Issued on behalf of Avant Technologies Inc.
VANCOUVER – Baystreet.ca News Commentary – A new report from McKinsey is highlighting how fast Gen AI is accelerating change in healthcare and life sciences. Back in March, McKinsey put out a survey that found 85% of respondents (from a pool of leaders of payers, health systems, and healthcare services and technology (HST) groups) are actively exploring or already using the technology. According to its McKinsey Global Institute (MGI) arm, Generative AI could generate between $60-110 billion annually in economic value for the pharma and medical-product industries. The transition is rapid, with healthcare organizations running more AI pilots than ever. Now the tech sector is delivering more solutions to keep up the pace, with recent developments coming from Avant Technologies, Inc. (OTCQB: AVAI), OmniAb, Inc. (NASDAQ: OABI), CareCloud, Inc. (NASDAQ: CCLD, CCLDO), Spectral AI, Inc. (NASDAQ: MDAI), and Cognizant Technology Solutions Corporation. (NASDAQ: CTSH).
Big money is flowing into the AI in healthcare space, with Pittsburgh-based private startup Abridge AI Inc. recently raising US$300 million, accounting for a total company valuation of US$5.3 billion. Several other private companies are gaining attention in the space, but for the market at large, there is still plenty of activity happening with publicly traded stocks, as Statista projects the global AI healthcare market to surge from approximately $11 billion to $188 billion by 2030, representing a 37% compound annual growth rate.
Avant Technologies, Inc. (OTCQB: AVAI), in partnership with Ainnova Tech, is entering the final prototyping stage of a proprietary, automated retinal imaging device — marking a potential turning point in the companies’ shared push toward AI-powered early diagnostics. The new device is designed to operate hands-free and feed imaging data directly into the Vision AI platform, enabling near-instant risk reports without expensive equipment or trained personnel.
The companies say the camera, developed under their joint venture Ai-nova Acquisition Corp. (AAC), is expected to cost a fraction of legacy fundus cameras. By combining affordability with automation, the device could expand screening access across primary care clinics and emerging-market providers that have traditionally been priced out of ophthalmic diagnostics.
“The cost of a fundus camera has always been a barrier to entry in this market,” said Vinicio Vargas, CEO at Ainnova and board member of AAC. “Our low-cost camera, which is a fraction of the cost of currently available cameras on the market, should allow us to not only enter the market, but to capture a large share of the market.”
But hardware is only half the story. The new camera is being built to integrate seamlessly with Vision AI, Ainnova’s diagnostic platform that uses retinal imaging, vital signs, and basic lab inputs to assess risk for a range of diseases. Already in use across clinical sites in Latin America, Vision AI currently supports risk scoring for diabetic retinopathy, glaucoma, age-related macular degeneration, cardiovascular disease, type 2 diabetes, liver fibrosis, and chronic kidney disease.
“Another significant advantage will be that our camera will be seamlessly packaged together with our Vision AI platform, allowing us to refer more patients in less time and accurately to medical specialists,” added Vargas. “Also, one of our objectives is to integrate other technologies to this preventive screening, expanding the scope from only diabetic patients to patients who have other risk factors and want to prevent other diseases from a more complete approach.”
The development comes at a critical time for Avant, which is in active talks to acquire Ainnova outright — a move that would consolidate leadership, simplify operations, and unify the companies under one roof ahead of a planned FDA pre-submission meeting scheduled for next month. The two companies already operate jointly through AAC, which holds global licensing rights to Ainnova’s technology portfolio and serves as the commercialization engine for Vision AI and all future device deployments.
While Vision AI remains compatible with third-party imaging equipment, the decision to design proprietary hardware marks a strategic shift toward product exclusivity — giving Avant greater control over the end-to-end user experience and enhancing its defensibility in a competitive early diagnostics landscape.
Also in development are additional platform modules, including a patented dementia detection tool that combines a five-minute blood test with AI-trained algorithms. Although that technology remains in evaluation, the core platform continues to expand its reach and functionality — evolving from a retinal-focused application into a broader engine for predictive healthcare.
“Our purpose is to create the future of early disease detection in an accessible way, so that patients can get a preventive check-up anywhere, at a low cost, and easily,” said Vargas in a previous statement. “We want to prevent patients with risk factors from developing other diseases that could have been avoided before they became a real problem. To this end, we are seeking to integrate new technologies into our portfolio within a single platform, both through our R&D efforts and through potential exclusive licenses or acquisitions.”
As the camera prototype nears completion, Avant is positioning itself for broader market entry. While a launch date has yet to be announced, the integrated platform is designed to reduce diagnostic friction, speed up referrals, and expand access to early-stage health insights — especially in geographies where affordability, not innovation, remains the primary barrier to care.
With hardware now entering the pipeline, software validated in clinical settings, and corporate consolidation on the table, Avant is no longer just building an AI model — it’s building a diagnostic system.
CONTINUED… Read this and more news for Avant Technologies Inc. https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
OmniAb, Inc. (NASDAQ: OABI), recently showcased its high-throughput xPloration® screening platform at the PEGS Boston Summit, emphasizing its use of artificial intelligence to streamline deep antibody mining. The platform screens 10x more single cells per day than traditional methods, uses laser-guided, touchless recovery, and analyzes immunized B-cell repertoires with AI-assisted image processing.
"Thorough mining of primary B-cells from immunized animals presents a major challenge in therapeutic antibody discovery," said Bob Chen, Ph.D., Vice President, Discovery Systems at OmniAb. "In contrast, the xPloration platform processes millions of single B-cells and recovers thousands of antibody variants within hours, achieving impactful results."
OmniAb’s proprietary animal models combined with xPloration enable the discovery of rare, fully-human antibody variants with improved developability. The company recently launched a Partner Access Program, allowing external labs to adopt the platform for in-house discovery campaigns.
CareCloud, Inc. (NASDAQ: CCLD, CCLDO) recently earned recognition from Maxim Group as the “Top Healthcare IT Pick for 2025,” with analysts highlighting its scalable AI strategy and undervalued multiple. The company’s AI suite—including cirrusAI Notes, Appeals, and Voice—is being integrated across documentation, billing, and patient engagement systems.
“AI is now deeply integrated into our operations—from documentation and revenue cycle management to patient engagement and analytics,” said Hadi Chaudhry, Co-CEO of CareCloud. “This is not an add-on, it is a foundational capability that is changing how healthcare is delivered and experienced.”
In April, CareCloud launched its AI Center of Excellence with over 50 engineers, and plans to scale to 500 by year-end. The firm also reported 52% year-over-year adjusted EBITDA growth in Q1 and resumed M&A activity, reinforcing its long-term growth narrative.
Spectral AI, Inc. (NASDAQ: MDAI) has announced that its DeepView® System achieved 95.3% overall accuracy in a newly published multi-center burn assessment study featured in Burns, a top journal in the field. The AI-driven platform uses multispectral imaging and predictive algorithms to evaluate burn depth and healing potential.
“By providing clinicians with data-driven insights, DeepView empowers earlier decision-making regarding healing time and the necessity of surgical debridement, ultimately improving patient outcomes,” said Chris Lewis, lead author of the study featured in Burns. “The technology is not only innovative but also has the potential to revolutionize burn care on a global scale.”
Researchers highlighted the device’s ability to accelerate clinical decision-making, improve outcomes, and reduce reliance on subjective assessment.
Cognizant Technology Solutions Corporation. (NASDAQ: CTSH) recently earned top honors from Pegasystems as the 2025 Partner of the Year, spotlighting its role in advancing AI-powered enterprise transformation. The collaboration combines Cognizant’s consulting depth with Pega’s platform to help global businesses streamline operations and elevate customer experiences.
"Our clients aren't just seeking tools, they're seeking transformation," said Roshan Subudhi, Global Sales and Practice Lead of Enterprise Platform Services at Cognizant. "Whether it's redesigning customer journeys with AI or reengineering core processes through automation, the path forward demands a combination of platform innovation and domain expertise."
As a Global Elite Partner, Cognizant delivers advisory, development, and managed services across the AI and automation lifecycle. Analysts continue to rank Cognizant as a leader in intelligent process automation and next-gen AI innovation.
Source: https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
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