GE Healthcare has worked in collaboration with Nex Cubed to design a programme in Canada called Edison Accelerator. The goal of the programme is to expedite, validate and scale innovative solutions that address important challenges within the health sector.
Six digital health start-ups from five countries have recently been selected to become the first cohort of the program. All of the start-ups are artificial intelligence (AI) focused, specifically looking at AI to augment medical imaging. This, they hope, will improve patient care by changing the way healthcare is delivered, allowing clinicians to spend more direct time on patient care and ultimately reduce burnout. The companies were chosen based on proposed solutions to current problems in healthcare. The Edison Accelerator programme is focused on innovative applications and solutions, and they hope to expedite the use of AI in clinical practice.
Sometimes the medical industry can be slow when adapting to new technologies such as AI. Devices can be heavily regulated and extremely expensive. That being said, having a programme such as Edison Accelerator could be useful in getting more products on the market and used in everyday practice.
The companies that were chosen to participate in the programme are:
- 16 Bit, a physician-founded start-up that has created a computer-aided detection software to function as a pre-screening device for low bone mineral density
- Bot Image, a medical device company that created a post-processing magnetic resonance imaging (MRI) device that uses AI to aid clinicians in image interpretation by providing prostate cancer diagnostics
- CardioWise, an AI cardiac image analysis company that simplifies heart disease diagnoses
- contextflow, which has developed deep learning-based tools to help radiologists complete their daily workload by providing analysis of lung disease patterns
- corelinesoft, which specialises in AI development that provides medical image processing solutions
- US2.ai, a software start-up automating the fight against heart disease with AI-structured reports automatically processed in less than two minutes
Over the next few months, the companies will test their solutions within the Edison Digital Health Platform. The platform is vendor-friendly, with the goal of developing and deploying AI tools that can be used in practice within the clinical workflow. All of the companies will get a customised programme plan and mentors to expedite integration and commercialisation.
Investing in AI in healthcare is important. AI is the future of healthcare: it has the potential to improve the healthcare system, and this knowledge is spreading. GlobalData forecasts suggest the market for AI platforms in healthcare will reach $4.3bn, and healthcare providers will be spending more on AI platforms in 2024 than any other year in the following decade, representing a compound annual growth rate (CAGR) of 24.6%.
The Edison Accelerator programme will include an ‘Innovation Showcase’, in which the companies will present to investors and potential business partners who could help improve their companies and products. Successful applications/products may be distributed through the GE Healthcare Marketplace, GE Healthcare’s online store.