Special Edition AI Eye Featuring (OTC PINK: GTCH) : Healthcare and Medical - Prominent Segment in Rapidly Growing and Broadening AI Market
Stocks discussed: (OTC PINK:GTCH) (NasdaqGS:MSFT) (NYSE:BKR) (NasdaqGS:NVDA) (NYSE:PFE) (NYSE:IBM) (NasdaqGS:NUAN)
Point Roberts, WA and Vancouver, BC - January 23, 2020 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com), a global investor news source covering Artificial Intelligence (AI) releases a special edition of The AI Eye, featuring GBT Technologies Inc., (OTC PINK:GTCH).
No longer relegated to the ranks of science fiction, AI is rapidly becoming ubiquitous as one the most dynamic new fields in technology. But just as it cannot be consigned to fiction, AI cannot be reducible to any particular tech category, as it demonstrates applicability in an increasing array of different industries. Its core technologies - such as machine learning, deep learning, natural language processing (NLP) and computer vision - have enabled AI to penetrate and become indispensable in everything from autonomous vehicles, virtual assistants, energy, voice and text translation, retail, healthcare and more. And this is all happening fast. A report from Grand View Research, for instance, projects a compound annual growth rate (CAGR) for the global AI market of 46.2 percent from 2019 to 2025.
AI development is not merely left to small private companies and startups, but is well represented by some of the biggest publicly traded firms on the planet. For example, Microsoft (NasdaqGS:MSFT), along with C3.ai and Baker Hughes (NYSE:BKR), formed an alliance late last year to "bring enterprise artificial intelligence (AI) solutions to the energy industry" using distinct solutions from all three companies running on the former's cloud computing service Azure. The adoption of AI by energy companies streamlines the industry's "inventory optimization and energy management to predictive maintenance and process and equipment reliability,'' according to the press release.
Elsewhere, Nvidia Corporation (NasdaqGS:NVDA) - known primarily for GPUs and SoCs - has recently improved its end-to-end platform for autonomous vehicle (AV) development by making available its DRIVE deep neural networks (DNNs) to the transportation industry. These DNNs facilitate "traffic-light and sign detection, object detection (for vehicles, pedestrians, bicycles) and path perception, as well as gaze detection and gesture recognition inside the vehicle," making autonomous driving a viable future for transportation.
A particular market that one can observe AI making considerable advances in, is that of healthcare and medicine. A press release for the aforementioned report outlines some of the promise that AI is showing in healthcare with the following excerpt:
AI has the potential to reduce the burden on clinicians and provide an efficient tool to workforces for accomplishing their tasks in a better way. For instance, AI voice-enabled symptom checkers can better access a situation and assist patients to the emergency department when immediate treatment is required. Artificial intelligence is expected to resolve around 20% of unmet healthcare demands.
As AI is relatively new and very dynamic, it is perhaps unsurprising that a wide variety of approaches and applications have found their way into the healthcare and medical markets. One approach is that of development-stage company GBT Technologies Inc. (OTC PINK:GTCH), a native IoT creator, developer of Internet of Things (IoT) and AI-enabled mobile technology platforms. Recently, the company announced the implementation of Recurrent Relational Reasoning (RRN) - "an artificial neural network component with a structure that can reason about relations among objects" - into its Avant! intelligent agent. Dr. Danny Rittman, GBT's Chief Technology Officer explained the effect of this development and how it can be leveraged in the medical field:
"Our goal is to implement a fundamental part of human intelligence called relational reasoning, which is planned to enable Avant! to acquire expertise on its own by understanding object's relations. Avant! will include an advanced artificial neural network (ANN) capable of pattern recognition and reasoning about those patterns which is very similar to the human brain. Rather than operating on pre-set rules, the system will learn image's patterns by tweaking the relations between objects, analyzing connections, and building hypotheses about how they relate to each other. This capability will be used for Avant! imaging system for upcoming implementation in the medical field. We are creating an interactive and intuitive intelligent system that performs complex computation over discrete entities and the relations between them. Our goal is to provide Avant! a broad range of advantages and capabilities when it comes to intelligent imaging, especially in the medical domain."
In an interview with Investorideas.com, Rittman indicated the applicability of the AI with this RRN integration:
"If you want to identify suspicious objects - let's say within an MRI scan or a CT scan image or an X-ray image - our RRN will actually scan the data, make sure it actually knows and understands relations between objects ... and then will be able to alert us."
"It is a process of evolution. It will only get better with time."
Elsewhere, multinational pharmaceutical giant Pfizer, Inc. (NYSE:PFE) recently entered into a research collaboration with Insilico Medicine, a company that leverages AI for drug discovery, biomarker development and aging research. Through the collaboration, Pfizer will leverage Insilico's machine learning technology and proprietary Pandomics Discovery Platform to identify "potential therapeutic targets implicated in a variety of diseases." Morten Sogaard, Vice President, Target Sciences, Pfizer commented on the collaboration and the potential yield of utilizing Insilico's technology:
"We look forward to working with Insilico as Pfizer continues to explore new technologies that may be able to help us identify targets and biomarkers that could assist in our discovery programs, and potentially lead to breakthrough therapeutics for patients with unmet medical needs."
The integration of AI into the drug discovery field of healthcare however has not been seamless. Pfizer had previously worked with IBM (NYSE:IBM), who early last year had to halt "development and sales of a product that uses its Watson artificial intelligence software to help pharmaceutical companies discover new drugs" as a result of poor financial performance, according to STAT. However, Watson has remained a vital force in wider AI in healthcare market, according to news from the end of last year. A piece from P&T Community reported that at the 105th RSNA Scientific Assembly and Annual Meeting on December 1, IBM Watson Health showcased new clients and relationships for its Imaging AI platform. Anne Le Grand, General Manager, Imaging, Life Sciences and Oncology, IBM Watson Health, explained:
"We are delighted to announce these collaborations at RSNA highlighting our advancements in medical imaging globally. From helping clinicians to identify potential missed findings to seeing a summary view of patient records quickly, our innovative technologies are at the forefront of Watson Health's mission to help enable clinicians to more effectively respond to the world's most pressing health challenges."
Another way AI has proved advantageous in health and medicine fields is in the use of medical assistants or advisors. A key example of this is the Dragon Medical Advisor from Nuance Communications, Inc. (NasdaqGS:NUAN). Nuance announced an expansion to the Dragon's clinical guidance capabilities last autumn, boasting that the platform "supports diagnoses with relevant clinical information; minimizes rework from retrospective queries; measures and advances care quality and financial performance; and supports the appropriate reimbursements for care." Michael Clark, Senior Vice President and General Manager, Provider Solutions, Nuance, explained:
"Dragon Medical Advisor leverages a comprehensive and continuously expanding knowledge base in real-time to capture comorbidities, major complications, and other relevant data in the patient record. The result is higher physician productivity and satisfaction, improved care quality, and outcomes with more appropriate reimbursement. Hospitals using this capability have reported multiple benefits, including significantly fewer retrospective queries from Clinical Documentation Specialists and Coders."
An article from TNW argues that AI adoption in the medical industry is actually saving doctors time, which can mean the difference between life and death for patients. This can be done through early diagnosis, enabled by tech such as the AI-powered mobile app Your.MD. According to the article,Your.MD:
...uses natural language processing and generation to provide a rich and fluid experience, and machine learning algorithms to create a complex map of the user's condition and provide a personalized experience.
Your.MD suggests steps and measures to remedy the illness, including warning users when they need to see a doctor.
Though AI adoption in healthcare and medical applications are vast and increasing, the technology is penetrating a wide array of other industries simultaneously. GBT Technologies alone, for instance, is targeting multiple applications for its Avant! AI, including autonomous machines and robots, as well as sports handicapping and more. So, with AI continuing to be one of the most vital and fertile technology fields in the so-called Fourth Industrial Revolution, one can expect to see more applications and use cases emerge as the technology develops and the already impressive benefits continue to accrue.
Sam Mowers, Investorideas.com
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