The
#AIEye: LG Electronics Unveils Four-Level #AI Development Framework at CES and
AI Metrics Partners with IQ-AI for Distribution
AI
in Life Sciences Market to Reach $3.445 Billion by 2025
Point Roberts WA, Vancouver BC – January 17, 2020 – Investorideas.com (www.investorideas.com), a global investor news source covering
Artificial Intelligence (AI) brings you today’s edition of The
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tracker and advancements in artificial intelligence.
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Today’s
Column- The
AI Eye- Watching stock news, deal tracker and advancements
in artificial intelligence
Stocks
discussed: (KSE:066570) (LSE:IQAI)
LG Electronics Inc. (KSE:066570) unveiled its new AI development framework at
the CES 2020 LG Press Conference. The framework is composed of four levels –
Efficiency, Personalization, Reasoning and Exploration – intended to “act as
anchor points for the field of AI going forward.” The first level, Efficiency,
features AI that “can carry out specific functions through automation that make
user interactions more efficient and effective,” while the fourth and final
level, Exploration, features AI that “is capable of original research, enough
to formulate and test intelligent hypotheses to discover conclusions.” Dr. I.P.
Park, President and Chief Technology Officer of LG Electronics, commented:
"From
Efficiency to Exploration, our vision for AI innovation is meaningful for both
the industry and its customers. It enables and encourages us to come up with
more daring, more innovative ideas for the future."
Early stage AI-powered radiology image analysis company
AI Metrics has partnered with IQ-AI Limited (LSE:IQAI) to distribute the former’s virtual
liver biopsy software through the latter’s subsidiary Imaging Biometrics. AI
Metrics CEO Andrew Smith, commented:
"We
are excited about partnering with Imaging Biometrics as we introduce LSN [liver
surface nodularity] technology to the worldwide market. Their development
efforts have been integral to bringing LSN from promising research to
commercial introduction, and the continuity of our relationship moving forward
will ensure that LSN can quickly gain widespread utilization."
AI
in Life Sciences Market to Reach $3.445 Billion by 2025
A report from Research and Markets finds that the AI in Life
Sciences market will grow from $1.092 billion in 2019 to $3.445 billion in 2025
with a compound annual growth rate (CAGR) of 21.1 percent in the forecast
period. An excerpt from the report description outlines the role of clinical
trials as a key market trend:
Clinical
trials are one of the most data-intensive tasks in the life sciences industry.
They generate vast sets of data every day monitoring several variables of a
patient under observation. Subjecting these data sets to intelligent AI
algorithms can help the researchers to screen meaningful correlation even
between loosely coupled data.
This
is encouraging many pharmaceutical companies and clinical research
organizations to invest in technologies, like artificial intelligence. In the
current market scenario, rapid adoption of AI is widely seen in the
pharmaceutical sector, who are responsible for almost 50% of the clinical
trials conducted globally every year.
Sam Mowers, Investorideas.com
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