10 Aug 2020, USA: Here are some grim statistics to consider. 10% of the US population has no health insurance, and another 30% are alarmingly underinsured. In 2019, health insurance costs reached an all-time high of $20,000-$30,000 per individual. US Healthcare experts also predict a shortage of 120,000 clinicians within the next decade. In the pharmaceutical sector, experts state vital procedures like new drug development are becoming increasingly difficult to sustain.
Artificial Intelligence (AI) and Machine Learning (ML) could help in these use cases. For example, AI and ML could perform tasks that doctors cannot, like analyzing large sets of data and recognize patterns too subtle to discern. In the pharma sector, AI can accelerate drug development timelines by enabling more precise identification of suitable drug targets and lead structures. AI is also used to predict the outcomes of laboratory experiments based on data and advanced analytics.
But to harness the power of AI-ML, pharma and healthcare organizations require data science experts who can also envisage the potential use cases, and drive them from proposal to implementation. That is precisely where the CapeStart + Ideas2IT partnership comes in. With both companies possessing rich AI credentials in the health and pharma domain, the partnership aims to provide high-quality AI solutions for enterprises and startups.
“According to a 2019 survey of 500 US healthcare executives from hospitals, health plans, life sciences organizations, and pharmaceutical and device companies, there is an 88% jump in the number of organizations implementing an AI strategy compared to 2018. We believe this partnership will help both companies ride on top of this trend,” said Murali Vivekanandan, Founder-CEO, Ideas2IT.
“Our potent mix of AI-ML capabilities, specialization in the pharma and healthcare domains, and strong credentials is just the starting point. CapeStart’s dedicated team of physicians, radiologists, and trained technicians in various medical ontologies and data formats help build training data for complex healthcare problems involving computer vision and natural language processing. We see this collaboration enabling numerous clients to harness the power of AI and ML,” said Gaugarin Oliver, Chief Executive Officer, CapeStart.
Founded by an ex-Googler, Ideas2IT started its journey as a high-end product engineering partner for Silicon Valley startups. Ideas2IT has produced 150+ top-quality applications for 100+ clients such as Microsoft, Oracle, Netsmart, and Oportun. The company works with a broad range of clients that includes Fortune 500 Companies, Universities, Non-Profit NGOs, and Universities. Ideas2IT offers specialist capabilities in the domains of Data Science, IIoT, Blockchain, Cloud-based SaaS, Robotic Process Automation, Frontend, Backend & Fullstack Development, and Intelligent Chatbots. To know more, email@example.com.
About CapeStart, Inc
CapeStart’s seasoned, skilled data analysts, data scientists, and software developers provide complex data annotation, machine learning, and AI model development, and software development services for web and mobile apps to enterprises in health care, finance, and other industries. CapeStart is headquartered in Cambridge, MA, servicing 100+ clients, and their trusted partners include many Fortune 1000 companies, including leading bio-pharmaceutical firms and healthcare providers. To know more, email firstname.lastname@example.org or visit www.capestart.com.