Nference Inc. is playing in the big leagues of artificial intelligence (AI) in healthcare. The brainchild of Murali Aravamudan and Venky Soundararajan, this company came to life in 2013 with a mission to give healthcare a shot of adrenaline in the arm. Think of it as a high-tech cocktail of AI and machine learning, shaken, not stirred, with a splash of natural language processing (NLP).
The AI Concoction
Their secret sauce? A bustling AI platform that drinks up oceans of medical data from disparate sources, chews it up, and spits out insights that are as valuable as gold dust for healthcare professionals. With such a tool in their arsenal, these professionals can now make decisions about patient care, drug development, and clinical research that are not just faster, but better.
nferX: The Jewel in the Crown
But let’s talk about the real star of the show here, nferX. An AI-driven platform that empowers healthcare professionals to sift through mountains of unstructured clinical data in a jiffy. Before nferX came into the picture, doctors were stuck with the laborious task of manually extracting information from a hodgepodge of sources – electronic health records, medical claims data, clinical notes, and more. But nferX, with its advanced NLP capabilities, changed all that, making it easier for healthcare professionals to understand patient conditions, identify potential drug interactions, and monitor patient outcomes.
Beyond nferX
Of course, nference didn’t stop there. They’ve also rolled out a few other goodies to aid drug discovery and clinical research. For example, nferX Biopharma, another AI-fueled platform, assists drug developers in identifying promising drug targets, optimizing clinical trial design, and speeding up the drug development process. nferX Clinical, on the other hand, helps clinical researchers identify potential patient cohorts for clinical trials based on patient data and other criteria.
The Takeaway
In a nutshell, nference is attempting to provide healthcare professionals with tools and insights that are transforming the way healthcare is delivered by improving patient outcomes, reducing healthcare costs, and accelerating the development of new therapies and treatments. As the AI technology landscape continues to evolve, nference is gearing up to lead the charge.
And let’s not forget, their efforts have been rewarded handsomely. Nference has successfully raised a cool $152 million from investors like A&E Investments, PharmStars and Mayo Clinic.