Predictmedix (PMED.CN) is an emerging provider of rapid health screening and remote patient care solutions globally. The Company’s Safe Entry Stations – powered by a proprietary artificial intelligence (AI) – use multispectral cameras to analyze physiological data patterns and predict a variety of health issues including infectious diseases such as COVID-19, impairment by drugs or alcohol, fatigue or various mental illnesses.
Today, Predictmedix announced the production of its AI-Powered mobile app in conjunction with a portable multi-spectral imaging camera to non-invasively detect impairment from alcohol and cannabis. The non-invasive solution will be commercialized with the intent to serve global law enforcement agencies, transport, and other mobile high-risk industries where impairment remains a significant liability.
Recent studies show that Predictmedix’s screening tool can accurately identify impaired individuals with a success rate of over 90%. The process is also quick, taking less than 30 seconds to complete. It does so by utilizing multispectral imaging and speech analysis. The speech analysis component itself has achieved an impressive accuracy rate in identifying impairment. The Company is currently taking action to preserve the rights and IP of the technology for commercialization efforts and shareholder concerns.
Impairment from alcohol and cannabis is an on-going issue for law enforcement. Protocols for current testing are long and costly. Predictmedix’s portable solution addresses these problems by offering a quick, cost-effective and non-invasive solution.
“We are happy to announce to our shareholders that we are making very good progress with our portable solution for detecting impairment in individuals. From our research and discussions with high-level contacts, we believe our product will be in high demand in multiple industry verticals worldwide. In 2021, the drug screening market size was valued at over $5.2 Billion with revenue forecasted at over $22 Billion in 2030, making this another lucrative opportunity for Predictmedix,” commented Dr. Rahul Kushwah, Chief Operating Officer at Predictmedix. “We look forward to updating our shareholders on further technological and commercial development.”
When it comes to the AI, there will be a multiparametric approach. Facial and speech analysis will be analyzed by AI algorithms resulting in an un-biased outcome. The multi-spectral imaging camera captures non-visible wavelength data which the AI algorithms extract features that are associated with impairment from alcohol and/or cannabis. Of course AI is self-learning, so Predictmedix’s algorithms will improve as more data is obtained and processed. This will improve accuracy and speed with time.
The stock is currently up 20% on this news at time of writing.
Predictmedix has triggered a bottoming pattern with a breakout on January 23rd 2023. The chart structure is familiar with Equity Guru readers as these types of charts are the crux of the big moves we have called. Same structure, same trigger, same results.
We even saw a nice retest at the breakout level at $0.06. The uptrend remains intact as long as we remain above this zone.
The stock has made a higher low, and is in the process of confirming another one if it can close above recent highs at $0.15. This is being tested at the time of writing and could see a close and breakout confirmed by the end of the trading day. Upside resistance comes in at $0.20.