Healthcare AI Guy Weekly Newsletter | 8/29

Our Picks ✨

Highlights if you’ve only got 2 minutes…

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Nvidia posts $6,000,000,000 in profit

Nvidia just reported Q2 2023 earnings and posted substantial gains for what Wall Street called ‘guidance for the ages.’ At a very high level, Nvidia provides the ‘picks and shovels’ to the AI industry. The company surpassed $6B in profit, due to the surge in generative AI. Key details below:

• Q2 ‘23 total revenue: $13.5B (+88% q/q; +101% y/y)

• Q2 ‘23 data center revenue: $10.3B (+141% q/q; +171% y/y)

• Q2 ‘23 income: $6.2B (+203% q/q; +843% y/y)

• Nvidia crushed estimates, raised guidance, and announced $25B in share buybacks

• The primary driver of income came from the data center business which overshadowed gaming revenue (profit leader up until now)

• The data center business focuses on providing the chips—A100 and H100—essential for developing and running AI applications, such as ChatGPT

• Profits are a direct result of a strategic decision NVIDIA made in 2018 to go all in on AI, with CEO Jensen Huang highlighting the potential for growth due to the transition from traditional data storage to accelerated data storage using AI

Nvidia's success in the AI domain underscores the industry's potential and the growing dependence on AI tools and infrastructure for future tech developments. The type of growth at this scale is unprecedented! (link)

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Epic and Microsoft expand collaboration to integrate AI in the EHR

Epic and Microsoft announced an expanded collaboration focused on integrating AI tools in the EHR system. The companies want to ‘rapidly deploy dozens’ of AI technologies, including clinical note summarization, medical coding suggestions, and data exploration tools that aim to fill gaps in clinical evidence by using real-world data. Looks like Epic and Microsoft are combining their capabilities and leveraging their scale to save clinicians time while grabbing as much market share as possible... (link)

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AI used to restore people’s voices

Studies are using brain implants to help people who can’t speak communicate again. The algorithm-trained devices recognize a person’s attempt to talk and turn thoughts into words using an avatar.

A woman who had been left without motor control from a stroke 18 years ago—could communicate with 95% accuracy.

Another woman wasn’t able to speak due to a neurological disease but her brain was still sending signals of her intent to talk. Researchers trained an algorithm to recognize her attempts to speak and decoded the attempted speech at the rate of 62 words per minute, with a 24% word error rate.

In the future, companies may be able to develop portable systems that synthesize speech and let the user have full control and AI will continue to help us get there. (link)

Miscellaneous 🔍

News, podcasts, blogs, tweets, resources, etc…

• Kaiser Researcher: AI tool has prevented 500 deaths (link)

• Where generative AI can make headway in healthcare (link)

• Boston researchers looking at LLM AI chatbot making clinical decisions, diagnoses (link)

• Study shows potential of using NLP tech to extract SDOH info from clinical notes (link)

• US court rules: AI not eligible for copyright protection (link)

• Talkdesk joins Epic’s Partners and Pals program (link)

• 1,000+ companies across numerous industries discussed AI in their quarterly reports, compared to 40 between 2015 and 2016 (link)

• Meta unlives all-in-one AI model for speech and text translations (link)

• DeepMind claims you can improve a model by training on its own output (link)

• NYU experiments with ChatGPT (link)

Deal Desk 💸 

Spotlight on latest capital raises, M&A and investments…

📈 Aily Labs: a provider of pharma-focused decision analysis software based in Munich, Germany raised $20.7M in Series A funding. Insight Partners led the round. (link)

📈 Tausight: a developer of data security tools for personal health information based in Burlington, MA raised $6M. Polaris Capital led the round and was joined by Flare Capital Partners and .406 ventures. (link)

📈 LighthouseAI: a provider of pharma supply chain compliance tools based in Los Angeles, CA raised $2.3M in seed funding. Healthy Ventures led the round. (link)

Tool Box 🧰

Latest on business, consumer, and clinical healthcare AI tools and partnerships…

🔧 Banner Health + Nference: Banner Health partnered with Nference, a biotechnology software company, for better access to analytics focused on driving scientific discoveries to improve treatment, diagnosis, and care. (link)

🔧 Innovaccer: Innovaccer, a Big Data company focused on value-based care, unveiled a new four-product suite aimed to cut workloads, automate workflows, generate insights, and support decision-making. (link)

🔧 Logmeals: Log meals with your phone camera and let our AI nutritionist count your calories for you. (link)

🔧 Include Health: A digital platform for musculoskeletal (MSK) providers to deliver hybrid care. (link)

AI Images of the Week 📸

Funny memes and pics from around the web…