Deep Learning in Healthcare

Deep learning and image recognition are at the forefront of discussion in the AI industry. We here at Neuromation like to back up all that we do with hard facts. Here we’ll tell you why synthetic data is so important for the pharma industry.
McKinsey estimates that big data and machine learning in pharma and medicine could generate value of up to $100 billion USD annually. This of course is based on better decision making, optimized innovation, improved efficiency of research/clinical trials, and new tool creation for physicians, consumers, insurers, and regulators.
Pharma is one of the key industries that has a pressing need for images, with Neuromation stepping in to address this demand. So far, we have created more than 50 million images and are continuing to increase that figure as it’s needed.
Last year, Frost & Sullivan released a study projecting the market for AI in healthcare to reach at least $6.6 billion USD by 2021, up from $634 million in 2014, at a surprising 40 per cent growth rate.
The report also notes that AI clinical support, such as diagnosis and hospital workflows would reduce treatment costs by as much as 50 per cent, while improving outcomes by at least 30–40 per cent.
One of our labs is a pharma and biotech lab, that would use image recognition and deep learning for better health care. For instance, we will be jointly developing a smart camera for infants, that will send alerts when a baby does things like switches positions, changes breathing patterns and wakes up. For this, we have partnered with MonBaby, the leading in tracking technology for youngsters, with the vision of creating a smart camera to add to their existing award-winning offering. The MonBaby device snaps onto any article of child’s clothing with vital information regarding the child displayed in an easy-to- understand manner. The information and measurements are done in real-time, five times per second and are then transmitted to a smartphone app.
This will go a long way in giving parents and caretakers valuable analytics about the child. Neuromation will also be receiving a revenue share from each device sold.
It’s a very exciting time for Neuromation, with several labs set to open in early 2018. These industry partnerships will give Neuromation huge additional revenue opportunities. Our overall expectation is that we will be making around 30 per cent of our total revenue through Neuromation Labs partnerships.
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