Artificial intelligence is making deeper inroads into western healthcare, targeting the slow grind of authorizations and paperwork that bog down patient care. Despite Bill Gates' prophecy about AI replacing doctors the real push today is about supercharging physicians not sidelining them. Recent moves by players such as like Avant Technologies, Inc. (OTCQB: AVAI), Amesite Inc. (NASDAQ: AMST), Oracle Corporation (NYSE: ORCL), Clover Health Investments, Corp. (NASDAQ: CLOV), and Alphabet Inc. (NASDAQ: GOOG, GOOGL) are signaling just how fast this transformation is taking hold.
The article continued: Meanwhile, Barclays projects the healthcare AI market will surge at a 30% compound annual growth rate through 2030 , fueled by a wave of new investment across hospitals, insurers, and pharma. A Deloitte survey echoes the optimism, with 71% of healthcare leaders expecting better profits this year as AI tools scale across systems.
Avant Technologies and Ainnova Request Pre-Submission Meeting with US FDA for VisionAI Platform Technology
Avant Technologies, Inc. (OTCQB: AVAI) , an emerging leader in AI-driven healthcare innovation, and its JV partner, Ainnova Tech, Inc., (Ainnova) , a leading healthcare technology company focused on revolutionizing early disease detection using artificial intelligence (AI), today announced that The Center for Devices and Radiological Health of the U.S. Food and Drug Administration (FDA) has received the company's submission package requesting a pre-submission meeting with the FDA for its VisionAI platform technology and is now under review.
Ainnova is requesting a pre-submission meeting with the FDA's review team to discuss any questions and/or concerns about its proposed formal submission, including seeking advice to finalize the protocol and obtain agency guidance for a clinical trial of its VisionAI platform in the early detection of diabetic retinopathy. A pre-submission meeting allows companies to clarify regulatory requirements, get feedback on their plans, and potentially avoid delays or issues during the formal review process.
The clinical studies will aim to support an FDA 510(k) submission to obtain clearance from the regulatory agency to market its technology in the U.S.
Ai-nova Acquisition Corp. (AAC) , the company formed by the partnership between Avant and Ainnova to advance and commercialize Ainnova's technology portfolio, including its VisionAI platform and its versatile retinal cameras, has worldwide licensing rights for this portfolio. The licensing rights include the U.S., where the FDA regulates drug and medical device development, so the success of Ainnova's interactions with the FDA are paramount to marketing the technology portfolio in the United States .
"This milestone reflects our two-tiered strategy, rapid deployment in low-regulation markets where VisionAI operates as a screening tool, and simultaneous progress toward FDA clearance for the U.S. market," said Vinicio Vargas , CEO at Ainnova and a member of AAC's Board of Directors. "Entering the U.S. will unlock significant commercial potential, and early engagement with regulators ensures we do so with speed, credibility, and a validated product."
For medical device applicants like Ainnova, the FDA's pre-submission program is useful to determine a clear regulatory pathway for the successful launch of the device, including the number of patients and the number of clinics that will be needed to generate the necessary clinical data for the FDA to make an informed decision on Ainnova's VisionAI platform.
For Avant , the pre-submission meeting will help define a precise budget for the strategic partnership's entire FDA process.
This follows Ainnova's recent strategic alignment with Apollo Hospitals in Southeast Asia , where the Vision AI platform has been cleared for commercial deployment in Brazil , and clinical pilots are being prepared across the Americas. Avant and Ainnova have identified Brazil and the United States as key strategic markets. Ainnova is currently addressing regulatory pathways in Brazil with the support of its MDSAP certification to meet ANVISA requirements, paving the way for rapid market entry.
Ainnova is being guided by global CRO Fortrea ahead of the important pre-submission meeting with the FDA . The goal is to seek 510(k) clearance for Vision AI in detecting diabetic retinopathy, a gateway to broader use across multiple chronic disease categories.
Between FDA progress, high-profile alliances, and a growing international presence, Avant Technologies continues to carve out a niche in the convergence of AI, diagnostics, and preventative care. Investors looking for small-cap exposure to the healthcare AI revolution may want to keep AVAI on the radar as these developments unfold.
CONTINUED… Read this and more news for Avant Technologies Inc. https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
Amesite Inc. (NASDAQ: AMST) recently extended HIPAA compliance for its NurseMagic™ platform to cover individual users as well as enterprise clients. Healthcare providers can now safely use NurseMagic™ to store patient data, helping to reduce documentation time while protecting sensitive information.
"Meeting HIPAA requirements for all of our users is a natural extension of what we've already provided to enterprise customers," said Kalie Wortinger , Senior Manager of Engineering at Amesite . "We operate in a highly regulated industry, where protecting sensitive data is essential. This expansion reinforces our commitment to trust, privacy, and long-term value—for individual users, organizations, and their patients."
The platform's flexibility allows users to integrate AI-generated notes into any existing electronic medical record system.
Oracle Corporation (NYSE: ORCL) recently revealed that North York General Hospital is the first hospital in Canada to migrate its electronic health record system to Oracle Cloud Infrastructure (OCI). The move has significantly decreased system latency, improved login and transaction times, and enhanced disaster recovery protections.
" North York General Hospital is on a mission to set new standards for people-centered care through integrated and coordinated patient services across the organization, and its recent migration to OCI provides the foundation required to achieve that goal," said Erin O'Halloran , vice president and Canada market leader, Oracle Health . "Leveraging OCI's regional footprint in Canada to store and process data has helped NYGH bolster its resilience, improve its scalability, and helped it implement strategic approaches to disaster recovery."
These upgrades are helping clinicians work more efficiently and spend more time with patients. By leveraging OCI, NYGH is positioning itself to advance innovation in healthcare through real-time data and AI technologies.
Clover Health Investments, Corp. (NASDAQ: CLOV) recently announced that its subsidiary, Counterpart Health , is partnering with Alphabet Inc. (NASDAQ: GOOG, GOOGL) through Google Cloud to enhance its Counterpart Assistant platform.
"Physicians are often under-resourced and lack access to cutting-edge technologies that can simplify care delivery," said David Tsay , MD, chief medical officer at Counterpart . "Our goal with Counterpart Assistant is to bring all the leading edge tools under one roof, layer them over a single source of normalized data, and give clinicians what they need to make informed decisions—without the burden of fragmented solutions."
By integrating Google Cloud's Vertex AI Search, the platform enables physicians to quickly access unified patient records and receive AI-generated clinical insights. The collaboration is designed to streamline clinical workflows, reduce administrative burdens, and support better outcomes in value-based care.
"Clinicians are spending nearly 28 hours a week on administrative tasks , and 82% are reporting burnout," said Aashima Gupta , global director of Healthcare Strategy & Solutions, Google Cloud . "Gen AI-powered search can help alleviate some of this burden, and Counterpart Health's integration of Vertex AI Search will empower physicians to access critical patient information quickly and efficiently, helping them refocus on what matters most: better patient care."
Source: https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
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