PALM BEACH, Fla., Nov. 12, 2024 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - According to experts tracking the artificial intelligence (AI) infrastructure market, the growth of the AI in Healthcare industry is driven by the growing need for improvised healthcare services due to the imbalance between the healthcare workforce and patients, improving computing power, and declining hardware cost. A report from MarketsAndMarkets said that the AI in Healthcare industry is projected to grow from USD 20.9 billion in 2024 and is estimated to reach USD 148.4 billion by 2029; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 48.1% from 2024 to 2029. AI plays a pivotal role across diverse healthcare applications, necessitating the implementation of sophisticated algorithms for tasks ranging from patient data analysis to drug discovery. Its applications span patient care, risk analysis, lifestyle management, precision medicine, medical imaging, and more. Successful AI deployment hinges on comprehensive services such as deployment, integration, and ongoing support and maintenance. Machine learning revolutionizes computing by training systems to learn from data without explicit programming. Instead of predefined instructions, machine learning relies on algorithms to discern patterns and relationships in data, enhancing accuracy and performance with increased exposure to information. Key attributes include data-driven processes, adaptability to new data, and the absence of explicit programming. In healthcare, machine learning intersects with AI, offering transformative applications. It aids in medical diagnosis and imaging by detecting diseases in early stages through image analysis and predicting risks based on electronic health records. Active A.I. companies active in the markets include: Avant Technologies Inc. (OTCQB: AVAI), C3 AI (NYSE: AI), NVIDIA Corporation (NASDAQ: NVDA), Palantir Technologies Inc. (NYSE: PLTR), SoundHound AI, Inc. (NASDAQ: SOUN).

MarketsAndMarkets continued: “Additionally, it accelerates drug discovery, optimizes administrative tasks, and enhances public health initiatives by tracking outbreaks and identifying high-risk individuals. Despite its potential, challenges like data privacy, algorithmic bias, and ethical considerations underscore the importance of careful integration and human oversight in the evolving healthcare landscape shaped by machine learning. By segment, AI in healthcare industry for Medical Imaging & Diagnostics segment will account for highest CAGR during the forecast period… AI is reshaping medical imaging and diagnostics, steering in a new era of precision and efficiency. By employing super-resolution techniques, AI reconstructs lower-resolution medical images into highly detailed visuals, aiding in more accurate diagnoses. Automated image analysis and detection capabilities enable AI algorithms to swiftly identify abnormalities, such as tumors or fractures, streamlining the diagnostic process. Moreover, AI’s role in personalized medicine is pivotal, predicting disease risks and treatment responses, and even assisting in surgical planning. This transformative technology enhances the accuracy of diagnoses and contributes to more efficient workflows, improved accessibility to diagnostics, and the potential for personalized treatment strategies.”

Avant Technologies, Inc. (OTCQB: AVAI) and Ainnova Tech Form Joint Venture to Advance Early Disease Detection Using Artificial Intelligence - Avant Technologies, Inc. (“Avant” or the “Company”), and Ainnova Tech, Inc., (Ainnova) a leading healthcare technology (healthtech) company focused on revolutionizing early disease detection using artificial intelligence (AI), today announced the companies have entered into a joint venture and licensing agreement with the formation of Ai-nova Acquisition Corp (AAC). The partnership was formed to advance and commercialize Ainnova’s technology portfolio, including its “VisionAI” platform and its “Versatile Retinal Cameras.”

Ainnova will contribute to AAC its proprietary technology portfolio, including VisionAI and its retinal camera technology, and the licensing rights for AAC to develop, maintain, and commercialize the technology portfolio in both North America (United States and Canada) and Europe, while Avant will be responsible for the capital requirements to operate AAC.

VisionAI is a cutting-edge, AI-driven platform that can detect diabetic retinopathy and other retinal diseases, as well as diseases unrelated to the retina like cardiovascular disease and potentially even Alzheimer’s with high accuracy and speed using retinal scans. Meanwhile, Ainnova’s next-generation versatile retinal cameras are seamlessly integrated with VisionAI for precise retinal scans. Along with the VisionAI software, Ainnova’s retinal cameras, offer AAC SaaS + retinal camera commercialization opportunities with opticians and eye care centers in two extremely profitable markets, North America and Europe.

Ainnova and Avant’s partnership seeks to make retinal scanning a new standard in primary care and basic health services by diagnosing a host of diseases early through a simple visual test that AAC can offer as a scalable and accessible solution.

Vinicio Vargas, Chief Executive Officer of Ainnova, commenting on the partnership said, “This joint venture aligns perfectly with our long-term goals, and as we work together to push the boundaries of what’s possible in the healthtech sector, we look forward to setting new standards and bringing transformative solutions to patients around the world in an accessible way.” CONTINUED… Read this and more news for Avant Technologies at: https://www.financialnewsmedia.com/news-avai/

In other industry developments and happenings in the market recently include:

C3 AI (NYSE: AI), the Enterprise AI application software company, recently announced the issuance of a new U.S. patent (US 12,111,859) for its advanced AI agent generative AI technology. This patent reinforces C3 AI’s commitment to innovation and its leadership in generative AI.

The patent details a sophisticated system and method for managing multiple AI agents to orchestrate actions using multimodal foundation models. The C3 Generative AI architecture orchestrates AI agents, tools, and smaller machine-learning models to retrieve information across both structured and unstructured data, reason on information, take actions, produce natural language summaries, and identify actionable insights.

SoundHound AI, Inc. (NASDAQ: SOUN), a global leader in voice artificial intelligence, recently announced that the company’s AI phone ordering technology has crossed a milestone, processing over 100 million interactions with restaurant customers, including hundreds of millions of dollars’ worth of food orders. SoundHound’s current roster of customers using its Smart Ordering AI service includes Chipotle, Jersey Mike’s, Applebee’s, Habit Burger, Noodles & Company, Beef O’Brady's, Casey’s General Stores, and many more.

This new data from SoundHound pertains to customer interactions handled by the company’s cutting-edge restaurant phone solutions, including those processed by AI phone ordering services developed by SYNQ3 (acquired by SoundHound in early 2024).

NVIDIA Corporation (NASDAQ: NVDA) recently announced that xAI’s Colossus supercomputer cluster comprising 100,000 NVIDIA Hopper Tensor Core GPUs in Memphis, Tennessee, achieved this massive scale by using the NVIDIA Spectrum-X™ Ethernet networking platform, which is designed to deliver superior performance to multi-tenant, hyperscale AI factories using standards-based Ethernet, for its Remote Direct Memory Access (RDMA) network.

Colossus, the world’s largest AI supercomputer, is being used to train xAI’s Grok family of large language models, with chatbots offered as a feature for X Premium subscribers. xAI is in the process of doubling the size of Colossus to a combined total of 200,000 NVIDIA Hopper GPUs. The supporting facility and state-of-the-art supercomputer was built by xAI and NVIDIA in just 122 days, instead of the typical timeframe for systems of this size that can take many months to years. It took 19 days from the time the first rack rolled onto the floor until training began.

Anthropic and Palantir Technologies Inc. (NYSE: PLTR) recently announced a partnership with Amazon Web Services (AWS) to provide U.S. intelligence and defense agencies access to the Claude 3 and 3.5 family of models on AWS. This partnership allows for an integrated suite of technology to operationalize the use of Claude within Palantir’s AI Platform (AIP) while leveraging the security, agility, flexibility, and sustainability benefits provided by AWS.

The partnership facilitates the responsible application of AI, enabling the use of Claude within Palantir’s products to support government operations such as processing vast amounts of complex data rapidly, elevating data driven insights, identifying patterns and trends more effectively, streamlining document review and preparation, and helping U.S. officials to make more informed decisions in time-sensitive situations while preserving their decision-making authorities. Claude became accessible within Palantir AIP on AWS earlier this month.

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