- AI/ML Innovations (CSE:AIML) has acquired cutting-edge technologies from Naiad Lab after the signing of a definitive agreement
- The technologies include a proprietary Long ECG Netural Net for cardiovascular insights and the Neural Network Store
- The assets are artificial intelligence-driven strategic assets
- Shares of AI/ML Innovations are unchanged at C$0.05
AI/ML Innovations (CSE:AIML) has revealed it has acquired cutting-edge technologies from Naiad Lab after the signing of a definitive agreement.
In a news release, the company stated the technologies include a proprietary Long ECG Netural Net for cardiovascular insights and the Neural Network Store.
“The acquisition of Naiad Lab’s technology is a significant step for AIML,” Paul Duffy, CEO of AI/ML Innovations, said in a statement. “It not only strengthens our portfolio, but also positions us at the forefront of biometric measurement innovations.”
Notably, the Long ECG Neutral Net provides detailed beat-to-beat labeling for ECGs for durations of up to 48 hours and covers roughly 170,000 labeled heartbeats.
Meanwhile, the Neural Network Store is a subscription-based online neural net store that allows device company developers and researchers to upload files to be analyzed by artificial intelligence (AI) systems.
“Our mission is to leverage state-of-the-art neural networks to deliver actionable health insights,” Esmat Naikyar, CEO of Naiad Lab, said in a statement. “The Long ECG Neural Net fits that model perfectly as it provides near instantaneous actionable feedback to the healthcare provider.”
Terms of the acquisition include:
- AI/ML Innovations has purchased 100 per cent of the Long ECG Neural Net and 100 per cent of the Neural Network Store
- AI/ML issues 6.7 million common shares to Naiad as full and final payment for the technology
- AI/ML has created a new subsidiary that will hold the technology
- Ai/ML will pay a streaming royalty to Naiad for up to 20 years
AI/ML Innovations is capitalizing AI and machine learning (ML) with an initial investment focus on emerging digital health and wellbeing companies that leverage AI, ML, cloud computing and digital platforms to drive transformative healthcare management solutions and precision support delivery across the health continuum.
Shares of AI/ML Innovations Inc. (CSE:AIML) are unchanged at C$0.05.
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