PredictMedix (CSE: PMED) (OTCQB: PMEDF) (FRA:3QP) 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).
The technology uses multispectral cameras to analyze physiological data patterns and predict various health issues, including infectious diseases such as COVID-19, impairment by drugs or alcohol, fatigue or various mental illnesses.
From the Company’s March 23rd Press Release: “the use of drugs such as cannabis or alcohol can impair an individual’s physiological and/or psychological state, leading to significant safety risks. Predictmedix’s technology functions by identifying signs of impairment and correlating them with various levels of impairment-inducing agents…The patented technology will also be used in Predictmedix’s AI-powered mobile app, which works alongside a portable multispectral imaging camera for non-invasive impairment detection. The company plans to commercialize its mobile solution to serve global law enforcement agencies, transport, and other high-risk industries where impairment is a significant liability.”
The global workplace safety market was valued at $12.7 billion in 2021 and is projected to reach $38.9 billion by 2031, registering a CAGR of 12.2% from 2021 to 2031.
Of the scarce competition, a similar test can take 20 minutes to detect impairment. PMEDs take 3-5 SECONDS. Yes, that’s correct. 3-5 seconds.
It will Be Popular with Insurance Companies. Globally.
Obvious cost savings are myriad to insured entities that use the tech, as up to 50% of workers’ compensation claims directly result from substance abuse.
Few labour or ‘responsibility’ industries wouldn’t benefit from PMED’s patented tech. Think transportation, factory, building trades and care homes and on and on.
The benefits for all involved—except those coming to work impaired—are obvious. Nice to know your pilot and co-pilot are sober.
Health Screening Patent Granted
Earlier this week, PMED announced to advance the above: “The US Patent Office has granted a patent for its AI-powered technology (United States Patent Application Number: 16/892,369) for the non-invasive detection of impairment caused by alcohol and/or cannabis.
The patented technology uses multispectral imaging and speech analysis to identify and extract features from an individual, allowing the technology to determine whether the individual is exhibiting signs associated with impairment. The technology is part of the Company’s Fit for Duty screening solutions, which provide contactless and bias-free screening for impairment, extreme fatigue, and infectious diseases.”
Access this link and scroll down to discuss the benefits of Safe Entry from the Company’s Principals.
Even to the most skeptical investor, the technology has enormous potential—eventually, a handheld app for law enforcement. A non-invasive portal that employees pass through, and in case worried, no personal information is recorded or stored.
Dr. Rahul Kushwah, Chief Operating Officer at Predictmedix, states, “Our proprietary technology has the potential to revolutionize the way that businesses and organizations screen for impairment. We have a lot of exciting opportunities in our pipeline. Being at the forefront of this scientific AI breakthrough and providing proven, accurate solutions to combat impairment is a top priority for Predictmedix. We are excited to continue to make a positive impact on workplaces and organizations around the world.”
Bottom Line
In Summary:
PMED has several substantive and unique patents, both granted and pending.
The Companies market is virtually limitless, with exceptional long-term growth prospects.
Should have public acceptance when traded on against accidents and fatalities caused by impairment or fatigue.
It provides a quick and viable way to detect illnesses such as COVID-19, potentially before the individual knows.
No filing or storing of personal information.
Insurance, risk, and underwriting companies will embrace. Technology in every car, truck etc.?
The potential seems obvious. The technology is exceptional. The Market cap is CDN$16 million—the shares trade at a daily average of about 175K. Shares have a 52-week hi-lo of CDN$0.025 to CDN$0.17. Currently, CDN$0.12 per share.
Faites vos jeux.
