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It’s fairly commonknowledge that our data is being used to learn and predict humanbehavior, often to the benefit of the companies who aggregate andanalyze this data. But can these diverse data sets be applied withinhealthcare to help drive innovation and improve patient care?
The medical diagnostictechnology company Know Labs Inc. (OTCMKTS: KNWN) is one suchcompany that plans to leverage patient data to improve how patientsand physicians manage specific conditions and enhance modernpractice.
Data Science — Bringing Advances To Patient CareAnd Diagnosis
Data by itself may not necessarily always be useful knowledge.But it’s being successfully integrated with domain knowledge toanalyze big data, a practice better known as data science.
What makes data sciencein the healthcare industry important is that current and traditionalstudy design and analytical approaches can sometimes be inadequatewhen taking on an unprecedented volume of large and unstructureddatasets. Data science looks for new and increased knowledge,enhancing a more precise patient-focused medicine approach leading tomore cost-effective drug discovery and advances in patient outcomes,care, and delivery of care. In general, it can be applied across amyriad of health care use cases.
Large pharmaceutical companies and research anddevelopment hubs like Merck & Co. Inc. (NYSE: MRK) and theMayo Clinic are increasingly analyzing vast amounts of data to gainnew insights.
Some of the world’s technology giants are also joiningtraditional medical research hubs to purchase new artificialintelligence (AI) startups. Those tech companies include NVIDIACorp. (NASDAQ: NVDA) and Alphabet Inc. ’s (NASDAQ: GOOGL)Google and DeepMind Health AI service, which is being implemented inthe United Kingdom National Health Service’s practice of alertinghealthcare workers in the event hospital patients become at risk foracute kidney injuries.
This advancement in data science is also reportedly helpingresearchers better understand how a disease behaves on a much morerapid timeline, including how scientists have studied SARS-CoV-2 andCOVID-19 viruses. Scientists now know much more about how the virusinfects the body, its treatment and the risk of severe disease becauseof the data sharing that has taken place among global researchers.
At anothercompany, Johnson & Johnson (NYSE: JNJ), these rigorousmethods may eventually help improve treatments for — and potentiallyintercept the onset of — many deadly diseases. The company isleveraging data science in its clinical trials for lung cancer andpulmonary arterial hypertension and diversifying its clinical trials.
Know Labs Inc.is working specifically to advance the practice of blood glucosemonitoring in diabetes patients by offering what it believes will bethe first genuinely non-invasive U.S. Food and Drug Administration(FDA)-cleared device. Tens of millions of people in the US sufferingfrom diabetes may soon see assistance with some of the challenges,pain and expenses associated with managing their condition.
The Seattle-basedcompany looks to provide medical-grade and cost-effective solutionsfor people with type 1 and type 2 diabetes, people with prediabetesand people without diabetes who are interested in monitoring theirblood glucose levels.
Upon achieving FDA clearance, the company says it plans toexpand its patented technology platform, Bio-RFID, to other medicaldiagnostic applications, including detecting and measuring levels ofketones, alcohol, metabolized drugs or other substances in the body.
Know Labs Uses Its AI Platform For Diabetes Patients
Know Labs recentlylaunched a new subsidiary, AI Mind Inc. (AIM), which is focusedon identifying opportunities to use the company's AI, machinelearning and proprietary algorithms, which control its Bio-RFIDplatform, enabling it to identify and measure blood glucose levelsaccurately and noninvasively.
Because of the development of the company’s AIengine, Know Labs states that it can process vast amounts of data toidentify properties or trends while also recognizing patterns — thisis viewed as an essential element of the company’s noninvasive bloodglucose monitoring devices. The Company published results frominternal tests demonstrating that Bio-RFID achieved a glucosemeasurement accuracy between 93% and 94% ( MARD6.7% ) when compared to fingerstick glucose measurements. KnowLabs’ product development team believes that continued developmentof its AI Engine and algorithms has the potential to further improveBio-RFID’s accuracy.
According to a study by FortuneBusiness Insights , the global healthcare analytics market sizeis predicted to reach $80.21 billion by 2026. The report highlightshealthcare big data as a vital factor in boosting the healthcareanalytics market revenue during the forecast period.
Contributions bycompanies like Know Labs could build a more integrated, affordable andhassle-free healthcare future, with enormous benefits for patient careand health management.
For moreinformation on Know Labs Inc., visit knowlabs.co .
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