Artificial Intelligence
iCAD Reports Over 1,000 Licenses Sold as Part of ProFound AI Sales
Significant Percentage of Licenses Sold to Facilities with GE, Siemens, and Sites with Multiple Vendors Including Hologic and Fuji
ProFound AI for DBT Offers Superior Clinical Performance When Compared to Other Commercially Available Breast AI Systems
NASHUA, N.H., Nov. 24, 2020 (GLOBE NEWSWIRE) — iCAD, Inc. (NASDAQ: ICAD), a global medical technology leader providing innovative cancer detection and therapy solutions, today reported that over 1,000 licenses have been sold as part of ProFound AI® sales since the products were launched, signaling the rapid and wide-spread adoption of the pioneering cancer detection software solution built on artificial intelligence (AI). The sales have been distributed across all major mammography system vendors and enterprise-wide viewing applications with a significant percentage to date sold to hospitals and imaging centers with GE and Siemens, as well as facilities with more than one imaging system vendor, including Hologic and Fuji.
The solid momentum is led by the Company’s growing customer base and demand for its expanded suite of leading breast health AI solutions, including ProFound AI for both Digital Breast Tomosynthesis (DBT) and 2D mammography, and interest in the recently introduced ProFound AI Risk, which is helping to transform breast cancer screening from age-based screening to risk-adapted precision screening, individualized for each woman.
“iCAD offers the full continuum of breast health AI products—both for the detection of current breast cancers and for future risk assessment,” said Michael Klein, Chairman and CEO of iCAD. “We do so on a non-exclusive, open architecture basis, therefore allowing all global customers access to the best of breed AI software available. Of significant note is that no other breast AI solution has been shown to improve radiologists’ clinical performance when reading DBT more so than ProFound AI. Specifically, our high-performing cancer detection and workflow solution offers the highest cancer detection rate, the lowest false positive rate and a dramatic 52.7% reduction in radiologists’ reading time, representing a high level of clinical significance and advantage.”
According to Kathy Schilling, MD, Medical Director of the Christine E. Lynn Women’s Health & Wellness Institute at the Boca Raton Regional Hospital, “ProFound AI for DBT rapidly and accurately analyze patients’ DBT mammography images, identifying suspicious lesions and producing quantifiable AI scores, which enables us to identify cancers earlier. The software also improves workflow issues, as we’re able to more quickly navigate through DBT datasets.”
ProFound AI Risk is the first and only commercially available clinical decision support tool to provide an accurate two-year breast cancer risk estimation based solely on a screening mammogram. Compelling research published in the peer-reviewed journal, Radiology concluded that the ProFound AI Risk model is effective at identifying women at high likelihood of being diagnosed with breast cancer within two years of a negative screening mammogram and in possible need of supplemental screening.
“I was very enthusiastic about the launch of ProFound AI Risk, which I believe is more accurate than the other risk tools I’ve used, and it is very easy to integrate into my daily workflow,” said Carine Van De Merckt, MD, Radiologist at Institut Jules Bordet in Brussels, Belgium. “Furthermore, it has proven to help me in my clinical decision making, allowing me to continue to provide the best care to my patients with even more confidence.”
As part of the Company’s growth, iCAD has recently achieved significant milestones, including:
- Sequential Revenue Growth of 44% in Third Quarter: The Company realized significant revenue growth over the second quarter in 2020, particularly with its innovative ProFound AI product offerings, which grew 44%.
- Strong International Growth: The Company, with products now distributed in 22 countries outside the U.S., recently signed distribution agreements in Switzerland and Portugal. The first ProFound AI for DBT sold in the United Kingdom and the first ProFound AI Risk sold in Belgium both occurred in October 2020.
- Distribution Agreement with Change Healthcare: A new agreement with the leading independent healthcare technology company, Change Healthcare, enhances commercial access to enterprise imaging and integrated delivery system networks throughout the U.S.
According to Change Healthcare’s Tracy Byers, Senior Vice President and General Manager of Imaging, as Change Healthcare looks to accelerate and transform enterprise imaging with the use of AI and cloud-native solutions, the partnership with iCAD enables them to offer their customers the ProFound AI platform as part of their Mammography Plus offering. “We are focused on radiologist productivity and aiding them with decision support tools that are elegantly integrated into their workflow,” said Byers. “The integration of iCAD’s AI solutions into our digital mammography platform will help improve patient outcomes by improving early cancer detection and enhancing clinical workflow. We could not be more excited about empowering our customers and our new partnership with iCAD.”
“iCAD’s momentum underscores the increasing demand for our comprehensive breast health AI solutions for DBT, breast density, and 2D mammography, offering clinicians a broad range of powerful tools for early disease detection and optimized reading workflow that results in improved patient outcomes,” said Stacey Stevens, president at iCAD. “This, coupled with ProFound AI’s seamless integration with major PACS for decision support capabilities across large networks, and ProFound AI’s compatibility with all leading mammography systems, allows hospitals and imaging centers with one or multi-vendor imaging systems to have a proven, standardized AI solution.
“Moreover, our principal approach to transforming breast cancer detection and care is best illustrated by our panoramic vision—to provide a more holistic view of each patient’s current imaging exam, history, and short-term risk,” continued Stevens. “With the addition of ProFound AI Risk, we intend to move mammography from primarily an age-based screening paradigm to a risk-adjusted precision screening paradigm that is truly personalized for every woman.”
About iCAD, Inc.
Headquartered in Nashua, NH, iCAD is a global medical technology leader providing innovative cancer detection and therapy solutions.
ProFound AI for DBT is proven to curtail workflow challenges substantially by reducing radiologists’ reading time by 52.7%, thereby reducing by half the amount of time it takes radiologists to read 3D mammography datasets. Additionally, the platform improved radiologists’ performance measured by Area Under the Curve (AUC) by nearly 6% and reduced unnecessary patient recall rates by more than 7%.i
ProFound AI Risk is currently available on an introductory basis for 2D mammography and will subsequently be available for the rapidly growing 3D mammography market.
For more information, visit www.icadmed.com and www.xoftinc.com
Forward-Looking Statements
Certain statements contained in this News Release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the future prospects for the Company’s technology platforms and products. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited, to the Company’s ability to achieve business and strategic objectives, the willingness of patients to undergo mammography screening in light of risks of potential exposure to Covid-19, whether mammography screening will be treated as an essential procedure, whether ProFound AI will improve reading efficiency, improve specificity and sensitivity, reduce false positives and otherwise prove to be more beneficial for patients and clinicians, the impact of supply and manufacturing constraints or difficulties on our ability to fulfill our orders, uncertainty of future sales levels, to defend itself in litigation matters, protection of patents and other proprietary rights, product market acceptance, possible technological obsolescence of products, increased competition, government regulation, changes in Medicare or other reimbursement policies, risks relating to our existing and future debt obligations, competitive factors, the effects of a decline in the economy or markets served by the Company; and other risks detailed in the Company’s filings with the Securities and Exchange Commission. The words “believe,” “demonstrate,” “intend,” “expect,” “estimate,” “will,” “continue,” “anticipate,” “likely,” “seek,” and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on those forward-looking statements, which speak only as of the date the statement was made. The Company is under no obligation to provide any updates to any information contained in this release. For additional disclosure regarding these and other risks faced by iCAD, please see the disclosure contained in our public filings with the Securities and Exchange Commission, available on the Investors section of our website at http://www.icadmed.com and on the SEC’s website at http://www.sec.gov.
Media Inquiries:
Amy Cook, iCAD
+1 (925) 200-2125
[email protected]
Investor Relations:
Jeremy Feffer, LifeSci Advisors
+1 (212) 915-2568
[email protected]
__________________________
i Conant, E et al. (2019). Improving Accuracy and Efficiency with Concurrent Use of Artificial Intelligence for Digital Breast Tomosynthesis. Radiology: Artificial Intelligence. 1 (4). Accessed via https://pubs.rsna.org/doi/10.1148/ryai.2019180096
Artificial Intelligence
DeepL announces $300 million investment at $2 billion valuation fueled by global demand for AI language solutions
Index Ventures led heavily oversubscribed round with participation from late-stage investment firms ICONIQ Growth, Teachers’ Venture Growth, and more Rapid enterprise adoption of DeepL has fueled the company’s growth in 60+ global markets for 100,000+ businesses, governments, and other organizationsDeepL’s Language AI Platform for business provides category-leading AI-powered translation and writing solutions COLOGNE, Germany, May 22, 2024 /PRNewswire/ — DeepL, a leading Language AI company, today announced $300 million of investment at a $2 billion valuation. Led by Index Ventures, the heavily oversubscribed round attracted strong support from new investors, who will bring their extensive expertise, connections, and resources to support DeepL’s growth and long-term vision to transform the way companies communicate around the world. Additional late-stage investors, including ICONIQ Growth, Teachers’ Venture Growth, and others, also participated, along with existing investors IVP, Atomico, and WiL.
“We’re approaching an inflection point in the AI boom where businesses who are racing to adopt the technology begin to discern between hype versus solutions that are secure and actually solve real problems in their business,” said Jarek Kutylowski, founder and CEO of DeepL. “This new investment comes during what is on track to be DeepL’s most transformative year yet and is a testament to the crucial role that our Language AI platform has in solving the complex linguistic challenges global companies face today. We’re highly focused on continued growth and innovation to expand our solutions and ensure they remain industry-leading in terms of quality, precision, and security. This will bring us closer to a future where every company, regardless of location, can operate seamlessly on a global scale with our AI.”
The new investment comes during a period of significant growth and momentum for DeepL, which has amassed a customer network of 100,000+ businesses, governments, and other organizations worldwide. This network includes Zendesk, Nikkei, Coursera, and Deutsche Bahn, who rely on its highly accurate and secure enterprise Language AI platform to deliver seamless communication, driving international growth and cost savings. In response to surging demand from global enterprises, DeepL has accelerated its expansion efforts and strategic investments into key markets over the past year. In January 2024, DeepL deepened its commitment to the U.S.—now its third largest market—by opening its first office in the region. The company continues to expand its team in the U.S. to support growing demand.
Within the last 12 months, DeepL has also substantially broadened its product offerings tailored for businesses. In April 2024, the company launched DeepL Write Pro, a writing assistant specifically tailored for business writing, powered by its own proprietary LLM technology. The company also continues to expand the range of languages supported by its platform with the recent additions of Arabic, as well as Korean and Norwegian, bringing its total number of languages to 32.
“DeepL’s runaway success is a bit of an ‘open secret’ in the business community,” said Danny Rimer, who led the investment from Index Ventures. “The company is exceptionally thoughtful about creating cutting-edge AI products that deliver real and immediate value to their customers. Jarek and the rest of the DeepL team are equally research and commercially minded – both of which are key to the company’s success.” Index Ventures is recognized for its investments in highly successful SaaS businesses like Figma, Slack, Wiz, and Scale AI.
Demand for AI solutions among global enterprises is on the rise. A recent IBM study found that 42% are already actively deploying AI and 40% are exploring its potential. Within this rapidly evolving landscape, DeepL is leading the way in applying AI to transform the $67.9 billion language industry, which is projected to grow to $95.3 billion by 2028.
Since its inception in 2017, DeepL has become the Language AI provider of choice for businesses across multiple industries including manufacturing, legal, retail, healthcare, technology, and professional services. The company’s specialized Language AI platform has become a critical investment for global businesses today, addressing a variety of communication challenges ranging from internal communications to customer support and international market expansion. Unlike general-purpose AI systems, DeepL’s cutting-edge translation and writing solutions rely on specialized AI models specifically tuned for language, resulting in more precise translations for a variety of use cases and a reduced risk of hallucinations and misinformation. In business translation and writing, accuracy is paramount, making specialized AI models the most reliable and preferred solution for language challenges.
DeepL’s Language AI platform is also proven to drive significant cost savings and efficiencies. A 2024 Forrester study revealed that the use of DeepL delivered 345% ROI for global companies, reducing translation time by 90% and driving a 50% in workload reduction, underscoring, in our opinion, the power of its platform for businesses looking to grow their revenue and enter new markets faster and at scale.
“At Zendesk we see first hand the power of infusing AI tools into customer experience, and DeepL’s industry-leading translation is a prime example,” said Adrian McDermott, CTO, Zendesk. “The ability to have accurate AI translation allows companies from startups to large enterprises the ability to scale globally, reaching prospects and existing customers in new ways. Zendesk’s open and flexible platform allows for seamless partnerships, and the tangible results we’ve seen so far from joint customers have us looking forward to continued work with DeepL.”
Looking ahead, DeepL will continue to invest in research and product innovation to strengthen its suite of leading AI communication tools for businesses. The company is also doubling down on global market expansion and talent recruitment across multiple areas including AI research, product, engineering, and GTM.
About DeepLDeepL is on a mission to break down language barriers for businesses everywhere. Over 100,000 businesses, governments and other organizations and millions of individuals in 63 global markets trust DeepL’s Language AI platform for human-like translation and better writing. Designed with enterprise security in mind, companies around the world leverage DeepL’s AI solutions that are specifically tuned for language to transform business communications, expand markets and improve productivity. Founded in 2017 by CEO Jaroslaw (Jarek) Kutylowski, DeepL today has over 900 passionate employees and is supported by world-renowned investors including Benchmark, IVP and Index Ventures.
Contact:Sebastian RiesOpeners [email protected]+49 1578 058 8488
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Artificial Intelligence
Hyundai Motor and Plus Announce Collaboration to Demonstrate First Level 4 Autonomous Fuel Cell Electric Truck in the U.S.
Hyundai Motor and Plus collaboration aims to enhance road safety and freight efficiencies by demonstrating benefits of XCIENT Fuel Cell truck equipped with Plus’s Level 4 autonomous driving softwareHyundai Motor’s Class 8 XCIENT Fuel Cell truck featuring Plus’s Level 4 SuperDrive™ system is on display at the Plus ACT Expo booth (#2044)LAS VEGAS and SEOUL, South Korea, May 22, 2024 /PRNewswire/ — Hyundai Motor Company (Hyundai Motor) and autonomous driving software leader Plus today unveiled the first Level 4 autonomous Class 8 hydrogen fuel cell electric truck in the U.S. at the Advanced Clean Transportation (ACT) Expo, the largest advanced clean transportation technology and fleet event in North America.
A result of the collaboration between Hyundai Motor and Plus, Hyundai Motor’s XCIENT Fuel Cell truck, equipped with Plus SuperDrive™ Level 4 autonomous driving technology, is on display at the Plus ACT Expo booth (#2044).
The Level 4 autonomous XCIENT Fuel Cell truck is undergoing initial autonomous driving assessments in the U.S., making it the first-ever Level 4 self-driving test on a Class 8 fuel cell electric truck to take place in the country. The collaboration seeks to show that autonomous hydrogen fuel cell trucks can help make trucking safer, more efficient, and more sustainable.
“We are excited to showcase our collaboration with Plus to test Level 4 autonomous driving technology with our Class 8 XCIENT Fuel Cell truck,” said Martin Zeilinger, Executive Vice President and Head of Commercial Vehicle Development at Hyundai. “Hyundai Motor has been driving the energy transition paradigm with our advanced fuel cell technologies. By adding autonomous capabilities to our world’s first mass-produced hydrogen-powered XCIENT Fuel Cell truck, Hyundai is looking forward to providing fleets and vehicle operators additional solutions that enhance road safety and freight efficiencies thanks to Plus’s industry-leading autonomous driving technology.”
First introduced in 2020, Hyundai Motor’s XCIENT Fuel Cell truck has conducted commercial operations in eight countries worldwide, establishing a successful track record of real-world applications and technological reliability.
At last year’s ACT Expo, Hyundai introduced XCIENT Fuel Cell tractor, the commercialized Class 8 6×4 fuel cell electric model, powered by two 90kW hydrogen fuel cell systems and a 350kW e-motor, providing a driving range of over 450 miles per charge even when fully loaded.
Plus’s SuperDrive™ solution is being deployed across the U.S., Europe, and Australia. The system uses a combination of cutting-edge sensors, including LiDAR, radar and cameras, to provide surround perception, planning, prediction and self-driving capabilities.
“We are thrilled to collaborate with Hyundai Motor Company on this important initiative to create more sustainable and safe transportation options. A decarbonized future with autonomous hydrogen fuel cell electric trucks that also improve safety and efficiency is one that Plus is proud to support with our cutting-edge autonomous driving technology,” said Shawn Kerrigan, COO and Co-Founder at Plus.
Hyundai Motor and Plus have released a video highlighting their collaboration, which can be seen here: https://www.youtube.com/watch?v=_d19h_v7abo.
About Hyundai Motor Company
More information about Hyundai Motor and its products can be found at: https://www.hyundai.com/worldwide/en/ or Newsroom: Media Hub by Hyundai
About Plus
For more information, visit http://www.plus.ai/.
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Artificial Intelligence
GIGABYTE Showcases AI and User-Friendly Innovative Technology at COMPUTEX 2024
TAIPEI, May 22, 2024 /PRNewswire/ — GIGABYTE, the world’s leading computer brand, is poised to captivate audiences at this year’s COMPUTEX with its latest offerings. From user-friendly designs to groundbreaking advancements in AI, visitors can expect a truly immersive experience across GIGABYTE and AORUS product lines such as motherboards, graphics cards, gaming monitors, and gaming laptops. As the world enters a new era of AI, GIGABYTE’s presence at COMPUTEX hints at exciting developments in the realm of AI, promising visitors a glimpse into the future of computing.
GIGABYTE will showcase cutting-edge features across its product lineup at COMPUTEX 2024. The AI Laptops including AORUS 17X and AORUS 16X steal the spotlight with the exclusive GIGABYTE AI Nexus, featuring three functions including AI Boost, enhancing performance as per specific scenarios, AI Generator for quick startups with generative AI utilities, and AI Power Gear that intelligently conserves battery life by optimizing power consumption. Additionally, the GIGABYTE GeForce RTX 40 SUPER series graphics cards are engineered to provide intense gaming and reliable AI computing power across a diverse range of applications. Complementing these advancements, the OLED Monitor series such as AORUS CO49DQ, integrates AI algorithms to introduce OLED CARE, including six key features designed to minimize burn-in risks on OLED screens and extend the screen’s lifespan.
In terms of user-friendly designs, GIGABYTE presents innovations like the EZ-Latch and Stealth Design on motherboards, streamlining PC assembly with quick and convenient installations while ensuring a clean appearance through efficient cable management. The LCD Edge View across various components like AORUS GeForce RTX 4080 SUPER MASTER enables real-time monitoring of PC performance and customizable display options. Furthermore, the GIGABYTE Arm Edition gaming monitors are equipped with ergonomic monitor mounts designed to cater to various usage environments from PC gaming, console gaming, to even streaming media, realizing the true 4K entertainment. Within the GIGABYTE OLED Gaming Monitor series, the Tactical Switch feature optimizes gaming by instant switching to a 24-inch size, 1080p resolution with a single click, specifically designed for first-person shooter games.
Additionally, GIGABYTE is proud to showcase multiple Red Dot 2024 award-winning products, including the Z790 AORUS XTREME X, Z790 AORUS MASTER X, Z790 AORUS PRO X, X670E AORUS PRO X motherboards, AORUS FO32U2P, GIGABYTE MO34WQC2 gaming monitors, and AORUS C400 GLASS gaming chassis. For more information, please visit the official GIGABYTE website at: https://bit.ly/GIGABYTE_COMPUTEX_2024
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