Biofourmis, a fast-growing global leader in digital therapeutics, has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its machine-learning and artificial intelligence (AI)-powered Biovitals Analytics Engine as a medical device for ambulatory physiological monitoring. This regulatory approval of the Biovitals Analytics Engine is part of FDA's growing recognition of machine-learning and AI in the Software as a Medical Device category. "This milestone approval is foundational to the Biovitals ecosystem, which includes not only our most advanced solution, BiovitalsHF for heart failure--but also our range of solutions across therapeutic areas, such as pain, oncology, sleep disorders and others in development," said Kuldeep Singh Rajput, CEO and founder of Biofourmis. "Receiving this important regulatory approval will only accelerate the development and commercialization of these innovative digital therapeutic solutions." This FDA approval is the second market authorization for Biofourmis, having earned the agency's approval in May 2019 for its Biovitals RhythmAnalytics platform, which is cloud-based software for automated interpretation of more than 15 types of cardiac arrhythmias.

The founder of an up and coming artificial intelligence (AI) company said targeting disease is a challenging if not herculean process, and it will take the science and skills of AI to conquer it. But it also takes a ton of money. That's why Insilico Medicine CEO Alex Zhavoronkov said his latest list of venture capitalists (VCs) are so crucial. They give an enormous amount of credibility to the new technology his company is developing . Finding the biological origin of a disease--the potential target for intervention--is the first step in discovering medicines to combat that disease.

An autonomous idea-creation system that already has invented patentable concepts has itself now been patented. The U.S. Patent and Trade Office has awarded a patent to Stephen L. Thaler, president and CEO of Imagination Engines Inc., for his Device for the Autonomous Bootstrapping of Unified Sentience (DABUS). Formally, the patent is titled "Electro‐Optical Device and Method for Identifying and Inducing Topological States Formed Among Interconnecting Neural Modules," which Thaler says constitutes a "successor to deep learning and the future of artificial general intelligence." With DABUS, "vast swarms of neural nets join to form chains that encode concepts gleaned from their environment," Thaler said in a press release. "It also teaches the noise‐stimulation of such neural chaining systems to generate derivative concepts from their accumulated experience (i.e., idea formation)."

Health IT company Cerner is leveraging its partnership with Amazon Web Services to launch a new cloud-based health platform to incorporate artificial intelligence to improve usability and provide predictive insights for patient care. The new platform, called Project Apollo, brings a more cognitive approach to practicing medicine, Cerner Chairman and CEO Brent Shafer said during his keynote address at Cerner Health Conference, according to a company press release. Shafer said the new platform will leverage Cerner's health care technology and the AWS infrastructure to accelerate the speed that innovations are integrated by removing manual steps for clients that slow the pace of adoption. Cerner also is creating an "intelligence ecosystem" to innovate next-generation user experiences and care delivery algorithms, the company said. We're looking to return the joy of delivering medicine, and we're focused on innovating for the future and delivering better usability today," Shafer said. The Kanas City-based company also announced new predictive modeling tools to help reduce opioid abuse, improved dashboards and analytics, and a new capability aimed at enhancing interoperability in the healthcare industry. In July, Cerner announced a collaboration with cloud giant AWS, which is part of Amazon, with the aim of accelerating healthcare innovation. As part of the agreement, Cerner named AWS its preferred cloud provider. During his keynote speech, Shafer said Cerner will focus on several key areas in its broader strategy to innovate with Amazon, including turning data into insights, increasing interoperability and usability, and rapid development and deployment, according to the Kansas City Business Journal. Matt Wood, vice president of artificial intelligence for AWS, also spoke at the conference on the partnership with Cerner and the possibilities that arise when companies can access "infrastructure as if it was a utility, according to the Kansas City Business Journal.

A mesothelioma prognostic model from medical machine learning firm Owkin has been showcased in the journal Nature, and is being used to help further drug research into the often fatal disease. The paper, entitled "Deep learning-based classification of mesothelioma improves prediction of patient outcomes" describes Owkin's technology called MesoNet, which has been trained using images from nearly 3,000 mesothelioma patients. Owkin used data from MESOBANK, a dataset containing images from several French institutions, and results were validated by experts in pathology at the renowned French Cancer Institute, Centre Leon Berard. As well as giving a prognosis, Owkin was able to use its deep learning technology to highlight regions of interest in the image associated with prognosis prediction. This has led to identification that helps explain different subtypes of the disease, the company said.

L'olivier - assurance auto, an auto insurer and French subsidiary of the English group Admiral, a European leader in automobile insurance, is joining InsurTech Shift Technology to fight against car insurance fraud. According to insurance magazine l'Argus de l'Assurance, in 2014 fraud represented 2.5 billion Euros in damages, only €219M of which have been recovered by insurers. Faced with such high figures, which are also on the increase, the aim of L'olivier is to rely on artificial intelligence and data science to automate and optimize the detection of suspicious claim files. For L'olivier, a direct insurer created in 2011, it was important to reinforce its plan to fight against fraud by establishing a dedicated unit: "Shift will help us in building out our capabilities. Their solution improves our ability to detect fraud by reducing the number of irrelevant cases, at the same time as it enhances our ability to prove fraud by providing administrators with avenues of investigation, enabling us to avoid payment of fraudulent claims," explains Janny Druon, head of the Claims Analytics team at L'olivier.

Umbo Computer Vision, an artificial intelligence company that specializes in autonomous video security, announced today that it's raised an $8 million post-A round, bringing funding to a total of $17.6 million to date. This round was co-led by Translink Capital and Susquehanna International Group. Shin-Kong Capital and Shin-Kong Security (TSEC:9925), one of Asia's largest security alarm companies, also joined as strategic investors, with continued participation by earlier investors. Umbo will use the investment to help accelerate its global sales expansion and improve its portfolio of AI-powered security products - Light, TruePlatform and Umbo AiCameras. Umbo Light is a fast learning A.I. that recognizes human behaviors critical to security such as intrusion, tailgating, occupancy and wall scaling.

GNW The global artificial intelligence (AI) in retail market attained $720.0 million in 2018 and is predicted to witness a CAGR of 35.4% during 2019–2024 (forecast period). The factors contributing to the growth of the market include the increasing investments in AI by retail companies and expanding e-retail industry. With AI, retailers have been able to automate their work processes, study consumer behavior, and capture relevant data through the adoption of numerous advanced technologies, such as machine learning, natural language processing (NLP), and computer vision. When technology is considered, the AI in retail market is divided into computer vision, NLP, machine learning, and others (which include gesture recognition and analytics). Machine learning generated the highest revenue during the historical period (2014–2018) and is expected to dominate the market during the forecast period as well.

San Jose, California, Oct. 08, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Sonasoft Corp. (OTCQB: SSFT), a leader in innovative artificial intelligence (AI) and data management solutions, today announced that it has completed the acquisition of OPtimAIze, Inc., an Artificial Intelligence software company that focuses on AI solutions for software product engineering teams. Sonasoft now has the solution to establish itself as a leading provider of AI for software product development. According to the analysts at Statista the enterprise software market alone had a global market size of over $457 billion in 2019. IDC also forecasted that worldwide spending on artificial intelligence (AI) will reach $776 billion by 2022. Sonasoft is well-positioned to gain significant market share in a large existing market that is poised to accelerate with an anticipated adoption of AI.

NEEDHAM, Mass., Oct. 8, 2019 /PRNewswire-PRWeb/ -- The Industrial Internet Consortium (IIC) today announced that its Smart Factory Machine …