- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Successful $1.0M Placement & Launch Of Share Purchase Plan
SensOre (ASX: S3N or the Company) aims to become the top performing global minerals targeting company through deployment of big data, artificial intelligence/machine learning technologies and geoscience expertise.
SensOre Limited is pleased to announce it has secured binding commitments for a $1.0m placement to new and existing investors (Placement). Alongside the Placement, a Share Purchase Plan will be offered to existing eligible shareholders raising up to A$1.0 million.
Bell Potter Securities Ltd acted as Lead Manager for the Placement.
The issue price of A$0.25 per share for both the Placement and the Share Purchase Plan represents a:
- 16.7% discount to the closing price of SensOre shares of A$0.30 on 8 May 2023 being the last trading day prior to release of this announcement; and a
- 27.4% discount to the 10-day VWAP prior to the release of this announcement.
Under the Placement, a total of 4,000,000 new fully paid ordinary shares will be issued. Approximately 2.1 million shares (raising approximately $0.52 million) will be issued under ASX listing Rule 7.1 and a further 1.2 million shares (raising approximately $0.48 million) will be issued to Directors of the Company, subject to shareholder approval which will be sought at a General Meeting (GM), intended to be held in late June 2023. The Placement included a one (1) for two (2) free attaching option exercisable at $0.375 and expiring three (3) years from the issue date. It is anticipated that shares and options will be allotted under Listing Rule 7.1, with the shares expected to be issued on or around 18 May 2023. Further details of the Placement issue are set out in the Appendix 3B lodged by the Company today.
Funds raised under the Placement will primarily be used to fund growth of the Company’s technology and exploration services businesses, as well as for general working capital purposes.
Share Purchase Plan
SensOre Limited is also pleased to announce a Share Purchase Plan (SPP) offered to existing eligible shareholders, being those shareholders that are residents in Australia or New Zealand that held SensOre shares as at 7:00pm (AEDT) on Wednesday, 10 May 2023. Eligible shareholders will be invited to participate in the SPP at the same issue price as the Placement (A$0.25 per share and options with One (1) option for every two (2) shares at an exercise price of A$0.375 and with an expiry of three (3) years from the issue date) also announced today.
The SPP will provide eligible shareholders the opportunity to increase their holding by up to A$30,000 without incurring any brokerage or transaction costs. The SPP is targeted to raise a maximum A$1.0 million and is not underwritten. If the full amount is raised 4,000,000 shares and 2,000,000 options will be issued.
SensOre may increase or decrease the size of the SPP and/or scale back applications under the SPP at its discretion. Any scale-back will be applied to the extent and in the manner, SensOre sees fit, which may include taking into account a number of factors such as the size of an applicant's shareholding at the record date for the SPP, the extent to which the applicant has sold or purchased shares since the record date, whether the applicant may have multiple registered holdings, the date on which the application was made, and the total applications received from eligible shareholders.
Further information regarding the SPP (including terms and conditions of the SPP) will be provided to eligible shareholders in the SPP offer booklet, which will be made available to eligible shareholders shortly. Eligible shareholders wishing to participate in the SPP will need to apply in accordance with the instructions in the SPP offer booklet. Participation in the SPP is optional.
At the time of allotment under both the Placement and SPP, New Shares issued under the offers will rank pari- passu with existing shares. The Share Purchase Plan Timetable is as follows:
The above timetable is indicative only and is subject to change. All dates and times are AEST. Subject to the requirements of the Corporations Act, the ASX Listing Rules and any other applicable laws, SensOre reserves the right to amend this timetable at any time, including extending the closing date of the Share Purchase Plan period or accepting late applications, either generally or in particular cases, without notice. Any extension of the closing date will have a consequential effect on the issue date of the New Shares. The commencement of quotation of New Shares is subject to confirmation from ASX. The information in this announcement does not constitute financial product advice and does not take into account the financial objectives, personal situation or circumstances of any shareholder. If you are in any doubt as to how to proceed, please contact your financial, tax or other professional adviser.
Click here for the full ASX Release
This article includes content from SensOre Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Hemlock Semiconductor Secures US$325 Million to Boost US Polysilicon Production
Hemlock Semiconductor (HSC) is set to enhance its operational capacity in Michigan, US, after the announcement of a preliminary agreement for a US$325 million grant from the Biden administration.
According to a Monday (October 21) press release, the funds will be allocated to HSC as part of the government's broader efforts to strengthen the US semiconductor supply chain under the CHIPS and Science Act .
The multimillion-dollar investment will support the building of a new manufacturing facility at HSC's existing site in Hemlock, Michigan, making it a critical player in the US semiconductor supply chain. The initiative is also poised to boost the state’s economy by creating close to 180 manufacturing jobs and 1,000 construction jobs over time.
The new facility will produce and purify hyper-pure polysilicon, which is key for semiconductor manufacturing.
“Polysilicon is the bedrock of semiconductors,” said US Secretary of Commerce Gina Raimondo.
Founded in 1961, HSC is currently the only US-based manufacturer of hyper-pure polysilicon.
The proposed investment marks the company’s first major expansion in over two decades, and is anticipated to significantly boost its production capabilities as demand for advanced semiconductor technologies increases.
“HSC is proud to be a manufacturing powerhouse for two vital industries of the future — semiconductor and solar,” said HSC Chairman and CEO AB Ghosh in the same announcement.
"Bolstered by the CHIPS Act, we are planning for a once-in-a-generation investment in advanced technologies to continue serving as a top polysilicon supplier to the leading-edge semiconductor market,” he added.
National Economic Advisor Lael Brainard also highlighted the significance of the HSC investment in reinforcing Michigan’s status as a leader in innovation and manufacturing. “Today’s announcement with HSC establishes a critical capability in the supply chain for semiconductors, solar, and AI here in America,” she commented.
The funding includes a commitment of US$5 million to support the development of the local workforce. HSC has established partnerships with educational institutions, including Delta College and the Saginaw Career Complex, to create training programs aimed at preparing workers for careers in semiconductor manufacturing.
HSC is dedicated to promoting sustainability as well, and has collaborated with state authorities to promote low-carbon initiatives geared at reducing emissions associated with polysilicon production.
Overall, the CHIPS and Science Act has earmarked over US$36 billion for semiconductor manufacturing across the country with the intention of generating approximately 125,000 jobs through various initiatives.
The proposed funding reflects the administration’s commitment to revitalizing the US semiconductor industry, which has seen extensive outsourcing over the past few decades.
Don't forget to follow us @INN_Technology for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Tech 5: TSMC, ASML Post Quarterly Results; Amazon, Google Sign Nuclear Power Deals
Chip stocks faced losses early this week, sparking volatility in the tech sector.
Meanwhile, Bitcoin was on the rise after US Vice President Kamala Harris said she plans to support innovation in the cryptocurrency industry. Elsewhere, Google (NASDAQ:GOOGL) and Amazon (NASDAQ:AMZN) signed nuclear power deals.
Stay informed on the latest developments in the tech world with the Investing News Network's round-up.
1. Bitcoin price rises to nearly US$70,000
The price of Bitcoin rose above its 200 day moving average late on Sunday (October 13) evening, reaching US$62,640 on the back of optimism over China’s recently announced stimulus plan. The popular cryptocurrency's gains extended into Monday (October 14) morning, and it eventually surpassed US$66,400 for the first time since late July.
Bitcoin performance, October 12 to 18, 2024.
Chart via CoinGecko.
Data from CoinGlass shows over US$100 million in liquidated short positions due to the sudden price jump.
Open interest in Bitcoin futures has surged to an all-time high, indicating strong institutional participation and raising expectations for a continued price rally. Bitcoin exchange-traded funds also saw record inflows of over US$250 million every day this week, further fueling bullish sentiment among sector participants.
Crypto analyst Omkar Godbole has suggested that the recent breakout could signal a significant upswing. The US$70,000 mark is now being eyed as Bitcoin's next major resistance level, while Ether's next hurdle lies at US$2,770.
Bitcoin closed the week at US$68,362, while Ether finished the period at US$2,663.
US election speculation also impacted Bitcoin this week.
On Monday evening, Harris pledged to support a regulatory framework for crypto, although the news was somewhat dampened as she didn't share a detailed plan. Even so, that didn’t stop Ripple Labs co-founder Chris Larsen from donating US$1 million worth of XRP tokens to Future Forward, a super PAC supporting Harris’ run.
2. Chip stocks stumble on export cap reports
A Monday afternoon report from Bloomberg revealed that the US government is considering capping sales of advanced artificial intelligence (AI) chips from American companies to certain countries.
Sources familiar with the matter said the move would be made in the interest of national security, and that officials are focused on countries located in the Persian Gulf, including the United Arab Emirates and Saudi Arabia.
Both nations have invested heavily in AI, with the United Arab Emirates' Mubadala Investment Firm making significant contributions to Anthropic, and Saudi Arabia establishing a US$40 billion investment fund focused on AI.
NVIDIA and AMD performance, October 14 to 18, 2024.
Chart via Google Finance.
Shares of NVIDIA (NASDAQ:NVDA) fell by over 4 percent on Tuesday (October 15), the day after the report’s release.
Only a day earlier, the company reached its highest closing value since June, driven by positive chip industry sentiment. Shares of AMD (NASDAQ:AMD), one of NVIDIA's top rivals, also fell by over 4 percent on Tuesday morning.
According to Bloomberg, officials from the Bureau of Industry and Security, a spokesperson for the White House National Security Council and representatives from Intel (NASDAQ:INTC), AMD and NVIDIA have declined to comment.
3. ASML's Q3 results fall flat
On Tuesday, ASML (NASDAQ:ASML) mistakenly released its Q3 results one day ahead of schedule, revealing that it has lowered its total net sales guidance for 2025 to 30 billion to 35 billion euros.
The company also missed revenue expectations for the quarter by more than half, prompting a nearly 16 percent decline in its share price for the week and erasing roughly US50 billion from its market cap.
"While there continue to be strong developments and upside potential in AI, other market segments are taking longer to recover. It now appears the recovery is more gradual than previously expected. This is expected to continue in 2025, which is leading to customer cautiousness,” said ASML CEO Christophe Fouquet in a press release.
ASML performance, October 14 to 18, 2024.
Chart via Google Finance.
The impact of ASML's results sent shockwaves through the semiconductor industry, as ASML is a key supplier to many of the world's largest chipmakers. Shares of ASML's major customer, Taiwan Semiconductor Manufacturing Company (TSMC) (NYSE:TSM), also fell about 3.3 percent in early trading on Tuesday. Intel, which has already seen its market share dwindle this year, and Samsung (KRX:005930) also saw their share prices fall by over 2 percent each.
Analysts have attributed ASML's lowered expectations to several factors, including slower-than-expected demand for logic and memory chips and potential export controls in China. “Logic foundries are ramping up new nodes at a slower pace than expected, and ASML is seeing little capacity additions in memory so far,” Morningstar's Javier Correonero wrote on Wednesday (October 16), cutting his fair value estimate for ASML shares from 900 euros to 850 euros.
4. TSMC raises revenue growth target
TSMC posted better-than-expected Q3 results on Thursday (October 17), raising its revenue target for the fourth quarter of the year to the US$26.1 billion to US$26.9 billion range.
Its Q3 earnings increased by 39 percent year-on-year to roughly US$23.5 billion, representing growth of nearly 13 percent compared to the previous quarter. Net income also increased by an impressive 31.2 percent. Investors sent the company’s share price above US$200 for the first time this year on Thursday morning ahead of the release.
TSMC and ASML performance, October 14 to 18, 2024.
Chart via Google Finance.
“Our business in the third quarter was supported by strong smartphone and AI-related demand for our industry-leading 3nm and 5nm technologies,” said Wendell Huang, senior vice president and CFO of TSMC. “Moving into fourth quarter 2024, we expect our business to continue to be supported by strong demand for our leading-edge process technologies."
Shares of TSMC's two biggest customers, NVIDIA and Apple (NASDAQ:AAPL), also received a boost following the release of the report. Apple’s share price opened 1.75 percent higher when the markets opened on Friday (October 18), rising 2.66 percent for the week. NVIDIA, which suffered a setback at the start of the week, opened 2.63 percent higher ahead of the report’s release on Thursday morning. NVIDIA's share price is up 1.11 percent for the week.
5. Google, Amazon sign nuclear power deals
Last month, Microsoft (NASDAQ:MSFT) announced plans to source energy for its data centers from nuclear power, signing a multi-year purchase agreement with Constellation Energy (NASDAQ:CEG). Now, Google and Amazon are the latest Big Tech companies to look to nuclear power to meet their growing energy needs.
On Monday, Google signed an agreement to purchase nuclear energy from several small modular reactors (SMRs) that will be developed by Kairos Power. The deal is part of Google’s efforts to reach its ambitious net-zero goals.
The first SMR is set to come online by 2030, with additional deployments scheduled through 2035.
Amazon made a similar announcement on Wednesday, signing three agreements with Energy Northwest, Dominion Energy (NYSE:D) and X-Energy to support the buildout of SMRs in Virginia and Washington.
Don't forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
TSMC Posts Strong Q3 Performance Despite US Export Ban Probe
Global chipmaker Taiwan Semiconductor Manufacturing Company (TSMC) (NYSE:TSM,TPE:2330) reported strong Q3 results despite ongoing controversies over alleged violations of US export controls.
The company's consolidated revenue for the quarter reached 759.69 billion New Taiwan dollars, up 39 percent year-on-year, while its net income rose 54.2 percent to total 325.26 billion New Taiwan dollars.
In US dollar terms, TSMC's Q3 revenue came in at at US$23.5 billion, a 36 percent year-on-year rise.
Wendell Huang, senior vice president and CFO of TSMC, said on Thursday (October 17) that a key driver of the firm's Q3 success was strong demand for its advanced 3 nanometer and 5 nanometer technologies.
These cutting-edge manufacturing processes, used in the production of chips for smartphones and artificial intelligence applications, accounted for a significant portion of the company’s wafer revenue.
In addition, advanced technologies — defined by TSMC as 7 nanometer and more advanced processes — generated 69 percent of the tech behemoth's wafer revenue during the quarter.
Looking ahead to the year's final quarter, TSMC expects continued demand for its advanced process technologies to drive revenue growth. The company’s management has provided a financial outlook that anticipates Q4 revenue of between US$26.1 billion and US$26.9 billion, reflecting further growth compared to the third quarter.
While TSMC’s financial performance continues to impress, the company is currently the subject of a US Department of Commerce investigation that is seeking to establish whether TSMC is working with Chinese tech giant Huawei.
The inquiry follows concerns that TSMC may be indirectly supplying chips to Huawei through intermediary companies, despite a 2020 ban that restricts the Chinese firm from accessing semiconductors made with US technology.
TSMC has issued a statement affirming its commitment to complying with international regulations. The company has also pledged to take "prompt action" to investigate any potential issues and ensure adherence to US export controls.
TSMC's previous collaboration with Huawei was halted after the US government tightened restrictions on the Chinese company as part of national security measures.
Don't forget to follow us @INN_Technology for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
ASX AI Stocks: 5 Biggest Companies in 2024
Artificial intelligence (AI) continues to evolve and advance rapidly, becoming increasingly integrated in the automation of everyday life and a focal point of growth in the technology sector.
AI is also becoming a major focus for the Australian government, whose budget for the 2023/2024 fiscal year outlines a plan to invest AU$101.2 million in AI development and adoption over the coming years. That includes AU$17 million announced in December 2023 to fund up to five AI Adopt Centres for small- and medium-sized businesses.
According to a September 2023 report from IDC on worldwide AI spending, Australia, along with Korea and India, is leading the Asia-Pacific region in spending on AI solutions; the three countries are also leading when it comes to AI adoption in the area. Spending in the region, excluding Japan and China, is expected to reach US$28.2 billion by 2027.
Although the AI market is relatively small in Australia, it’s growing. To help investors understand the options available, the Investing News Network used TradingView's stock screener to find the top AI stocks on ASX by market cap. All ASX AI stocks data was current as of October 17, 2024; companies whose businesses are focused mainly on AI were considered.
1. NEXTDC (ASX:NXT)
Market cap: AU$11.13 billion
Share price: AU$17.30
NEXTDC is Australia’s leading data centre operator, with 13 functioning centres throughout Australia, New Zealand, Malaysia and Japan, and nine more currently in the works. The company has forged several business and academic partnerships to enhance Australia's digital infrastructure.
NEXTDC revealed last September that it would be partnering with La Trobe Business School’s Research Centre for Data Analytics and Cognition on research into future theoretical and practical applications of AI across a range of industries.
On August 6, NEXTDC obtained NVIDIA's (NASDAQ:NVDA) DGX-Ready Data Center Program certification, enabling them to optimize NVIDIA's AI platforms and power advanced AI data centres in Australia. The company is also this year’s recipient of the Australian Data Centre Service Company of the Year award, an accolade given to companies that demonstrate excellence and innovation in the Australian data services industry.
2. Appen (ASX:APX)
Market cap: AU$488.95 million
Share price: AU$2.03
Appen began in 1996 as an automated speech recognition startup by a couple based in Sydney, New South Wales. Today, the company operates as a trusted partner to firms transitioning to AI usage, with a suite of industry-specific large language models and AI-training products.
In January, long-time partner Alphabet (NASDAQ:GOOGL) cut ties to focus on in-house AI. Despite the loss of Google’s business, Appen’s Q2 2024 results showed revenue growth and a positive month-on-month trajectory. Following their release on July 30, the company's share price leapt 55.81 percent from the prior day, and it has continued upwards, rising over 200 percent since then.
3. BrainChip (ASX:BRN)
Market cap: AU$475.48 million
Share price: AU$0.23
BrainChip is the company behind Akida, a revolutionary digital neuromorphic chip that’s built with a spiking neural network, a type of artificial network that mimics the way messages are passed between neurons in the human brain.
Because the AI is inside the chip, the chip can learn on its own and is not reliant on the cloud or other networks. This makes it much more secure and reduces latency as well. The company’s lowest-power version, Akida Pico, was released on October 1.
On June 5, the company released a white paper for its newly developed technology called TENNs-PLEIADES, an efficient AI processor that can perform complex tasks like decision-making, object recognition and data analysis. Unlike Akida, this chip is designed for spatiotemporal classification and detection using event-based data, making it particularly well-suited for low-latency applications such as self-driving cars.
4. Ai-Media Technologies (ASX:AIM)
Market cap: AU$167.87 million
Share price: AU$0.76
Ai-Media Technologies is a global media access provider with operations in four key regions: Australia and New Zealand, North America, EMEA (Europe, Middle East, and Africa), and Asia. It was founded in 2003 by Tony Abrahams and Alex Jones, who was born deaf, and began trading on the ASX on September 15, 2020.
The company uses its AI-powered LEXI captioning solution to transcribe speech, making media accessible to all. It is now one of the world’s leading caption and translation providers, with monthly delivery of over 9 million minutes of captioned live and recorded media, according to its website.
5. Bigtincan Holdings (ASX:BTH)
Market cap: AU$147.9 million
Share price: AU$0.17
Bigtincan Holdings is a sales platform that uses AI to help companies improve their customers’ buying experience by making the process more efficient and personalised. Bigtincan’s list of partners includes Apple (NASDAQ:AAPL), Adobe (NASDAQ:ADBE), SalesForce (NYSE:CRM) and Microsoft (NASDAQ:MSFT). Its large language model, GenieAI, was launched in March 2023.
Bigtincan’s H1 fiscal year 2024 report revealed that GenieAI started generating revenue during the period, and the company reported positive earnings before interest, taxes, depreciation and amortization (EBITDA), up 136 percent from the previous reporting period. On September 10, the company partnered with SambaNova, a company providing "the world's fastest AI platform," to enhance Bigtincan's SearchAI.
FAQs for investing in AI
What is artificial intelligence?
AI is defined as human intelligence exhibited by machines. The development of graphics processing units with faster and more powerful chips has supported the emergence of AI technologies.
Where is AI used?
AI has been heralded as a technology of the fourth industrial revolution, with heavy investment from industries including transportation, manufacturing, education and agriculture. Some of the sectors that will likely see the fastest AI investment growth in the coming years are healthcare, pharmaceutical research, retail, industrial automation, finance and intelligent process automation.
How to invest in AI stocks?
Investors looking to capitalise on AI's growth potential have a number of entry points when it comes to stocks. It's key for each person to practise due diligence and speak to their broker to determine the most suitable investments.
The companies listed above have a strong focus on AI, but investing in companies that are using AI as part of a larger business model is one way to gain indirect exposure to the sector. Examples of stocks like this on the ASX include Block (ASX:SQ2), WiseTech Global (ASX:WTC), Seek (ASX:SEK) and Xero (ASX:XRO).
For a more diversified approach, the Betashares Global Robotics and Artificial Intelligence ETF (ASX:RBTZ) invests in companies involved in the development of AI applications all across the globe. Investing in an exchange-traded fund is a low-cost way to benefit from a sector without directly buying individual stocks.
This is an updated version of an article first published by the Investing News Network in 2020.
Don’t forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
ASML Lowers 2025 Guidance, Triggering Chip Stock Losses
Netherlands-based semiconductor equipment giant ASML Holding (NASDAQ:ASML) experienced its largest single-day share price drop since 1998 after sharing a weaker-than-expected 2025 forecast.
The company plummeted about 16 percent on Tuesday (October 15) after releasing its Q3 report and guidance for next year. Its results were published a day earlier than expected due to a technical error.
CEO Christophe Fouquet said in a press release that ASML expects total net sales of 30 billion to 35 billion euros next year, which is in the lower half of the range mentioned at the company's 2022 investor day.
"While there continue to be strong developments and upside potential in artificial intelligence (AI), other market segments are taking longer to recover. It now appears the recovery is more gradual than previously expected," he said.
ASML, which is known for supplying lithography machines to semiconductor manufacturers such as Taiwan Semiconductor Manufacturing Company (NYSE:TSM), Intel (NASDAQ:INTC) and Samsung (KRX:005930), said its customers currently have a cautious mindset due to the market dynamics outlined by Fouquet.
Total net sales for Q3 came in at 7.5 billion euros, slightly beating expectations; however, net bookings for the quarter were reported at just 2.6 billion euros, significantly below market forecasts of 4 to 6 billion euros.
ASML's share price decline weighed on other tech stocks that have benefited from the surge in demand for advanced chips, but are now facing potential headwinds if chipmakers scale back investments.
Several semiconductor manufacturers have delayed capital expenditure plans due to lower-than-expected demand in consumer electronics and smartphones. Intel previously announced major workforce cuts geared at helping it save US$10 billion in 2025, affecting orders for ASML’s lithography tools. Similarly, memory chipmakers have shifted their focus from expanding capacity to improving technological efficiency, contributing to fewer orders for new systems.
ASML has also faced limitations in selling its most advanced lithography tools to China due to US-led export controls.
Don't forget to follow us @INN_Technology for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Microsoft Unveils Expanded AI Solutions to Support Healthcare Sector
Microsoft (NASDAQ:MSFT) announced a range of new innovations under its Microsoft Cloud for Healthcare platform on October 10, saying it is looking to reshape healthcare delivery via artificial intelligence (AI).
Among the offerings is the introduction of healthcare-specific AI models in Azure AI Studio. These models have been built to manage complex healthcare data types, include medical imaging, genomic and clinical records data.
According to the company, by using these models, healthcare organizations will gain the ability to develop tailored AI applications and systems that address their unique operational needs.
Joe Petro, Microsoft’s corporate vice president of healthcare and life sciences solutions, emphasized that AI technology has reached a pivotal moment where it can fundamentally enhance the healthcare experience.
“We are at an inflection point where AI breakthroughs are fundamentally changing the way we work and live,” he commented. “Across the broader healthcare and life sciences industry, these advancements are dramatically enhancing patient care and also rekindling the joy of practicing medicine for clinicians.”
The World Health Organization has predicted a shortage of 4.5 million nurses globally by 2030, highlighting the need for technological support across the healthcare industry.
Microsoft partnered with organizations like Providence Genomics to develop the new AI models, which are geared at supplementing human analysis by offering deeper insights beyond traditional visual methods.
In the company's release, Carlo Bifulco, MD, chief medical officer at Providence, notes that a key feature of the AI models is their use in medical imaging and pathology; this makes them critical to diagnosing and treating diseases like cancer.
Another challenge facing healthcare providers is the handling and interpretation of vast amounts of unstructured data.
To address this, Microsoft Fabric, a unified platform for data management, now includes healthcare-specific data solutions that manage critical data more efficiently, offering healthcare providers better knowledge on patient care.
The platform offers several new tools that help users integrate conversational data, such as patient-doctor discussions, into broader analysis. Additionally, it provides the ability for companies to ingest and process public datasets related to social determinants of health, streamlining claims data for actionable insights.
Microsoft has also launched new capabilities for care management analytics, allowing healthcare organizations to leverage AI in identifying high-risk patients and subsequently optimizing their treatment plans.
Through collaborations with healthcare providers like Duke Health, Advocate Health and Intermountain Health, the firm has developed tools that assist in automating routine tasks, allowing nurses to focus on patient care.
Another major aspect of Microsoft’s initiative is the launch of the healthcare agent service in its Copilot Studio. According to the company, this service provides healthcare organizations with the ability to build AI agents to handle tasks such as appointment scheduling, patient triaging and clinical trial matching.
Early adopters, including Cleveland Clinic, have already integrated this system into their operations.
Don't forget to follow us @INN_Technology for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Latest News
Latest Press Releases
Related News
TOP STOCKS
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.