The many ways AI is shaping the future of healthcare

Image source: lawandfuturetechnology.lawschoolblogplatform.com

Poised to become a transformational force in the healthcare industry, artificial intelligence is shaping the future of medicine. Scientists, doctors, mathematicians, clinicians, and engineers are working together to compile data and develop machine-learning research.

The mortality rate has been reduced as AI assists and improves healthcare practices. This is the outcome of the processes of disease prevention, accurate and effective treatments, and lessons from previous knowledge. Integral to these steps is the evaluation of outcomes and processing of data. Through the introduction of systems clinicians can access by means of AI, urgent medical cases can be prioritized. Playing a bigger role in medical care, AI can also assist in recommending individualized treatments.

Fast and precise diagnoses are available, as systems are ready to mete medical advice to patients, whether in a medical facility or at home. Artificial intelligence can take over some of the diagnostic duties usually assigned to humans to mitigate the grave deficit of qualified clinical staff, especially in developing nations.

Image source: aexonic.com

More and more smart medical devices and machines are being fabricated, as these are crucial for monitoring patients in the ICU and remotely. AI enhances the ability of a device to identify deterioration and the onset of sepsis and locate complications.

Immunotherapy for cancer treatment has been a significant beneficiary of AI methods. It is the most promising method for treating cancer. Patients may be able to beat stubborn tumors by using their body’s own immune system to assault malignancies. However, more patient data is needed to confirm the effectiveness of the relatively new treatment method.

Alex J. Ness is the Executive Chairman and Co-founder of Welwaze Medical, Inc., a health tech company that develops external sensors which allow users to monitor their health. Artificial intelligence is at the core of the company’s development. For more updates on artificial intelligence, visit this blog.

Signs of a bad investment

Image source: thefiscaltimes.com

 There is no such thing as a “sure gain” in the world of investments. Any investment can always go south, even if it looks promising in the beginning. While this might be the case, there are telling signs an investment is showing its true colors.

Quick decisions are required. If an investment forces you to make a quick decision as an investor because it is only a “limited time offer,” then you shouldn’t put your money on it. You should have full control when you invest, and researching about an investment takes a lot of time and effort. To keep it short: don’t invest on something that sounds shady and desperate.

Image source: moneycrashers.com

Falling behind on industry trends. If you’re looking at a company in which to invest, make sure that they are doing the necessary measures to stay relevant. You don’t want to bet on a company that lags behind.

If it is “hot” at the moment. It might sound appealing, but once a stock is described as “hot” or in trend, you might already be too late for it. In fact, once it has been tagged as such, it is probably on the verge of bursting.

Get-rich characteristic. If an investment uses greed as a selling point, then do your best to stay away from it. Investment scams are known to boast quick and hefty potential gains, usually promising double returns in as short as three months.

With a degree in Business Administration and an MBA in International Business Management, Alex J. Ness is skilled in wealth management, investment, and private banking. For more articles about investment and finance, visit this page.

How private equity works

Image source: news.efinancialcareers.com

The private equity industry plays a huge role now in the financial market.  Even the largest corporations in the U.S., including those in the Fortune 500 list, develop strategies in wealth building through private equity.

Back in 1946, two venture capital firms, American Research and Development Corporation (ARDC) and J.H. Whitney & Company, were established.  WWII has just ended, and it was a financially difficult time for entrepreneurs and business owners who had been enlisted in the war. 

Both companies had an objective of sourcing and pooling funds from wealthy families, in addition to the money the founders had put in themselves.  ARDC sought to help returning soldiers who had businesses by encouraging private sector investments in them.  Meanwhile, J.J. Whitney & Company sought to help entrepreneurs who were unwelcome at banks by financing their projects or ventures.

Before WWII, private equity investments had primarily been made by wealthy individuals and families.  But the successful business models of the two aforementioned companies opened the door for private equity businesses. 

Image source: corporatebytes.in

Now, there are countless private equity firms.  They practice a diverse range of strategies, but the fundamental process remains the same: funds are raised to create a limited partnership with companies that are typically not listed in the public stock exchange.  The company would then be restructured or reorganized so that value can be added to it, which would help the private equity firm net returns from the venture.

Alex J. Ness is the founder and CEO of Domus One Group, a private equity firm that provides fully integrated real estate platforms for investors, buyers, sellers, and developers. Read more discussion about the industry by visiting this blog.

Covering the basics of wealth management

More than just a premiere source of investment advice, wealth management has the capability to encompass all parts of an individual’s financial life. It is referred to as a high-level professional service, combining financial and investment counseling, retirement planning, accounting and tax services, and legal or estate planning for a single set fee. 

Image source: medium.com

A client works with one wealth manager whose job is to coordinate input from financial experts, and may also include coordinating advice from their client’s personal attorney, accountants, and insurance agents. Other wealth managers deliver banking services or guidance on philanthropic pursuits. The concept for this type of service is to consolidate pieces of advice and different products provided for by a series of professionals into a single wealth manager. High net worth individuals benefit from this holistic approach. 

All the services needed to manage a client’s wealth are rolled into one, and it presents an advantage in planning and managing money to plan for a client and their family’s current and future needs. Wealth managers still have their specializations even when their profession relies on the theory that they can provide services in any given area of the financial field. This could be dependent on the expertise of a wealth manager, of the primary focus of the business wherein the wealth manager operates. 

Small-scale businesses and large firms that are generally part of the finance industry employ wealth managers. At times, wealth managers function under different titles, which includes financial advisor or financial consultant. Clients may receive services from an individual designated wealth manager or have access to members of a particular wealth management team. 

Image source: abc-mallorca.com

Alex J. Ness has years of experience in the areas of private banking, wealth management, and investment. In the past, he established, co-founded, and worked with different companies. For more updates from Alex J. Ness, click here.

The Growing Impact Of Artificial Intelligence In Everyday Lives

Only about a decade ago, most of the devices and gadgets that are now considered part of everyday goings-on were not around: from smartphones and fitness wearables to HD-resolution medical scanners and SSD cards. The advent of digital technology and global access to the internet have paved the way for the increased role of artificial intelligence in modern society.

Image source: nmims.edu

Indeed, AI devices are changing both the way people look at leisure and how businesses are conducted. AI has had a huge impact on various industries, from gaming and real estate to the automobile and healthcare industry. AI has given rise to various Internet of Things or IoT technologies, virtual and augmented reality property tours and improved patient data interpretation. Pretty soon, self-driving cars will be hitting the road.

The rise of AI technology aids in streamlining business operations, enhancing products offerings, and improving customer support. Industries are benefiting from AI’s ability to offer better analytical systems and interpret larger data sets. Efficient banking experience, speedier freight services, better GPS tracking to combat fraud—the benefits of AI are endless.

All in all, AI systems are making the words “efficiency” and “convenience” synonymous with modern living. Mundane work can be delegated to AI devices; people are freed up and can focus more on higher-level cognitive tasks to improve relationships, work output, and generally gain more time for, well, being human.

Image source: intel.com

Alex J. Ness has years of experience in the areas of private banking, wealth management, and investment. He is the Executive Chairman and Co-founder of health tech company Welwaze Medical, Inc. More on Alex’s work and interestshere.

The Core Components Of An AI System

The ability of artificial intelligence to mimic natural intelligence, or the cognitive functions that are associated with human minds, sets it apart from other computing systems or similar machines.  This function requires the following core components before it can be considered “artificial intelligence” :

Machine learning

Probably the capability that best characterizes AI, machine learning is defined as the ability of an automated system to solve problems, adapt to new circumstances, and to detect and analyze novel patterns, without having to be programmed to do so.

Image source: infoworld.com

Natural language processing

An AI should have the ability to understand and communicate with people or other machines.  It then has the ability to learn how to process human language, which includes recognition and generation of such language.  It is not enough for the system to understand and act on pre-programmed commands, an AI’s natural language processing needs to evolve, much like that of a human’s.

Knowledge representation and reasoning

Humans create a “mental map” of what they perceive in the real world and the context behind them.  AI systems must also consist of knowledge representation and reasoning capabilities so that they can make sense of complex information, including queries or observations, infer new facts, and store these in their knowledge base.

Image source: techhive.com

AI is at the core of Welwaze Medical, Inc.’s development. The company develops external sensors that would allow users to monitor their health, for which they have raised approximately $11 million in funding. Alex J. Ness serves as the firm’s Executive Chairman. Read more about AI technology by subscribing to this blog.

How To Measure Roi On Technology Investments

Companies invest in technology – whether on new equipment or IT-related investments – with hopes of positive returns. But first, there’s a need to measure return on investment (ROI) as these investments gobble up time, money, and various resources in the organization. Here are some ways to measure properly and effectively.

Image source: Pixabay.com 

Simply put, ROI = net gain/cost. For instance, one spends $100 and makes $150. The net gain is $50. Following the equation, the ROI is 50 percent. In assigning the costs and benefits, many of the numbers will be guesses as well as approximations, and there will be alternate scenarios needing to be considered along the way. For example, if the staff saves time by 20 percent due to IT, how does that figure in the equation?

Costs can include money, time, disruption, as well as opportunity. Opportunity cost pertains to the missed chance of doing something else that might have made or saved money for the organization. It’s also important to add in the costs of training and support, as well as the proper disposal of the old technology.

The financial benefits of IT investments can fall into several buckets, including revenue enhancements, cost reductions, cost avoidance, capital reduction, and capital avoidance. Technology can definitely pave the way for new or more revenue streams along with a greater reach of the company’s services. Its tools can free up employee time and energy for more profitable, value-adding work, and improve overall quality services to clients.

Image source: Pixabay.com

Note that some ROI analysis may not fully capture these benefits, and thus need to tweak the equation for greater accuracy and comprehensiveness in results.

Alex J. Ness has years of experience in the areas of private banking, wealth management, and investment. He holds a degree in Business Administration, with focus on finance and management, and obtained his MBA at the American College of Switzerland, concentrating on International Business Management. More articles like this here.

Better Breast Cancer Diagnosis Through Ai

In the recent years, the diagnosis and treatment of breast cancer have taken huge steps, all due to many ongoing studies toward its improvement. Treatment and diagnosis are more advanced than before and have gotten more accurate, leading to better results in patients.

Early detection and treatment are displayed to lead better outcomes for women with cancer, yet precisely detecting and diagnosing breast cancer stays extremely challenging. An x-ray of the breasts, or a mammogram, is used by clinicians to determine cancers early, but breast screening is not exact. Per year, thousands of cases are not picked up by mammograms, which include 30 percent of cancers that develop in the middle of screenings, while instances of overdiagnosis or false alarms are usual.

Breast cancer is the most common type of cancer among women around the world. It is also the most diagnosed cancer in women and the second leading cause of death in women in the United States. A woman is diagnosed with breast cancer every two minutes, and every 13 minutes, one woman dies from it.

Image source: Chicago.suntimes.com

Having these facts in mind, Welwaze Medical, Inc, has developed Celbrea TMD, which is a safe, reliable, and affordable way to routinely monitor for breast abnormalities, including breast cancer. It is a non-invasive test that can be used for breast self-exams at home when prescribed by doctors. Celbrea TMD was developed and designed to help detect breast diseases by recording the temperature differentiation between corresponding areas of the left and the right breasts.

Alex J. Ness is the Executive Chairman of Welwaze Medical, Inc, a health tech company that develops external sensors that allow users to monitor their health. Since 2016, Welwaze has acquired intellectual property for its revolutionary early breast cancer detection device. For more articles like this, follow this page.