As a publicly-traded entity, Predictmedix (PMED.C) is only 4-weeks old.
So new it’s still bathed in amniotic fluid.
Despite this, the company has already hit some adult milestones.
PMED’s business objective: deploy artificial intelligence (AI) to disrupt impairment testing and healthcare.
Having a big dream is one thing.
Getting power-players to buy into your dream is another.
This morning, Predictmedix appointed Kapil Raval to be the Chairman of its Advisory Board. Kapil is currently a director at the $1.4 trillion Microsoft (MSFT.NASDAQ). Kapil will chair the Predictmedix’ Advisory Board, providing AI guidance.
In the last four weeks, Predictmedix has announced two partnerships with multi-billion companies.
On April 22, 2020 Predictmedix launched a pilot of its cannabis & alcohol impairment detection technology with Hindalco Industries (HINDALCO.NSE).
NSE is the leading stock exchange of India, located in Mumbai.
Hindalco is a $4.9 billion producer of aluminum and copper.
It has a workforce of 20,000 – most of them working in factories.
In an aluminum extrusion factory an impaired employee could easily lose life or limb – or bugger up a $95,000 sheet of aluminum – so Hindalco is motivated to identify employees-at-risk.
A National Institute on Drug Abuse Study found that employees who tested positive for cannabis had 55% more industrial accidents, 85% more injuries and 75% greater absenteeism. Employees using alcohol or drugs at work cost employers on average $7,000 per year.
For legal, practical, ethical and financial reasons, it is impossible to breathalyse or take blood samples from a large work-force daily.
Predictmedix’s tech uses facial and voice recognition to identify impairment. It does not require the testing of body fluids or human intervention, thereby removing human error and the potential for discrimination.
The Predictmedix pilot is starting at Hindalco’s manufacturing unit, Aditya Aluminum. The 12-week pilot will utilize Predictmedix’s proprietary AI powered impairment detection technology (patent pending) to identify cannabis and alcohol impairment.
“Industry 4.0 has immense potential and AI is its fundamental driver,” stated Mr. Kailash Pandey, Unit Head of Hindalco, “We are excited to work with the frontier technology for better safety and compliance at our plants.”
“This pilot with Hindalco brings us a step closer toward commercialization and the full market launch of our technology for the workplace”, stated Dr. Rahul Kushwah, COO of Predictmedix.
Predictmedix has a $30 million market cap.
Tiny companies need a gifted messenger in the C-suite.
Many micro-cap CEOs can not articulate a credible mission statement .
In this vein, we view Kushwah as a significant asset to Predictmedix.
He can boil down a 1,400-word press release into investor-centric bullet points.
In the video below, Kushwah talks to Proactive Investor’s Steve Darling about the Hindalco deal.
The Hindalco partnership may seem like an honest chunk of work for 32-day old company, but there’s another subplot.
On May 6, 2020 Predictmedix announced the deployment of its AI tech for mass screening of COVID-19 with Max Healthcare.
Before we go any further, let’s put the disclaimer up front.
“Predictmedix is not making any express or implied claims that its mass screening product has the ability to eliminate, cure or contain the Covid-19 at this time”.
Small cap companies often chase a hot sector with weak value propositions.
We saw it in 3D-printing, with Dung Beetle Treats.
We saw it in weed with a $1 billion website that forgot to sell cannabis.
We saw it in blockchain with Cryptocoin for porno transactions.
It should be no surprise there has been a pile-on of companies claiming to possess “corona-virus-solutions”.
Recently, the U.S. government issued a short, sharp slap to an overzealous promoter.
“Finest Herbalist has been told to stop marketing Pure Herbal Total Defense Immunity Blend as a cure for COVID-19,” stated Attorney General Letitia James, “Deceptive marketing is never acceptable, especially during a time of crisis.”
What’s interesting here is that the participation of Max Healthcare gives – to some significant degree – a stamp of authenticity to PMED’s nascent technology.
AI powered cameras in airports, travel hubs and staff entrances of hospitals and factories etc. could divert infected individuals to self isolation and treatment while allowing healthy individuals to proceed unimpeded,” stated Dr. Alexander Bardon, an advisor to Predictmedix.
“Deployment of our COVID-19 AI screening technology with one of the largest healthcare groups in South Asia [Max Healthcare] is a testament to the need for our technology and is a major step towards the global launch of our technology”, stated Kushwah.
The data collected is uploaded to a cloud for analysis. In the event of positive detection, alerts are sent to a surveillance department.
Kushwah breaks this down in another excellent Proactive Investors’ interview.
For Predictmedix’ shareholders, the salient point of the Hindalco and Max Healthcare partnerships may not be the outcome of these particular co-ventures, but the fact that PMED – a $30 million company – is partnering with multi-billion dollar companies while attracting tech titans to its board of directors.
Max Healthcare is one of the largest healthcare groups in South Asia, encompassing 14 hospitals with over 3000 doctors.
Hindalco has annual sales of $14 billion.
Kapil is an AI legend whose skill set includes: Systems Integration, Digital Transformation projects, Data Centre solutions, Security, Cloud Computing, CRM, Big-Data Analytics, IoT, SaaS and Virtualization.
Two weeks ago, Predictmedix filed a Patent Application in the U.S. for its AI-driven rapid screening system for infectious diseases.
– Lukas Kane
Full Disclosure: Equity Guru has no financial relationship with Predictmedix at this time.