Each week we will share the latest artificial intelligence news and insights, curated for professionals, board members, and entrepreneurs, as we learn to navigate together the opportunities and threats arising from the evolution of AI and technology.
This week in AI
In AI news this week, we cover the macro economic environment, the launch of our AI in Healthcare series, and the latest funding news.
Macro Economic Environment
- Storm clouds have been gathering as Central Banks have started the great unwind of Quantitative Easing as once in a generation inflation continues to run ahead of the direst of predictions.
- The Federal Reserve raised rates by fifty basis points and trillions were wiped off stock markets globally. Technology stocks have taken the brunt of the losses as Apple is replaced by Saudi Aramco as the most valuable company in the world.
- A gale also blew through web 3 funding markets with the algorithmic stable coin, UST, “breaking the buck “ and its partner coin, Luna, losing 99 % of its value. Traders are licking their wounds and layoffs are now happening in Singapore with more hubs soon to follow as crypto firms look to conserve cash.
- Funding for AI firms has continued to close, and we cover some of the more news worthy deals, but valuations and ticket sizes are shrinking with only the strongest firms closing deals.
State of AI in Healthcare Research
Turning to our latest research, the State of AI in Healthcare was launched last week. AI systems in Healthcare were estimated to generate six point seven billion U.S. dollars in revenue in 2021, according to Statista. Despite the current downturn in funding, AI Healthcare spending is estimated to double every 2 years with an estimated healthcare AI spend approaching 100 billion US dollars by 2030.
The report will focus on six themes:
- Payer Efficacy and Efficiency
- Provider Operations and Prediction
- Enhancing Healthcare Professionals and Patient Engagement
- Diagnostics and Pathology
- Health Data and Tokenization
- Medical Research
A briefing and sponsorship pack is available by emailing Matthew@ai-forum.com
AI Funding News
Lightly was founded by Igor Susmelj and Matthias Heller in 2019 in Zurich, Switzerland. The firm has built a “plug-and-play data selection tool with a suite of parameters that filters almost every type of image data”. The team have raised three million US dollars in seed finance from Y Combinator and Wingman Ventures.
PatientIQ is based in Chicago, USA, and raised twenty million US dollars in Series B finance. With the round led by Health Enterprise Partners and August Capital, the PatientIQ platform derives actionable insights from patient outcomes data for over 200 healthcare organisations and outcomes data from more than 1.4 million patients.
Therapixel is located in Nice, France, and offers solutions that use artificial intelligence for medical imaging analysis. A Series B round for fifteen million Euros / Dollars was led by Credit Mutuel Innovation and Cap Horn. Funding will be used to expand in the U.S. market and launch its MammoScreen platform, a breast cancer screening AI solution.
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