The #AIEye: LG Electronics Unveils Four-Level #AI Development Framework at CES and AI Metrics Partners with IQ-AI for Distribution
AI in Life Sciences Market to Reach $3.445 Billion by 2025
Point Roberts WA, Vancouver BC – January 17, 2020 – Investorideas.com (www.investorideas.com), a global investor news source covering Artificial Intelligence (AI) brings you today’s edition of The AI Eye- watching stock news, deal tracker and advancements in artificial intelligence.
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Today’s Column- The AI Eye- Watching stock news, deal tracker and advancements in artificial intelligence
Stocks discussed: (KSE:066570) (LSE:IQAI)
LG Electronics Inc. (KSE:066570) unveiled its new AI development framework at the CES 2020 LG Press Conference. The framework is composed of four levels – Efficiency, Personalization, Reasoning and Exploration – intended to “act as anchor points for the field of AI going forward.” The first level, Efficiency, features AI that “can carry out specific functions through automation that make user interactions more efficient and effective,” while the fourth and final level, Exploration, features AI that “is capable of original research, enough to formulate and test intelligent hypotheses to discover conclusions.” Dr. I.P. Park, President and Chief Technology Officer of LG Electronics, commented:
"From Efficiency to Exploration, our vision for AI innovation is meaningful for both the industry and its customers. It enables and encourages us to come up with more daring, more innovative ideas for the future."
Early stage AI-powered radiology image analysis company AI Metrics has partnered with IQ-AI Limited (LSE:IQAI) to distribute the former’s virtual liver biopsy software through the latter’s subsidiary Imaging Biometrics. AI Metrics CEO Andrew Smith, commented:
"We are excited about partnering with Imaging Biometrics as we introduce LSN [liver surface nodularity] technology to the worldwide market. Their development efforts have been integral to bringing LSN from promising research to commercial introduction, and the continuity of our relationship moving forward will ensure that LSN can quickly gain widespread utilization."
AI in Life Sciences Market to Reach $3.445 Billion by 2025
A report from Research and Markets finds that the AI in Life Sciences market will grow from $1.092 billion in 2019 to $3.445 billion in 2025 with a compound annual growth rate (CAGR) of 21.1 percent in the forecast period. An excerpt from the report description outlines the role of clinical trials as a key market trend:
Clinical trials are one of the most data-intensive tasks in the life sciences industry. They generate vast sets of data every day monitoring several variables of a patient under observation. Subjecting these data sets to intelligent AI algorithms can help the researchers to screen meaningful correlation even between loosely coupled data.
This is encouraging many pharmaceutical companies and clinical research organizations to invest in technologies, like artificial intelligence. In the current market scenario, rapid adoption of AI is widely seen in the pharmaceutical sector, who are responsible for almost 50% of the clinical trials conducted globally every year.
Sam Mowers, Investorideas.com
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