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AI/ML Innovations Inc. Completes Acquisition of Technology from Naiad Lab Inc.
Highlights: AI-driven Strategic Assets: Acquired Assets Include Advanced Neural Net Healthc...
About this update from Aiml Innovations Inc
[{"type":"text","content":"AI/ML Innovations Inc. Completes Acquisition of Technology from Naiad Lab Inc.Highlights:AI-driven Strategic Assets: Acquired Assets Include Advanced Neural Net Healthcare Technologies. VICTORIA, BC / ACCESSWIRE / June 17, 2024 / AI/ML Innovations Inc. (\"AIML\" or the \"Company\") (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB), a leading company committed to acquiring and advancing Artificial Intelligence/Machine Learning technologies that address urgent societal needs, is pleased to announce the completion and signing of a definitive agreement, dated June 3, 2024, for the asset purchase of cutting-edge technology from Naiad Lab Inc. The acquisition marks a significant milestone in AIML's strategic growth and innovation roadmap.As previously announced by the Company on May 2, 2024, the acquired technologies include:A proprietary Long ECG Neural Net (L-ECG NN) for Cardiovascular InsightsThis advanced solution provides detailed beat-to-beat labeling for ECGs of any duration, up to and including 48 hours, covering approximately 170,000 labeled heartbeats. This enhanced level of detail enables further neural network processing to uncover critical insights and events related to cardiovascular disease and other ailments.The Neural Network Store (NNStore)A subscription-based online neural net store that allows device company developers and researchers to upload files for analysis by various AI systems.Paul Duffy, CEO of AIML Innovations Inc., stated, \"The acquisition of Naiad Lab's technology is a significant step for AIML. It not only strengthens our portfolio, but also positions us at the forefront of biometric measurement innovations.\"Esmat Naikyar, CEO of Naiad Lab, added, \"Our mission is to leverage state-of-the-art neural networks to deliver actionable health insights. The Long ECG Neural Net fits that model perfectly as it provides near instantaneous actionable feedback to the healthcare provider.\"The salient points of the acquisition include:AIML has purchased 100% of Naiad's Long ECG Neural Net, 100% of Naiad's Neural Net Store & NNaaS, and access to certain contracted services to be provided by Naiad's management and technical team on an ongoing basis under separate employment/consulting agreements (collectively, the \"Assets\").AIML issues 6,700,000 Common Shares from its Treasury to Naiad, (currently valued at $335,000), as ful...