Business
Brand Engagement Network (NASDAQ: BNAI) Expands Global Footprint As It Secures $5.9M in Private Placement Financing And Enters $50M Standby Equity Purchase Agreement
--News Direct--By Anthony Termini, BenzingaBrand Engagement Network (NASDAQ: BNAI) (BEN), which creates artificial intelligence (AI) solutions for consumer
About this update from Brand Engagement Network Inc.
[{"type":"text","content":"--News Direct--By Anthony Termini, BenzingaBrand Engagement Network (NASDAQ: BNAI) (BEN), which creates artificial intelligence (AI) solutions for consumer engagement using human-like avatars as the interface to communicate with customers, hit multiple milestones recently Early in September, the company entered into an agreement with IntelliTek Health. IntelliTek Health is a subsidiary of SmarTek21 and creates solutions for virtual assistants that interact with medical patients. It develops clinical and patient-facing tools and focuses exclusively on bringing AI-enabled productivity and services to the healthcare industry.What The IntelliTek Deal Means For BENThe agreement grants BEN a worldwide license to provide AI-driven solutions to support healthcare operations and optimize patient engagement throughout the United States, Australia, New Zealand, India and Europe.Together, BEN and IntelliTek will offer a suite of AI-driven healthcare solutions to support and execute a broad range of tasks and operations that serve both medical professionals and patients. The agreement is intended to seek synergies in the strengths and solutions of both companies.Brand Engagement Network will combine its Healthcare AI Assistant, Sandy – which serves as a direct interface resource for patients – with IntelliTek’s Personal Virtual Assistant (PVA). Sandy can help patients schedule appointments and obtain up-to-date information on prescription drugs. The IntelliTek PVA is part of a collaboration with Samsung Mobile Solutions and other leading U.S. and multinational telecommunications companies.The deal also combines BEN’s AI technology with IntelliTek’s Clinical Virtual Assistant (CVA). The CVA is specifically designed for clinical teams looking to reduce their administrative burden. BEN reports that it has been shown to improve administrative efficiency by up to 50%, creating the opportunity to improve patient throughput by up to 17%.Another solution rolled into the agreement is IntelliTek’s hands-free and voice-enabled Document Search AI. This device-agnostic tool can quickly and securely search for and retrieve specific medical information in real time from many different document formats sourced from a wide variety of different repositories.Martyn Molnar, Chief Executive of Products at Intellitek Health, says that the “cooperation with BEN wi...