Vancouver, BC – December 5, 2024 – 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).

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.

Source: https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/

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