#AIEye
Episode 417: Nuance (NasdaqGS: $NUAN) Announces Strategic Collaboration with
MITRE and Cancer Genetics (NasdaqCM: $CGIX) Enters Definitive Merger with
StemoniX
Global
AI in Diagnostics Market to Reach $1.3 Billion by 2026
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discussed: (NasdaqGS:NUAN) (NasdaqCM:CGIX)
Nuance Communications, Inc. (NasdaqGS:NUAN) has announced a strategic collaboration with
not-for-profit R&D organization MITRE to “advance the mCODE™ (minimal
Common Oncology Data Elements) data standard for improved cancer research and
treatment using the AI-powered Nuance® Dragon Medical One solution.” Diana
Nole, Nuance Communications, executive vice president and general manager of
healthcare, explained:
“Collecting
clinical data specific to oncology treatment has traditionally been a difficult
task to overcome. Combining Nuance's AI expertise with the mCODE data standard
provides oncologists with the ability to easily collect and gain access to
critical outcome data by simply using their voice to securely dictate notes and
search within the EHR using Nuance Dragon Medical One. This will garner significant
advancements in data collection, which will, in turn, dramatically improve
patient treatment and care."
Cancer Genetics, Inc. (NasdaqCM:CGIX) announced the entry into a definitive merger
agreement with StemoniX, Inc., the latter of which is described as “a leader in
developing high-throughput disease-specific human organoid platforms integrated
with leading-edge data science technologies.” The terms of the merger agreement
indicate that StemoniX will retain its name and merge with a newly formed
subsidiary of Cancer Genetics. Jay Roberts, Cancer Genetics CEO, explained:
"The
process of discovering and developing a new drug candidate takes years and
comes with a price tag of hundreds of millions - or even billions - of dollars.
However, we are at unique time in the drug discovery industry as the
convergence of technological innovations in both biology and software will
transform conventional workflows in time and accuracy. To convert the
time-consuming and labor-intensive process of developing a drug for market, we
now look to supplement traditional discovery and drug approval mechanisms to
include humanized cell-based assays with artificial intelligence (AI) along
with our core vivoPharm business. Given that our strategy and approach are
strongly aligned with those of StemoniX, we are pleased to have moved forward
with this proposed transaction.”
Global
AI in Diagnostics Market to Reach $1.3 Billion by 2026
Research from ReportLinker finds that the global AI in
Diagnostics market will reach $1.3 billion by 2026 with a compound annual
growth rate (CAGR) of 27.4 percent in the forecast period 2020-2026. An outline
from the report’s summary reads:
Artificial
intelligence in healthcare is one of the most important scientific advancements
in medicine so far. The participation of several start-ups in the development
of AI-driven imaging and diagnostic solutions is a key factor contributing to
the growth of the sector.
Artificial
intelligence applications vary from image acquisition, processing to aided
reporting, follow-up, data storage, data mining, etc. The report provides a
balance between threats to AI and opportunities for radiologists in the modern
medical world. The use of machine learning combines computational models and
algorithms that replicate the brain’s biological neural network architecture,
i.e., artificial neural networks (ANNs). Output wise, Deep learning has a
higher rate of success relative to conventional machine learning.
Sam Mowers, Investorideas.com
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