Issued on behalf of Avant Technologies Inc.
VANCOUVER – USA News Group News Commentary – The healthcare landscape is entering a transformative era in 2025, with artificial intelligence (AI) at the forefront of innovation. According to Future Market Insights, the AI in Healthcare Market is on track for rapid growth, projected to expand at a compound annual growth rate (CAGR) of 18.2% over the next decade and reach an estimated US$77.46 billion by 2035. This surge highlights AI’s revolutionary capabilities in areas like clinical decision-making, medical imaging, diagnostics, predictive analytics, and drug discovery. Established tech leaders and agile startups alike are vying for a share of the US$26-billion market, with notable activity from new players like Hippocratic AI, which recently secured $141 million in funding. Among the companies advancing in the field are Avant Technologies, Inc. (OTCQB: AVAI), IQVIA Holdings, Inc. (NYSE: IQV), NVIDIA Corporation (NASDAQ: NVDA), Alphabet Inc. (NASDAQ: GOOG, GOOGL), and Amazon.com, Inc. (NASDAQ: AMZN).
The article continued: Collaboration is poised to play a crucial role in harnessing AI’s potential to reshape healthcare, according to the World Economic Forum. On the regulatory front, the Paragon Health Institute, a Washington, D.C.-based think tank, is urging the FDA to implement measures that preserve incentives for continuous software improvement.
Avant Technologies and Ainnova Begin Implementing and Testing Advanced AI Algorithms for Early Detection of Additional Diseases
Avant Technologies, Inc. (OTCQB: AVAI), an emerging leader in AI-driven healthcare innovation, and its partner, Ainnova Tech, a leading healthcare technology company focused on revolutionizing early disease detection using AI, today announced that Ainnova has started the process of implementing the 4 advanced AI-driven algorithms the company acquired last month into its state-of-the-art Vision AI platform.
During the implementation, Ainnova will configure the APIs within its platform, update the functionalities, and then test the new groundbreaking algorithms on a demo population group. The demo group will offer valuable feedback ahead of the Vision AI platform being introduced in several commercial pilot programs in Latin America with strategic partners in primary healthcare services across key markets in the region, including with two major pharmaceutical companies in Costa Rica and in Mexico, and in partnership with several pharmacy chains equipped with labs on site throughout Mexico.
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 Vision AI to detect the early markers of these diseases quickly and accurately by applying AI.
“Patients with chronic conditions face a variety of complications,” said Vinicio Vargas, CEO of Ainnova. “The ability to screen these individuals in basic health services or during routine primary care check-ups, using fast, non-invasive tests powered by AI, is transformative. Such technology enables highly accurate and timely detection of potential risks or issues, which ensures that patients are referred efficiently to the appropriate specialist. This approach has the potential to significantly enhance patient outcomes and streamline healthcare processes.”
The acquisition of an exclusive license to use 4 advanced algorithms in the Americas from one of Asia’s most respected and largest healthcare institutions, offers Ai-nova 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 improving patient care throughout the Americas. AAC expects to build on Ainnova’s regional expansion by securing clearance from the U.S. Food and Drug Administration in 2025 to then introduce these solutions in the U.S. market.
Late last year, prior to announcing the 4 advanced AI-driven algorithms, Avant announced a game-changing collaboration with pharma giant Roche, highlighting Avant’s ability to partner with global healthcare leaders and leverage its innovative technologies for real-world impact. Together with Ainnova and Salud 360, Avant set forth to launch a pilot program to combat diabetic retinopathy has been launched in Costa Rica. This initiative uses VisionAI to automate retinal image analysis, identifying early disease markers and facilitating timely interventions. If successful, the program aims for broader adoption in the United States, Canada, and Europe through AAC.
“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.”
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:
IQVIA Holdings, Inc. (NYSE: IQV), the world’s leading provider of clinical research services, commercial insights and healthcare intelligence, recently announced a strategic collaboration with NVIDIA Corporation (NASDAQ: NVDA) to help realize the potential of AI in healthcare and life sciences. Together, the companies are partnering to enhance IQVIA Healthcare-grade AI™, leveraging NVIDIA’s AI Foundry service to transform life sciences processes from research and development to commercialization. This collaboration aims to automate complex workflows, create efficiencies, and improve patient outcomes while maintaining high standards of privacy, compliance, and safety. By combining IQVIA’s data and expertise with NVIDIA’s technology, the partnership is set to revolutionize the healthcare and life sciences industries.
"This represents a significant leap forward in how we apply AI to healthcare and life sciences," said Bhavik Patel, President, Commercial Solutions, IQVIA. "We are excited to combine our industry-leading capabilities and a decade of experience in artificial intelligence with NVIDIA’s advanced AI technologies. We will build new solutions powered by AI agents trained on world-class healthcare information and optimized for life sciences workflows. This collaboration will advance our mission to help our clients accelerate innovation and treatments to market."
IQVIA and NVIDIA are partnering to develop AI agents, with initial solutions expected this year. The collaboration includes access to NVIDIA's advanced tools like NIM microservices, NeMo, and the DGX Cloud platform, along with support from NVIDIA's experts. They will also use NVIDIA's AI Blueprint to unlock valuable insights from complex, previously inaccessible data.
"By integrating NVIDIA AI Foundry platform and services, IQVIA can enhance its Healthcare-grade AI solutions to create custom, domain-specific models and agents for thousands of complex workflows needed in healthcare and life sciences," said Kimberly Powell, vice president of healthcare, NVIDIA. "AI agents can become digital companions to researchers, doctors and patients, helping unlock enormous productivity and expanding access to care globally."
Recently in December, Health AI startup Suki announced a partnership with Alphabet Inc. (NASDAQ: GOOG, GOOGL), subsidiary Google Cloud, as part of its initial push to expand beyond clinical documentation, to deliver more assistive tech for clinicians. Through the partnership, Suki is building patient summary and Q&A features using Google Cloud’s Vertex AI platform.
“We were never really building a clinical documentation tool only, it was supposed to be an assistant,” said Punit Soni, the founder and CEO of Suki, in an interview with CNBC. “An assistant can help you with documentation, but it can also start doing other things.”
Suki is rolling out new features with Google Cloud to assist clinicians by streamlining patient care and reducing administrative burdens. The platform now includes a patient summarization feature that provides a quick overview of biographical details, visit history, and medical issues, saving doctors 15 to 30 minutes per patient. Clinicians can also use Suki’s Q&A tool to pull specific data, like lab results or past procedures, with simple prompts. These features, available to select users now and generally next year, come at no additional cost and aim to address healthcare worker burnout, with clinicians spending nearly 28 hours a week on administrative tasks. Suki, used by 350 U.S. health systems, has tripled its client base this year and raised $70 million in funding, positioning itself as a key player in the growing AI-powered medical documentation market.
Amazon.com, Inc. (NASDAQ: AMZN) through its subsidiary Amazon Web Services (AWS) recently announced a partnership with General Catalyst that aims to accelerate the development and deployment of health-care AI tools. As per the partnership, General Catalyst’s portfolio companies, starting with Aidoc and Commure, will use AWS’ services to build new solutions. No financial terms were disclosed.
“Without a strong partner like Amazon and AWS to stand alongside them, to co-develop and support these companies ... it’s not going to move as fast as we hope,” said Chris Bischoff, head of global health-care investing at General Catalyst, in another interview with CNBC. “GC has spent a lot of time thinking about how health systems can transform themselves, and we recognize that it’s not going to be through 1,000 companies, and we need solutions that are really enterprise grade. Amazon shares the same vision, so we are starting with these two.”
Source: https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
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