April 10, 2024 –Investorideas.com, a global news source and expert investing resource covering AI stocks
issues a news snapshot looking at how AI plays a key role in the future of
healthcare, featuring Avant Technologies, Inc. (OTCQB: AVAI), an artificial intelligence (AI) technology
company specializing in creating and developing innovative and advanced AI
infrastructure solutions.
Read this article featuring AVAI in full at https://www.investorideas.com/news/2024/technology/04101AI-Stocks.asp
What is the opportunity for stocks in the sector? The
AI in Healthcare market is projected to
grow from USD 20.9 billion in 2024 and reach USD 148.4 billion by 2029. Prophecy Market Research says it could reach
US$ 508.7 billion by 2034.
From data to diagnostics and imaging, drug
development and discovery, early intervention and predictive analytics, remote
patient monitoring and robotics, AI is revolutionizing healthcare as we know
it.
Betting on healthcare as a key market, Avant Technologies,
Inc. (OTCQB: AVAI) just announced the
completion of its acquisition of privately-held healthcare technology and data
integration services firm, Wired-4-Health.
From
the news: Unified by a shared objective to propel the healthcare data
interoperability landscape forward, this strategic merger leverages
cutting-edge AI and amplified computational capabilities. This potent
combination empowers healthcare and life sciences organizations to navigate the
complexities of system interoperability with unprecedented efficiency, enhanced
performance, improved data integrity, and a more cost-effective, scalable
infrastructure. Customers will be able to experience these benefits across a
range of critical business functions, including transaction processing, health
outcomes analytics, and compliance adherence.
“Completion of this important strategic acquisition enables
us to deliver best-in-class data and system interoperability services to the
healthcare and life sciences sectors powered by AvantAI® and our high-density
compute capabilities,” said Tim Lantz, Chief Executive Officer of Avant
Technologies. “This exciting acquisition significantly strengthens our
financial profile, offers massive commercial growth opportunities in one of
Avant’s largest target markets, and bolsters our internal customer support and
R&D capabilities.”
The healthcare sector is facing a number of escalating
challenges. Providers are under pressure to improve patient outcomes while
reducing costs at a time when chronic illness and clinician burnout are on the
rise. Despite the transformative potential of digitalization in healthcare, a
significant barrier remains. The lack of adherence to standardized data
protocols makes the extensive volume of information produced by the digital
revolution complex and costly to leverage. As a result, the full potential of
data-driven solutions to address the industry’s most urgent challenges has yet
to be realized.
“In the near term, if the healthcare industry expects to
succeed in lowering costs while improving quality, the deployment of advanced
AI, combined with more powerful, cost- effective compute capabilities will be
critical to that success,” said Angela Harris, Avant’s Chief Operating Officer.
“The addition of Wired-4-Health will position Avant as a key contributor in
helping healthcare organizations solve complex problems at the intersection of
cost, quality, compliance and technology.”
NVIDIA (NASDAQ: NVDA) recently launched more
than two dozen new microservices that allow healthcare enterprises worldwide to
take advantage of the latest advances in generative AI from anywhere and on any
cloud.
From
the news: The new suite of NVIDIA healthcare microservices includes
optimized NVIDIA NIM™ AI models and workflows with industry-standard APIs, or
application programming interfaces, to serve as building blocks for creating
and deploying cloud-native applications. They offer advanced imaging, natural
language and speech recognition, and digital biology generation, prediction and
simulation.
Additionally, NVIDIA accelerated software development kits
and tools, including Parabricks®, MONAI, NeMo™, Riva and Metropolis, can now be
accessed as NVIDIA CUDA-X™ microservices to accelerate healthcare workflows for
drug discovery, medical imaging and genomics analysis.
From
the news: The microservices, 25 of which launched today, can
accelerate transformation for healthcare companies as generative AI introduces
numerous opportunities for pharmaceutical companies, doctors and hospitals.
These include screening for trillions of drug compounds to advance medicine,
gathering better patient data to aid early disease detection and implementing
smarter digital assistants.
“For the first time in history, we can represent the world
of biology and chemistry in a computer, making computer-aided drug discovery
possible,” said Kimberly Powell, Vice President of Healthcare at NVIDIA. “By
helping healthcare companies easily build and manage AI solutions, we’re
enabling them to harness the full power and potential of generative AI.”
Dell Technologies (NYSE: DELL) and
Northwestern Medicine are using AI to
innovate and strengthen patient care to deliver significant advancements in
medicine, including the development and evaluation of a generative multimodal
large language model (LLM) for the interpretation of chest x-rays.
From
the news: Northwestern Medicine embarked on a mission to use AI to
enhance patient care while reducing physician burnout. Costs and limited
technology capabilities slowed the healthcare provider's ability to quickly
make meaningful advancements. Working with Dell's AI Innovation Lab,
Northwestern Medicine designed and tested workflow solutions prior to deploying
them into their own IT environment where they achieved a significant milestone:
a multimodal LLM that produced draft x-ray reports, aiding physician
decision-making.
"Technology such as AI has the power to speed
innovation that advances human progress. Healthcare is a prime example of where
technology can make an impact and help save lives," said Jeff Boudreau, Chief
AI Officer at Dell Technologies. "By combining Dell's technology with
Northwestern Medicine's expertise, we're setting a new standard for AI-driven
healthcare solutions."
From
the news: "In healthcare, there is little to no margin for error
and a tremendous amount of good that can be done. When we think about what AI
can do, we don't just see the technology itself, we see the many patients and
lives it will positively impact," said Dr. Etemadi. "Our work with
Dell signifies a major step forward for the industry in directly creating and
applying transformative technology solutions that directly impact patient care
and improve outcomes."
Ontrak Health (NASDAQ: OTRK), a
leading AI-powered and tech-enabled behavioral healthcare company, recently announced the
launch of its Ontrak Advanced Engagement System. This system integrates
Augmented Intelligence (AI) with an evidence-based clinical framework to
deliver human-centered, personalized member engagement.
From
the news: Built on a foundation of real-world AI application, the
Ontrak Advanced Engagement System enables member engagement at greater scale
and with greater efficiency than ever before. The platform’s introduction marks
a significant step forward in Ontrak’s commitment to technology-driven health
solutions and builds on more than a decade of research and development.
From
the news: Among other cutting-edge innovations, the Ontrak Advanced
Engagement system employs a Risk-based analytics engine, which uses AI
algorithms to identify members and prioritize outreach based on factors like
risk, readiness, acuity, claims, prescriptions, and enrollment history. Our
Risk-based analytics engine can find members with, for example, high-predicted
probability of substance use disorder or depression, but no associated
diagnosis in existing health records. This technology helps drive Ontrak’s
impressive member outreach success of 54% across all lines of business, which
Ontrak believes is more than double the industry standard.
As AI technology continues to advance, the
healthcare sector will grow exponentially. For investors following AI stocks, the hunt is on for finding
the stocks that can harness the power of AI for the next generation of
healthcare.
Research more AI stocks with Investorideas.com free
stock directory
https://www.investorideas.com/TSS/Stock_List.asp#Robotics
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