BioSig Technologies, Inc., a medical technology company commercializing an innovative signal processing platform designed to improve signal fidelity and uncover the full range of ECG and intracardiac signals, announced today that it has been invited to join the Alliance for Artificial Intelligence in Healthcare (AAIH) and had accepted the invitation, following BioSig’s major patent awards for its technology.
The AAIH is a global advocacy organization dedicated to the development and application of artificial intelligence in healthcare, to improve patients’ lives and create more efficient, sustainable, and accessible healthcare systems. From biomedical discovery to clinical research, medical diagnostics and devices, and precision medicine, the AAIH, and its member companies and organizations are committed to developing novel interventions and product solutions to minimize failure rates and costs while maximizing productivity across the entire healthcare spectrum. The initiative was officially unveiled in 2019 with 22 members, including Amazon WS, Bayer, GE Healthcare, GlaxoSmithKline, and the University of Pittsburg.
BioSig and the Mayo Foundation for Medical Education and Research recently announced a strategic partnership to create next-generation AI and deep learning software for the PURE EPTM System. The Company’s platform technology provides signal information during cardiac ablations for the treatment of arrhythmias, or irregular heartbeats, which affect over 33 million people worldwide. The Company’s recently developed AI initiative aims to develop novel technological solutions to improve existing therapies by integrating the electrophysiological signals of the PURE EPTM with data from many other sources.
In their partnership for AI technical advisory services with Harvard- and MIT-trained computer scientist and physicist, Dr. Wissner-Gross of Reified, the Company has also announced significant strategic partnerships with other subject-matter experts to further the AI and machine learning applications of the PURE EPTM System. In 2020, the Company and Reified co-authored an abstract titled ‘Computational Reconstruction of Electrocardiogram Lead Placement,’ which proposed a new method for analyzing electrocardiograms that could eventually help to improve the automated patient classification.
The global demand for AI in healthcare is expected to grow at a compound annual growth rate (CAGR) of 44.9% from $4.9 billion in 2020 to $45.2 billion in 2026. Accenture estimates that when key clinical health AI applications are combined, the United States’ healthcare economy will save $150 billion annually by 2026.