Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe


Healthcare AI Firm Has 'Bright Future,' Analyst Predicts

View Important Disclosures for this Article
Share on Stocktwits


Canadian artificial intelligence (AI) and machine learning healthcare firm AI is breaking into the global healthcare AI market predicted to be worth US$187 billion by the end of the decade.

Canadian Healthcare artificial intelligence (AI) and machine learning firm AI Inc. (TRUE:CSE; TREIF:OTCMKTS) announced its progress as it works to break into markets in the United States, and at least one analyst says it has a "bright future."

The company said its platform, the Global Library of Medicine (GLM), which uses AI to streamline healthcare experiences for patients and doctors, has expanded to include more than 1,000 diseases and more than 10,000 symptoms and risk factors.

The global AI healthcare market was valued at US$11 billion in 2021 and was projected to be worth US$187 billion by 2030, according to Statista. The healthcare industry itself accounts for 11% of the world's GDP, or US$9 trillion every year.

The growth potential of the industry is "enormous," wrote Technical Analyst Clive Maund on February 16.

" AI Inc. is a company that should have a very bright future as it has been pioneering the development of an AI healthcare platform using AI and advanced machine learning technologies that (have) the potential to revolutionize healthcare due to the streamlining of healthcare provision and the massive cost savings across the industry that should result," Maund wrote.

He pointed out that the company "is already in partnership with the Mayo Clinic [Family Medicine Department] and the University of Minnesota Medical School and is in discussion with another 52 organizations."

In a review of the AI's charts, Technical Analyst Clive Maund noted the patterns he saw "are decidedly bullish."

In a review of the AI's charts, Maund noted the patterns he saw "are decidedly bullish."

"The Handle part of this Cup & Handle base, which started to form in mid-October, has been a remarkably narrow trading range, and the good news is that we can be reasonably confident of an upside breakout before much longer, thanks to the Accumulation line trending higher throughout, due to a preponderance of upside volume," Maund wrote.

"The analyst rated the stock a Strong Buy for all timeframes, and the upside potential from the current historically low level is very substantial," he said.

Company Moves AI noted it had just appointed Dr. Essam Hamza as chief executive officer and director of the company.

The company said he had a record of "successfully found, leading, and growing transformational healthcare companies, most recently founding and leading CloudMD, a Vancouver-based healthcare technology company.

Dr. Hamza led CloudMD "through tremendous growth, from a handful of employees and approximately (CA)$4 million in annual sales in Canada to hundreds of employees and customers across North America and over (CA)$100 million in annual sales," AI said. AI also said it had recently appointed David Worner as chief financial officer. Worner is the CEO and founder of GrowthPath Partners, a transactional accounting and advisory firm that services companies going through mergers and acquisitions and public offering events.

Founder Dr. Kevin Peterson also was appointed chairman and chief medical officer.  Dr. Peterson is a professor emeritus of Family Medicine at the University of Minnesota Medical School and vice-president of primary care at the American Diabetes Association.

The Catalyst: 21st Century Problems

According to AI's investor presentation, its technology answers problems facing the traditional medical market in the 21st century. For instance, it said 1 billion people Google their health concerns every day, but "what they find can be inaccurate and overwhelming." Other AI models, such as ChatGPT, also don't provide reliable information, the company said.

Patients also lack access to enough doctors, often get short visits with doctors when they do get in the door, and see their premiums go up to cover for industry fraud that costs billions.

Its GLM platform is "the most comprehensive and integrated online medical library powered by AI," the company said.

It is geographically specific and recognizes that the "most likely diagnosis can vary" depending on where a patient lives.  While it utilizes AI and machine learning, the GLM is curated and evaluated by more than 150 physicians from around the world to make sure it is accurate.

"Perpetual evolution of the platform is both through machine learning and peer review," AI said. AI's platform includes medical interviews, notes sent to providers, suggestions for testing, and recommended treatments after diagnosis is given.

streetwise book logoStreetwise Ownership Overview* AI Inc. (TRUE:CSE; TREIF:OTCMKTS)

*Share Structure as of 3/6/2024

It said opportunities for AI in the healthcare industry include virtual assistants and chatbots, diagnosis and treatment planning, streamlining administrative tasks, and predictive analytics.

"The role of AI in healthcare will become increasingly important as the technology has the potential to save health workers a lot of time which can be refocused on patients," Statista noted.

Ownership and Share Structure

According to Reuters, 13.12% of the company is held by insiders and management. The top two shareholders include founder Dr. Kevin Arthur Peterson with 10.35% or 3.84 million shares, and John DuFrene Fraser with 2.76% or 1.03 million shares. AI's market cap is CA$20.04 million, with 37.11 million shares outstanding and 32.24 million free-float shares. It trades in a 52-week period of CA$1.20 and CA$0.10.

Want to be the first to know about interesting Life Sciences Tools & Diagnostics and Technology investment ideas? Sign up to receive the FREE Streetwise Reports' newsletter. Subscribe

Important Disclosures:

  1. AI Inc. has a consulting relationship with an affiliate of Streetwise Reports, and pays a monthly consulting fee between US$8,000 and US$20,000.
  2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of AI Inc.
  3. Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
  4.  This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. 
  5. This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

Contributing Author Disclosures

  1. Author Certification and Compensation: [Clive Maund of] is being compensated as an independent contractor by Street Smart, an affiliate of Streetwise Reports, for writing this article. Maund received his UK Technical Analysts’ Diploma in 1989.  The recommendations and opinions expressed in this content accurately reflect the personal, independent, and objective views of the author regarding any and all of the designated securities discussed. No part of the compensation received by the author was, is, or will be directly or indirectly related to the specific recommendations or views expressed. Disclosures

The above represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.


Want to read more about Life Sciences Tools & Diagnostics and Technology investment ideas?
Get Our Streetwise Reports' Life Sciences Report Newsletter Free and be the first to know!

A valid email address is required to subscribe