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Spacetalk (ASX:SPA), a company that produces app-linked devices similar to Life360 so parents can track kids, or, whether or not elderly relatives have fallen – is now, no surprise, dabbling in artificial intelligence.
That AI licence comes from Neuroscience Research Australia (NRA) which Spacetalk is calling ‘Watch Walk AI,’ a program that ultimately uses a wristborne smartwatch device to detect changes in gait of the user.
For elderly relatives living on their own or unattended for periods at a time, the value proposition is obvious – being able to inform emergency services following a potentially catastrophic fall event, or at worst, race back home.
The adoption of NRA’s AI tech is a logical move: the company, tied into the NDIS procurement backend, is already familiar with senior-facing products.
The fall detecting AI code was reportedly designed by a mix of NRA researchers and experts at UNSW. The tech will also underpin Spacetalk’s recently revealed goals to launch ‘Spacetalk 2.0’ – a rejigged “data technology architecture” plan.
The Watch Walk AI product will be available amidst Spacetalk’s existing SaaS business model.
Most importantly, Spacetlak is hopeful this can make it profitable – another company banking big on small AI.
“This intellectual property licence will assist to drive momentum in Spacetalk’s transformation from a loss-making kids’ wearables business to a high growth data led predictive analytics, subscription software business as a result of the proposed launch of the new SaaS and Subscription App products,” the company wrote, apparently in contradiction of its well-fleshed-out website suggesting Spacetalk has much to do in the senior product space.
Spacetalk CEO Simon Crowther is bullish that by assessing a user’s gait, the AI will be able to detect other health problems.
(This finance journalist can’t help but wonder if that’s a little optimistic.)
“The way people walk, and move is a predictor of their health. The Watch Walk AI algorithm will make it possible to analyse gait and other data from Spacetalk wearable devices to predict health risks, enable timely care, and assist Spacetalk customers to preserve and improve their health,” Crowther said.
SPA last traded at 25cps.
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