Healthcare solutions provider InveniAI has launched new products that leverage its artificial intelligence (AI) and machine learning (ML)-based AlphaMeld platform to enable decision making for stakeholders in the life sciences industry.

AlphaMeld is designed to track alpha signals that suggest a potential innovation. It identifies these signals by allowing internal experts to offer their definition of success and failure for a firm or sector.

Using industry-aware customised scoring algorithms, the platform continuously adds feedback via machine learning. It is intended to strengthen human expertise in order to facilitate better decision-making based on the requirements of various stakeholders within an organisation.

With the launch of new products, the company expects to democratise data analysis across the life sciences value chain.

The new CIMeld product uses digital data and AI technology to analyse signals from different sources for providing insights and identifying opportunities and threats across diseases, drug portfolios, companies and early innovation.

InveniAI CBO Aman Kant said: “As organisations increasingly embrace digital transformation and adopt technologies to gain a competitive advantage to transform innovation decisions, we are confident AlphaMeld and its suite of products will provide invaluable insights to enable robust decision-making across organisations that are seeking immediate impact by turning AI-powered insights into actionable outcomes.”

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The new AlphaMeld-powered solutions can be accessed through a secure, customised, cloud-based interface. These products offer insights on competition and business intelligence.

In addition, the products focus on innovation challenges in life sciences such as detecting early signals related to target identification and validation, technology innovations and clinical innovations that recognise drugs with high potential for clinical success.

InveniAI president and CEO Krishnan Nandabalan added: “Our platform is commercially validated with multiple clinical candidates – the most advanced programme will be entering pivotal trials and numerous other programmes entering human proof of concept trials.”