PHG - Philips gets FDA nod for AI-based MRI software

• Royal Philips ( NYSE: PHG ) said the U.S. Food and Drug Administration (FDA) granted 510(k) clearance to its SmartSpeed artificial intelligence (AI)-based Magnetic Resonance (MR) imaging software.
• SmartSpeed increases resolution up to 65% and achieves up to 3 times faster scanning times compared to conventional MR scans, according to the company's July 12 press release.
• SmartSpeed adds advanced AI data collection algorithms to Philips' existing Compressed SENSE AI technology.
• The company added that the broad compatibility allows faster and high-quality scans for patients with various conditions including those with implants.
• SmartSpeed is has not yet received the CE mark in EU.

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