GE Healthcare’s Edison Accelerator Program to Foster AI in Medicine

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GE Healthcare worked with Nex Cubed to design a program in Canada called Edison Accelerator. The goal of the program is to accelerate, validate and scale innovative solutions that address important challenges in the healthcare sector.

Six digital health start-ups from five countries were recently selected to become the program’s first cohort. All start-ups are focused on artificial intelligence (AI), especially AI to augment medical imaging. This, they hope, will improve patient care by changing the way health care is delivered, allowing clinicians to spend more direct time caring for patients and ultimately reducing burnout. The companies were chosen based on the proposed solutions to current problems in the field of health. The Edison Accelerator program is focused on innovative applications and solutions, and they hope to accelerate the use of AI in clinical practice.

Sometimes the medical industry can be slow to adapt to new technologies such as AI. Devices can be heavily regulated and extremely expensive. That being said, having a program like Edison Accelerator could be helpful in bringing more products to market and using them in daily practice.

The companies selected to participate in the program are:

  • 16 Bit, a physician-founded startup that created computer-assisted detection software to work as a pre-screening device for low bone mineral density
  • Bot Image, a medical device company that has created a post-processing magnetic resonance imaging (MRI) machine that uses AI to help clinicians interpret images in providing prostate cancer diagnoses
  • CardioWise, an AI cardiac image analysis company that simplifies heart disease diagnostics
  • contextflow, which has developed deep learning-based tools to help radiologists accomplish their daily workload by providing analysis of lung disease patterns
  • corelinesoft, specializing in the development of AI that provides medical image processing solutions
  • US2.ai, a software startup automating the fight against heart disease with AI-structured reports automatically processed in less than two minutes

Over the next few months, companies will test their solutions within the Edison digital health platform. The platform is user-friendly for providers, with the aim of developing and deploying AI tools that can be used practically in the clinical workflow. All companies will receive a personalized program plan and mentors to accelerate onboarding and commercialization.

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 $4.3 billion and healthcare providers will spend more on AI platforms in 2024 than any other year in the world. decade, representing a compound annual growth rate (CAGR) of 24.6%.

The Edison Accelerator program will include an “Innovation Showcase,” in which companies will pitch to potential investors and business partners who could help improve their businesses and products. Successful applications/products may be distributed through GE Healthcare Marketplace, GE Healthcare’s online store.

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