- InteliCare Holdings (ICR) has been granted $100,000 from the New South Wales Smart Sensing Network (NSSN)
- The funding will help fund a one-year project with a multi-disciplinary team from the University of Sydney and Macquarie University
- Researches will help further develop machine learning algorithms to predict and prevent events that are likely to impact on the quality of life of the elderly
- These product features will extend InteliCare’s artificial intelligence (AI) accuracy at predicting risks of chronic disease and mental health deterioration
- On the market, InteliCare is down 1.92 per cent and is trading at 25.5 cents per share
InteliCare Holdings (ICR) has been granted $100,000 to further develop its machine learning capability.
The funds were granted by the NSW government’s New South Wales Smart Sensing Network (NSSN), following the company’s partnership with the University of Sydney (USyd) and Macquarie University (MU).
The financing will help fund a one-year project with a multi-disciplinary team from USyd and MU.
Researches will be further developing machine learning algorithms to predict and prevent events that are likely to impact on the quality of life of the elderly.
These product features will extend InteliCare’s artificial intelligence (AI) accuracy at predicting risks of chronic disease and mental health deterioration.
“This funding is an excellent opportunity to work with a world-class machine learning team in a highly cost-effective way. From the outset, Intelicare’s strategy has been to not only use AI to detect critical events, but to harness our data to predict events so as to prevent them from occurring in the first place,” InteliCare CEO Jason Waller said.
“This is the first step on that journey and has significant potential to accelerate adoption of our technology. It can also provide additional revenue from value-added products, especially via the recently committed $7.5 billion to support older Australians to remain at home,” he added.
Notably, InteliCare is still negotiating terms with the universities and NSSN for a one-year joint venture project.
On the market, InteliCare is down 1.92 per cent and is trading at 25.5 cents per share at 3:06 pm AEST.