OncoEMR, we are enabling oncologists to access our comprehensive genomic tests with greater efficiency and precision, ultimately enhancing patient care and outcomes."
Spectral AI (NASDAQ: MDAI), developer of the AI-driven DeepView® System, which received Breakthrough Device Designation from the U.S. FDA in 2018, that uses multi-spectral imaging and algorithms to predict burn healing potential, recently announced that national leaders in burn care have dedicated more than an estimated 511 in-person days of physician engagement to the training and validation studies for the DeepView™ System for FDA submission. Spectral AI’s patented DeepView® technology is an AI-driven wound diagnostics platform that combines advanced algorithms with medical imaging to predict wound healing potential that has been Breakthrough Designated by the FDA.
“I am extremely proud of our Spectral AI team and the fact that we have been able to include some of our country’s most highly regarded burn experts in DeepView’s training and validation study,” said Dr. Michael DiMaio, Chairman of Spectral AI’s board of directors. “These experts allow the algorithm to be trained by the best-in-class clinicians with countless years of experience. This joint effort reflects our unwavering commitment to ensuring the DeepView® System becomes a gold-standard tool in burn care.”
GE HealthCare Technologies Inc. (NASDAQ: GEHC), a developer and provider of digital solutions used in the diagnosis, treatment, and monitoring of patients, recently unveiled three new advanced deep learning image processing and reconstruction solutions as a part of its Effortless Recon DL portfolio at the Radiological Society of North America (RSNA) 2024 Annual Meeting, in Chicago, IL. Understanding the need to improve operational efficiencies within radiology departments and the ongoing challenge of burnout experienced by clinicians, GE HealthCare developed the technologies to deliver exceptional image quality, reduce scan times, and support improved patient outcomes.
"Blurry images can compromise clinicians' ability to diagnose with confidence and speed," said Roland Rott, President and CEO, Imaging, GE HealthCare. "At GE HealthCare, we're ushering in a new era of image resolution with deep learning-powered imaging reconstruction. These AI-powered solutions not only enhance image quality but also streamline workflows, enabling radiologists to work more efficiently and cost-effectively. It also has the potential to provide patients’ more timely access to imaging and consequentially may enable earlier diagnosis and treatment. By leveraging AI and deep learning technologies, we remain committed to delivering advancements that help empower clinicians to make more confident diagnoses and improve outcomes for patients worldwide."
Schrödinger, Inc. (NASDAQ: SDGR), a developer of physics-based computational platform that enables discovery of novel molecules for drug development and materials applications, recently announced that it is broadening and accelerating its initiative to expand its computational platform to predict toxicology risk early in drug discovery. The goal of the initiative, announced earlier this year, is to develop a computational solution designed to improve the properties of novel drug development candidates and reduce the risk of development failure associated with binding to off-target proteins, which can be associated with serious side effects. In conjunction with this expansion, Schrödinger received an additional $9.5 million from the Bill & Melinda Gates Foundation, which follows the initial $10 million grant from the Gates Foundation in July 2024.
"This additional funding allows us to accelerate and broaden the scope of our initiative to rapidly develop high-quality computational models to address off-target toxicity, a significant cause of drug development failure," stated Ramy Farid, Ph.D., CEO of Schrödinger. "We are grateful to the Gates Foundation for their continued support and shared vision of using computation to reduce the potential for safety issues in preclinical and clinical research and significantly lower the cost and risk of drug development."
Source: https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
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