Global A.I. Healthcare Market Expected
To Expand At CAGR Of 36.4% From 2024 To 2030; (OTCQB: $AVAI) (NASDAQ: $NVDA) (NASDAQ:
$SOUN) (NASDAQ: $CXAI) (NASDAQ: $MRVL) @FNMgroup @AvantTechAI
Palm
Beach, FL – April 9, 2024 – FN Media Group News Commentary – Experts
universally see that the AI in the healthcare market will continue to reach new
highs throughout this decade. A report from Grand View Research said that the
global AI in healthcare market size was estimated at USD 22.45 billion in 2023
and is expected to expand at a compound annual growth rate (CAGR) of 36.4% from
2024 to 2030. The report said: “Growing
datasets of patient health-related digital information, increasing demand for
personalized medicine, and rising need to reduce care expenses are some major
drivers of market growth. The rising global geriatric population, changing
lifestyles, and increasing prevalence of chronic diseases have contributed to a
growth in demand for diagnosing and improved understanding of diseases in their
initial stages. Artificial Intelligence (AI) and machine learning (ML)
algorithms are being widely adopted and integrated into healthcare systems to
accurately predict diseases in their early stage based on historical health
datasets.
Read this in full at https://www.financialnewsmedia.com/global-a-i-healthcare-market-expected-to-expand-at-cagr-of-36-4-from-2024-to-2030/
Furthermore,
deep learning technologies, predictive analytics, content analytics, and
natural language processing (NLP) tools are enabling care professionals to
diagnose patient’s underlying health conditions at an earlier stage. The
COVID-19 pandemic positively influenced the demand for AI technologies and
unearthed the potential of these advanced technologies. Healthcare systems
widely adopted these technologies in the rapid diagnosis and detection of
different virus strains and utilized personalized information in improving the
management of the outbreak. AI/ML algorithms were utilized in the diagnosis
sector wherein these technologically driven modules were trained with datasets
of chest CT images, symptoms, pathological findings, and exposure history to
diagnose COVID-19-positive patients rapidly and accurately.” Active tech companies in the markets this
week include: Avant Technologies, Inc. (OTCQB: AVAI), NVIDIA Corporation (NASDAQ:
NVDA), SoundHound AI, Inc. (NASDAQ: SOUN), CXApp Inc. (NASDAQ: CXAI), Marvell
Technology, Inc. (NASDAQ: MRVL).
Grand
View Research continued: “The growing shortage of healthcare workforce drove
the adoption of AI/ML technologies. Therefore, AI algorithms can be trained to
analyze patient health information, which further supports care providers in
quickly diagnosing the condition and devising an accurate treatment regime.
Supportive government initiatives, rising number of mergers and acquisitions
and technological collaborations, and COVID-19 pandemic had a significant role
in boosting the growth of the market and accelerating the adoption rate of AI
in healthcare. AI/ML algorithms are being widely implemented in rapid and
accurate diagnosis of medical conditions after the initial implementation in
the detection of COVID-19 positive patients using personalized patient
information and data consolidation.
North America dominated the market in 2023 and held the largest revenue
share of 57.7%, owing to advancements in healthcare IT infrastructure, growing
care expenditures, widespread adoption of AI/ML technologies, favorable
government initiatives, lucrative funding options, and presence of several key
market players.”
Avant
Technologies, Inc. (OTCQB: AVAI) Acquires Wired-4-Health, Advancing AI
Interoperability in Healthcare Data – Avant Technologies, Inc. (“Avant” or the
“Company”), an artificial intelligence technology (AI) company specializing in
developing innovative and advanced AI and AI infrastructure solutions, today
announces the completion of its acquisition of privately held healthcare
technology and data integration services firm, Wired-4-Health.
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 data and system
interoperability with unprecedented efficiency. By streamlining transaction
processing, health outcomes analytics, and compliance adherence, this union
fosters enhanced performance, improved data integrity, and a more
cost-effective, scalable infrastructure for customers.
“Our
strategy behind this acquisition was to enable Avant to deliver best-in-class
data and system interoperability support 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.
“At the same time, this exciting combination 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 currently grapples with a confluence of intensifying
pressures. Providers face an unrelenting demand to elevate patient outcomes
while simultaneously reducing costs. This exigency coincides with an
unprecedented prevalence of chronic illness and clinician burnout. Despite the
transformative potential of digitalization within healthcare, a crucial
impediment persists. The lack of standardized data protocols renders the vast
troves of information generated by this digital revolution immensely intricate
and expensive to utilize. Consequently, the potential for data-driven solutions
to the industry’s most pressing challenges remains unrealized.
“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.” Continued…
Read these full press releases and more news for Avant Technologies at: https://www.financialnewsmedia.com/news-avai/
Other
recent developments in the markets of note include:
NVIDIA
Corporation (NASDAQ: NVDA) recently announced that leading AI application
developers across a wide range of industries are using NVIDIA digital human
technologies to create lifelike avatars for commercial applications and dynamic
game characters. The results are on display at GTC, the global AI conference
held this week in San Jose, Calif., and can be seen in technology
demonstrations from Hippocratic AI, Inworld AI, UneeQ and more.
NVIDIA
Avatar Cloud Engine (ACE) for speech and animation, NVIDIA NeMo™ for language,
and NVIDIA RTX™ for ray-traced rendering are the building blocks that enable
developers to create digital humans capable of AI-powered natural language
interactions, making conversations more realistic and engaging.
“NVIDIA
offers developers a world-class set of AI-powered technologies for digital
human creation,” said John Spitzer, vice president of developer and performance
technologies at NVIDIA. “These technologies may power the complex animations
and conversational speech required to make digital interactions feel real.”
SoundHound
AI, Inc. (NASDAQ: SOUN), a global leader in voice artificial intelligence,
recently announced that its voice assistant with integrated ChatGPT will be the
first to go into vehicles in Japan. SoundHound Chat AI Automotive became the
world’s first in-vehicle voice assistant with integrated generative AI when it
hit the market in April 2023. It will be available in Stellantis DS Automobiles
in Japan starting this month.
At
the beginning of March 2024, DS Automobiles became the first automaker in the
world to go into full production with SoundHound Chat AI, with an initial
rollout in 13 languages across 18 countries. The most sophisticated voice AI
assistant available today, it can respond to a vast range of questions from
hundreds of real-time domains, as well as large language models, like ChatGPT.
This
assistant – which DS Automobiles has named Iris – will allow drivers and
passengers to use hands-free voice control to unlock a vast range of information
and updates. Whether that’s for planning a trip, opening the sunroof, asking
for the sports scores, making a call, or accessing parking information from
their destination.
CXApp
Inc. (NASDAQ: CXAI) recently announced the signing of strategic partnership and
development agreements with Google Cloud as part of the launch of the CXAI
Platform. Khurram Sheikh, Chairman and
Chief Executive Officer of CXApp said, “The CXAI SaaS platform is anchored on
the intersection of customer experience (CX) and artificial intelligence (AI)
providing digital transformation for the workplace for enhanced experiences
across people, places and things.
“Our
strategic partnership and development agreements with Google Cloud signify a
pivotal moment in our journey. By leveraging our AI-native platform, powered by
cutting-edge technology and data insights, we’re poised to be the technology
leader enabling transformative workplace experiences”, stated Naresh Soni, CTO
of CXApp Inc.
Marvell
Technology, Inc. (NASDAQ: MRVL) recently outlined its broad-ranging strategy to
optimize optical technology to meet the rising performance and power
requirements of AI and cloud data centers at OFC 2024, taking place in San
Diego, California.
Marvell
CEO and Chairman, Matt Murphy, and EVP and GM of Cloud Optics, Dr. Loi Nguyen,
among others, discussed the driving forces behind the growth of optical as well
as Marvell’s ideas for enhancing optical PAM4 DSPs, coherent DSPs, silicon
photonics, and other optical technologies for data centers to serve an
expanding range of architectures, applications, use cases, performance
characteristics, and customer profiles.
“Over
the last two decades, optical data rates have increased 1000x while energy per
bit has declined 100x3, and in the process transformed data infrastructure and
enabled the rise of services like streaming media, cloud computing, smartphones
and AI,” said Dr. Radha Nagarajan, senior vice president and chief technology
officer, Optical Platforms at Marvell and the 2024 recipient of the David
Richardson Medal for significant contributions to optical engineering. “The
industry is now entering a new chapter and Marvell is looking forward to
collaborating with its partners in extending the horizons of this far-reaching
technology.”
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