Long-term chronic medical conditions are a fact of American life, and they seem to receive only a small fraction of the attention and care they’re due. It’s estimated that some 157 million Americans suffer from chronic conditions, representing well over 40% of the population. That number is only going to go up in the immediate future, meaning that new efforts are needed to help people cope.
Four Companies Helping People With Chronic Care Issues
Thankfully, a number of businesses are currently working on vital solutions. No one firm will be able to solve every case — it will take an entire industry’s worth of effort in order to effect the necessary changes. Here are four companies leading the charge:
1. Navigating Cancer
Anyone who’s undergone treatment for cancer or knows someone who has done so is aware that care is a holistic process — it doesn’t start and stop at the hospital door. Navigating Cancer is a revolutionary platform that acknowledges this reality by giving doctors the tools they need to connect with and monitor their patients.
Systems like Navigating Cancer make it possible for medical providers to fine-tune the care process to exactly what each patient needs. Regular contact between patient and doctor, even when virtual, means that no crucial detail goes unmissed or unreported. When it comes to developing an effective regime of care for a chronic illness, having all the details in the hands of your physician can make all the difference.
2. Cardiac RMS
Cancer isn’t the only chronic condition for which remote monitoring is a much-needed solution. For those at increased risk of cardiac incidents or those who themselves have experienced a heart attack, the threat is always there. Cardiac RMS can provide much-needed peace of mind in situations like these.
Heart monitoring devices such as pacemakers, ICDs, and implantable loop recorders can be linked to Cardiac RMS. In turn, the recorder interprets the data and sends it on to your clinic. This means that Cardiac RMS — and therefore your doctor as well — will often be able to tell when something is going awry. Additionally, they can identify an issue more quickly than you can. When it comes to the seriousness of long-term cardiac problems, that kind of monitoring system is a must.
Not all chronic conditions are as dire as heart disease or cancer. But, they still require their own solutions all the same. Long-term “lifestyle” conditions, such as obesity or sedentarism, can have serious consequences if left unaddressed for too long. While there are plenty of diet and activity programs out there, few are as focused on long-term results as Noom.
Noom doesn’t take a singular approach to weight loss and control. Instead, it helps users adjust their lifestyle and habits towards meaningful health goals. Noom assesses each user’s health profile and uses this information to label certain foods appropriately and encourage beneficial behaviors. This ensures that whatever weight comes off ultimately stays off, turning chronic problems into distant memories.
Endotronix is a remote heart health monitoring system similar to Cardiac RMS. The biggest difference here is that Endotronix has its own Pulmonary Artery Pressure Sensor for keeping close track of patients’ state. The sensor sends data simultaneously both to the patient app and the clinic. This method allows both you and your doctor to stay fully abreast of what’s going on in your chest at any given time.
Chronic treatments will look different for different chronic issues, but the principle is always the same: get people the help they need to live with their illnesses. More and more companies are seeking to enter this space. Consequently, the more that do, the better off patients will be in the long run.
Image Credit: tima miroshnichenko; pexels; thank you!
Fintech Kennek raises $12.5M seed round to digitize lending
London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.
According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.
The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:
“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”
The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:
“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”
The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.
The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.
Featured Image Credit: Photo from Kennek.io; Thank you!
Fortune 500’s race for generative AI breakthroughs
As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.
Goldman Sachs’ Cautious Approach to Implementing Generative AI
In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.
According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.
One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.
To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.
Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.
Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!
UK seizes web3 opportunity simplifying crypto regulations
As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.
Streamlining Cryptocurrency Regulations for Innovation
To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.
The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.
Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.
The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.
Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!