In the clinical world, the technological improvements have paved the easiest way in the diagnosis of zillions of diseases including brain tumors and other harmful diseases. Global artificial intelligence market has been accounted for $15.70 billion in the year 2017 and is expected to reach $300.26 in the year 2026. The growth of AI is expected to grow at a CAGR of about 38 percent during the forecast period.
Various vendors and academic centers have developed an array of artificial intelligence networks to provide the best clinical decision support in neuro networks. In order to overcome the incoherent limitations in the diagnostic field, researchers are involved in coding AI programs to overcome expert human reasoning.
Many AI-based companies have involved in contributing to overcome medical complications and clinical diagnosis. RenalytixAI is one of the UK-based AI developers that provide clinical diagnostics for kidney-related diseases. Recently, RenalytixAI announced that it had raised a fund of about $29 million.
After the completion of fundraising in November 2018, the company started to trade with one of the markets in the London Stock Exchange. In May 2018, Icahn School of Medicine at Mount Sinai collaborated with RenalytixAI to begin commercialization and product development in 2019. The collaboration lets the company become a shareholder of RenalytixAI.
Diagnosis and treatment for kidney-related diseases are costly when compared to other chronic disorders. RenalytixAI is focused on using the funds on two categories. It has decided to develop and commercialize the factors related to early detection of kidney disease and management of kidney transplant rejection. The solution from the company provides clinical care, improvements in diagnosis and prognosis, and drug target discovery.
KidneyIntelX™ is the first diagnostic product from the company in order to submit the regulatory view by the U.S. Food and Drug Administration as AI’s updated devices provide an easy diagnosis that helps a physician to access different test results including health data and predictive blood-based biomarkers from various sources. The AI-programmed clinical diagnostics check the test results using diverse data collected from the patients. With the data collected, the company predicts the disease progression of the patient and the necessary drug response.