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OSF Ventures Joins $35M Funding Round for Handheld Ultrasound Device

Vlad Poptamas

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OSF Ventures has joined a $35 million funding round to support a start-up that’s developing a breakthrough handheld, AI ultrasound device that will allow health care providers to make critical, real-time diagnostic decisions.

OSF Ventures, the investment arm of OSF HealthCare, is among investors in the latest Series B funding round to help Redwood, California-based Exo Imaging achieve FDA approval and commercially develop its handheld ultrasound platform. The device can be used for the entire body—from looking at 3D images of the heart and other organs to imaging a person’s vascular system or musculoskeletal features.

One of the major investors in Exo Imaging is Intel which has microchip technology that could be used in development of the ultrasound platform capable of penetration depth and exceptional fidelity, 3D imaging that still fits in the palm of your hand. “Image quality is so important and Intel’s involvement was a significant indicator to us that this is going to be successful technology,” according to Stan Lynall, vice president of Venture Investments for OSF HealthCare.

Exo’s universal imager is being designed specifically with convenient patient care and cost savings in mind, which is why it was appealing to OSF Ventures which has a strategic investment focus on those two areas. It offers sharper images but at a much more affordable price than current imaging technology. Lynall stresses this advancement could transform the way OSF clinicians offer care by improving their ability to diagnose and provide the most effective treatment for a variety of OSF patients.

In the course of vetting Exo Imaging, the Ventures team consulted with physicians at the University of Illinois College of Medicine in Peoria (UICOMP) who indicated ultrasound is being deployed in many cases as a less-costly and non-invasive but effective imaging tool. “There is an emerging trend of ultrasound being more widely accepted among a variety of disciplines and more medical students are being taught to read and interpret results as a consequence of this changing view,” said Lynall.

“Having OSF HealthCare on board as an investor is invaluable in providing our engineers with an opportunity for testing and feedback of our Exo Ultrasound Platform,” said Sandeep Akkaraju, CEO and president at Exo. “With clinicians available to them in the final development and testing phases, our engineers will be able to make adjustments quickly and course correct as needed, to ensure the Exo Ultrasound Platform provides maximum benefit to healthcare providers bedside, in the Emergency Department, or an office setting.”

Exo plans to add a layer of artificial intelligence that’ll offer support for users to make quicker, more accurate life-saving decisions on behalf of patients.                                  

OSF Ventures specializes in venture optimization, partnering financially and operationally in companies that improve patient outcomes and reduce costs to health care systems. OSF Ventures is a division of OSF HealthCare. More at www.osfventures.org.

OSF HealthCare, headquartered in Peoria, is owned and operated by The Sisters of the Third Order of St. Francis, and consists of nearly 21,000 employees in 126 locations, including 13 hospitals, 11 Centers for Health and 15 OSF PromptCares and 11 OSF Urgo urgent care centers throughout Illinois and Michigan.

OSF Innovation, ranked among the top 10 innovation centers in the country, is located in Jump Trading Simulation & Education Center. Launched in 2016, OSF Innovation is a multidisciplinary innovation center focused on internal and external innovation to solve the largest health care challenges. More at www.osfinnovation.org and www.osfhealthcare.org

Exo Imaging Exo is pioneering a high-performance handheld ultrasound platform and AI for imaging and therapeutic applications. Exo is committed to delivering affordable and easy-to-use medical imaging to healthcare professionals around the world. By delivering easy-to-use, high quality medical imaging, Exo will empower healthcare professionals to make critical, real-time decisions that improve patient outcomes. For more information, please visit www.exo-imaging.com.

 

SOURCE OSF HealthCare

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Artificial Intelligence

The Use of Artificial Intelligence by Startups and SMEs panel discussion moderated by Dr. Robert Skalina (WH Partners) at TCE2019 Prague

Zoltán Tűndik

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Leading law expert and tech compliance advisor to moderate the AI-related panel discussion at PICANTE TECH Conference Europe 2019.

 

The future is almost here and there are more and more talks about AI being a key part of our daily life. But, it seems we are not quite there yet as most of the services that are available are not the real independent AI which is feared by many doomsday preachers.

At PICANTE TECH Conference Europe (TCE2019), which will take place in Prague on the 3rd of September at Vienna House Andel’s Prague, we have put together an artificial intelligence-related panel discussion which will highlight some of the most recent topics that are discussed in the sphere and can benefit many in the upcoming period.

The panel discussion will be joined by Andjela Todorovic (Software Engineering Intern at Cubic Corporation), Jiří Třečák (CEO at Supernova), Aleksander Kijek (Chief Product Officer at Nethone) and last but not least, Vojtech Chloupek (Partner at Bird & Bird).

The futuristic thinking panel discussion will be moderated by Dr. Robert Skalina, Senior Advisor at WH Partners.

REGISTER HERE to secure your seat!

About Dr. Robert Skalina

Robert Skalina is a Czech Advocate as well as a Registered European Lawyer in Malta. He is based in Prague and works in Malta regularly.

He is financial services and corporate lawyer and provides advice to a wide range of investment managers, advisors and funds, including private equity and hedge funds. Robert also regularly advises clients in the gaming/gambling industries and has vast experience in the area of mergers and acquisitions and complex cross border transactions.

Robert has previously held the position of head of legal of a London based investment advisor active throughout the EMEA region. Prior to that, he served as legal counsel for the largest retail bank in the Czech Republic.

Robert graduated with an LLM cum laude from the London School of Economics. He holds a Master of Laws degree from the Charles University in Prague. He provides advice in English, Czech and Slovak.

PICANTE Tech Conference Europe is designed to bring both people and knowledge together and provides the excellent ecosystem of networking and learning opportunities without interruptions with emphasis on comfort and communication. After learning from genuine world-class experts and wayseers, meeting achievers shaping the B2B ecosystem, all attendees will get the chance to grab a drink and relax while networking at the evening social gathering.

REGISTER HERE or BROWSE THE AGENDA/PROGRAM!

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Artificial Intelligence

Artificial Solutions Wipes the Board with Four Podium Positions in Stevie 2019 International Business Awards Including Most Innovative Tech Company of the Year

Vlad Poptamas

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Artificial Solutions® (www.artificial-solutions.com), the leading specialist in enterprise-strength Conversational AI, announced today it has won awards in four Stevie® 2019 International Business Awards that were announced earlier today. The company was a Silver Stevie Winner in the prestigious Most Innovative Tech Company of the Year, Software Development Solution of the Year, and Artificial Intelligence/Machine Learning Solution of the Year. It was also a Bronze Stevie Winner in the IoT Analytics Solution category of the Awards.

The Stevie Awards are the world’s premier business awards. They were created in 2002 to honor and generate public recognition of the achievements and positive contributions of organizations and working professionals worldwide. In short order the Stevie has become one of the world’s most coveted prizes. The International Business Awards® (IBA) are open to all organizations worldwide: large and small, public and private, for-profit and non profit and attracted over 4000 entries.

“Recognition in any award is an honor. To win four International Stevies in four key tech-categories, including the highly contested Most Innovative Tech Company of the Year is amazing and a massive endorsement of the whole team at Artificial Solutions who have worked so hard to make Teneo an industry-leading solution,” comments Andy Peart, CMSO of Artificial Solutions.

Stevie Award winners were determined by the average scores of more than 250 executives worldwide who participated in the judging process from May through early August.

Most Innovative Tech Company of the Year recognizes overall achievement in product innovation. Artificial Solutions entry included the wide range of advanced enhancements made to Teneo in the last 12 months that has raised the bar for other conversational AI platforms. Judges commented that Teneo’s hybrid approach and broad support linguistic and lexical factors is truly impressive and that the company really streamlines the digital transformation journey using the sophisticated AI platform.

Teneo Developers, launched earlier this year, was honored for the best tool or resources for designing, creating or testing software applications. Judges for the Software Development Solution category commented that Visual UI platform to solve the problem of conversational UI is interesting. The problem being solved here could have very high returns.

Teneo’s revolutionary hybrid approach was awarded in the Artificial Intelligence/ Machine Learning category that recognizes solutions that enable computer-based systems to exhibit intelligent behavior in complex situations to solve problems, communicate with people, and perceive and interact with the physical world. Judges commented: Very impressed with how they combined classical ML with advanced NLP. Their use cases are great, and they managed to solve real and practical problems for companies.

The IoT Analytics Solution category recognized Teneo as one of the best applications for measuring and transforming Internet of Things (IoT) data into business intelligence. Judges commented that it showed Innovative use of cutting-edge technology and was a feature rich analytics solution while adhering data privacy laws.

The International Business Awards are the world’s premier business awards program. All individuals and organizations worldwide – public and private, for-profit and non-profit, large and small – are eligible to submit nominations. The 2019 IBAs received entries from organizations in 74 nations and territories.

Nicknamed the Stevies for the Greek word for “crowned,” the awards will be presented to winners at a gala awards banquet at the ANDAZ Hotel am Belvedere, Vienna, Austria on 19 October.

 

SOURCE Artificial Solutions International AB

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Artificial Intelligence

Aquaculture technology provider UMITRON launches Fish Appetite Index (FAI), the world’s first real-time ocean-based fish appetite detection system.

Vlad Poptamas

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UMITRON PTE. LTD. (Singapore, Co-founder/ Managing Director Masahiko Yamada) launches Fish Appetite Index (FAI), the world’s first real-time ocean-based fish appetite detection system. UMITRON FAI uses efficient machine learning and image analysis techniques to extract relevant data from video streams that can then be used to accurately quantify fish appetite. FAI software has already been rolled out to existing customers to optimize their feeding operations.

Over the past twenty years the aquaculture industry has been expanding at an exponential rate with annual production tripling during this brief time span. At the same time, however, aquaculture feed prices have also risen dramatically. This presents an ever-growing challenge for farmers since feed costs account for a majority of their operational overhead. Farmers must walk a tight line: underfeeding their fish risks lower growth rates and slower time to market, while overfeeding increases costs and potentially harms the environment. New data analytics technologies such as IoT devices and machine learning offer farmers a solution to improve their feeding operations.

The FAI algorithm takes in the same visual information that humans would and then scores fish appetite and presents it in an easy to understand chart. When used in tandem with a smart feeder such as UMITRON CELL, the feed time intervals and amounts can be automatically adjusted with minimal human interference. Farm operators can utilize FAI to fine-tune their feeding schedules, ensuring fish are always satiated. This is easily done via their smartphones with the UMITRON app, where they can check and remotely adjust feed settings based on the FAI feedback.

FAI benefits farmers by reducing wasted feed, improving profitability as well as environmental sustainability. FAI in combination with technology such as CELL allows farmers to stay onshore during dangerous weather conditions or holidays while still keeping a close eye on their fish stocks. Furthermore, it reduces the need for every employee to be an expert at feeding and instead frees workers to focus on other tasks that improve fish welfare.

Existing UMITRON customers have already begun using FAI alongside CELL. “Today, there are many companies developing machine-learning algorithms for a variety of industries but only testing them under ideal conditions. The UMITRON Fish Appetite Index on the other hand is already being embraced by our existing customers at their ocean-based farm sites where it operates under real world conditions. It might be difficult for some of our potential customers to completely trust artificial intelligence at first, but FAI is an important tool that can be used to increase productivity and reduce waste,” said Masahiko Yamada, managing director of UMITRON.  “Our appetite analysis approach is being developed with customer feedback in mind. UMITRON will continue to develop similar value-added software services that can be automatically rolled out to our existing customer base. Also, we are open to developing other practical applications after discussions with potential customers or equipment partners,”  added Takuma Okamoto, CTO of UMITRON.

UMITRON is looking for partners interested in using FAI for species such as Atlantic salmon, rainbow trout, European sea bass, and gilthead sea bream. Similarly, UMITRON is looking for feeding system manufacturing partners who wish to utilize data analysis software such as FAI to improve their current products.

UMITRON will participate in AquaNor, which will be held in Trondheim, Norway from August 20-23, and The Japan International Seafood & Technology Expo from August 21-23 in Tokyo, Japan. Interested parties should contact UMITRON in advance to set up an informational meeting.

 

SOURCE Umitron

 

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