AI Eye Episode 405: AWS Selected as Cloud Provider by Moderna and RadNet Collaborating with Hologic on AI in Breast Health Solution

Point Roberts, WA and Vancouver, BC - August 6, 2020 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com), a global investor news source covering Artificial Intelligence (AI) brings you today's edition of The AI Eye - watching stock news, deal tracker and advancements in artificial intelligence.

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AI Eye Episode 405: AWS (NasdaqGS: $AMZN) Selected as Cloud Provider by Moderna (NasdaqGS: $MRNA) and RadNet (NasdaqGM: $RDNT) Collaborating with Hologic (NasdaqGS: $HOLX) on AI in Breast Health Solution

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Today's Column - The AI Eye - Watching stock news, deal tracker and advancements in artificial intelligence

Stocks discussed: (NasdaqGS:AMZN) (NasdaqGS:MRNA) (NasdaqGM:RDNT) (NasdaqGS:HOLX)

Amazon Web Services (AWS), a subsidiary of Amazon (NasdaqGS:AMZN), has been selected by biotech and messenger RNA (mRNA) medicines pioneer Moderna, Inc. (NasdaqGS:MRNA), as the latter's "preferred cloud provider, as well as its standard for analytics and machine learning workloads." Matt Garman, Vice President, Sales and Marketing at AWS, explained:

"Running on AWS, Moderna has the agility to continuously refine its research, development, and manufacturing. Moderna is relying on the proven performance and scale of the world's leading cloud to innovate and develop drug and vaccine candidates on timelines that may have been impossible even just a few years ago."

Diagnostic imaging services firm RadNet, Inc. (NasdaqGM:RDNT), and medical technology company Hologic, Inc. (NasdaqGS:HOLX), have "entered into a definitive collaboration to advance the use of artificial intelligence (A.I.) in breast health." Pete Valenti, Hologic's Division President, Breast and Skeletal Health Solutions, explained:

"We believe the future of breast health will rely heavily on the integration of A.I. tools, such as our 3DQuorum imaging technology, as well as next generation CAD software, that aid in the early detection of breast cancer. We are energized by the opportunities this transformative collaboration with RadNet creates for patients and clinicians alike. Access to data is critical in training and refining A.I. algorithms. With this collaboration, we now have the opportunity to leverage data from the largest fleet of high-resolution mammography systems to develop new tools across the continuum of care, provide workflow efficiencies, and improve patient satisfaction and outcomes."

Global AI Market to Reach $733.7 Billion by 2027

Research published by ReportLinker finds that the global market for Artificial Intelligence is expected to reach $733.7 billion by 2027, exhibiting a compound annual growth rate (CAGR) of 42.2 percent in the forecast period 2020-2027. An excerpt from the report summary outlines the role of AI in big data analytics:

Artificial Intelligence is becoming vital to big data as the technology allows the extraction of high-level and complex abstractions through a hierarchical learning process. The need for mining and extraction of significant patterns from high-volume information is driving the growth of artificial intelligence in big data analytics.

Furthermore, the technology helps in overcoming challenges associated with big data analytics, such as the trustworthiness of data analysis, format variation of raw information, highly distributed input sources, and imbalanced input data. Another challenge includes a lack of efficient storage and poor retrieval of information as it is collected in large quantities and made available across numerous domains.

Sam Mowers, Investorideas.com

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