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InteliCare recently won a grant of A $ 100,000 (approximately $ 77,000) from the Smart Sensor Network in NSW to boost its machine learning capacity. She won the scholarship with her partners at Macquarie University and the University of Sydney.
The included aged care technology developer on a one-year project will work with NSSN and the computer science units at the two universities.
What is it about
In a company disclosure, InteliCare said it has formed a multidisciplinary research team that includes experts in the Internet of Things, machine learning, business analytics, aging and health.
The team will build machine learning algorithms to “predict and prevent events potentially affecting the quality of life of the elderly.”
why does it matter
Thanks to the new money, InteliCare can accelerate its machine learning capacity. The company was focused on spotting events, rather than forecasting.
The resulting product will raise the accuracy of InteliCare’s AI technology in predicting the risks of chronic disease and deteriorating mental health, leading to loss of independence, injuries, infections and dementia.
“The project will result in an improved notification system that enables caregivers and online operators to have a better understanding of when to intervene,” said Jane Evans, MedTech Leader at NSSN.
InteliCare said it will own the intellectual property of the product, which it said will “provide a significant competitive advantage over outdated assistive technology, especially wearable or alarm devices”.
In addition to the NSSN funds, InteliCare will contribute AU $ 152,898 (approximately $ 118,000) in cash and universities will provide AU $ 161,021 (approximately $ 124,600) in in-kind support.
The biggest trend
In a recent report by a non-profit research group Global Center on Modern Aging It recommended, among other things, that the Australian healthcare industry should acquire grants “to fund assistive technology and home modifications that enhance independence in everyday life.”
According to Jason Waller, CEO and Managing Director of InteliCare, there are potential returns from new predictive technologies, particularly through the Australian government’s investment in 7.5 billion Australian dollars ($ 5.8 billion) for home care for the elderly.
In separate news, Intelicare has received binding commitments Raised 2.5 million Australian dollars From new and existing investors earlier this month.
On the record
“This funding is an excellent opportunity to work with a world-class machine learning team in a very cost-effective way. From the start, InteliCare’s strategy has been not only to use AI to detect critical events, but to harness our data to predict events to prevent them. [from] That happens in the first place, “Intelicare’s Waller stated.
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