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Story Highlights:
- A new phone app uses artificial intelligence (AI) to identify a rare form of cancer by merely snapping an image of the eyes.
- It’s just the latest example of how AI is fueling the precision medicine boom and helping create America 2.0 — the Fourth Industrial Revolution.
- Here’s your best way into the AI mega trend boom, with research spending on this mega trend on track to explode and give investors a chance to lock in 29% every year.
Need to find the nearest grocery store? There’s an app for that.
Track your steps for the day? There’s an app.
Want to diagnose cancer? Yep. There is now an app for that too.
Biotech is giving new meaning to the term “smartphone.”
Medical researchers have developed the first app encoded with artificial intelligence (AI) that can identify a serious form of cancer of the eye.
The remarkable app is the result of one scientist’s five-year mission to effectively diagnose a serious eye disease his own son suffered. Bryan Shaw’s son, Noah, lost an eye to retinoblastoma.
So, Shaw worked with Baylor University to create an AI-powered software that scans smartphone photos for the telltale “white eye” signs of the disease.
The result of that work — an app called Cradle — was just featured in the journal Science Advances.
The CRADLE app can scan pictures on your phone to identify signs of cancer of the eye — leukocoria, or what doctors call “white eye.” Photo courtesy of Science Advances
Although Cradle focuses on retinoblastoma, researchers say the AI technology behind it can also be adapted to diagnose cataracts and other eye diseases that lead to vision loss in millions of Americans.
This advance spotlights the promise of AI in remaking and improving modern medicine.
Cradle is a huge step for medicine. But it also spotlights an incredible investment opportunity in AI. The market is growing fast, but the best is still to come.
According to the McKinsey Global Institute, only $1.7 billion in funding was going into AI research in 2013. By 2017, it jumped to $15 billion — a 782% increase.
And by the end of this year, annual spending is projected to rocket to $46 billion — a phenomenal 207% increase in just three years!
Collect 29% (for Starters) From the Rise of Biotech AI Today
The Cradle app is just one example of how AI, precision medicine and mobile phone technology are reshaping our health care system. It’s putting the global library of medicine into the hands of every smartphone user:
- A Dutch startup called SkinVision has developed an AI app that can instantly identify melanoma — a type of skin cancer — early. Uploading an image of a suspicious mole or skin lesion to the app’s database can give you a clean bill of health or direct you to seek medical attention — at the click of a button. Clinical research shows the SkinVision app can detect 95% of skin cancers, while dermatologists catch between 75% and 92%.
- WebMD has developed perhaps the most well-known symptom-checker app. It’s used by millions of people every day for treatment advice, first-aid tips, medication reminders, fitness tracking and even arranging an appointment with a nearby physician.
- Wearable monitors that work with AI phone apps can now give users, and doctors, real-time data on heart conditions, diabetes, genetically linked cancers, psychological conditions and a host of other health issues.
Because these apps use “thinking machine” AI software, they are constantly evolving and getting better. As more people use them, the databases will grow to become smarter and even better than they are today.
In the process, the global AI market will explode. It’s projected to grow to $12.36 billion by 2023 — up from just $2.84 billion in 2017 — an annual rise of 28.78%.
According to McKinsey, businesses that implement AI over the next few years could see their earnings rise by 20% to 30%.
That’s why AI is one of the mega trends driving America 2.0 — a new economic and manufacturing boom driven by a variety of next-generation technological innovations, industrial upgrades and millennial consumer trends.
So, what’s the best way to play the incredible investment opportunity in AI right now?
No. 1: Paul Mampilly has identified an AI company that’s on a 33% tear since he first recommended it. But that’s only the beginning when it comes to what he sees coming for AI. Here, he details how you can grab these AI front-runners today.
No. 2: Another way is to leverage the rise of robots and artificial intelligence. You can buy the Global X Robotics & Artificial Intelligence ETF (Nasdaq: BOTZ). This exchange-traded fund (ETF) holds a portfolio of about 30 companies at the forefront of robotics and AI. Over the past five months alone, the ETF is up nearly 28% — beating the S&P 500 Index.
One last thing before I go: Have you used a smartphone health app or AI technology in your everyday life? If so, I’d love to hear about it. Email me at boldprofits@banyanhill.com, and I may feature your story in an upcoming column.
To your health and wealth,
Nick Tate
Senior Editorial Manager, Banyan Hill Publishing
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