AI/ML Innovations Inc. Introduces NeuralCloud Solutions Incorporated, its Newest Operating Subsidiary

Rhea-AI Summary

AI/ML Innovations has announced the formation of a new subsidiary, NeuralCloud Solutions. This subsidiary aims to capitalize on the convergence of the global smart sensor market and the digital health industry by monetizing recently acquired assets from Naiad Labs. The smart sensors market, valued at USD 52.4 billion in 2023, is expected to reach USD 160.3 billion by 2030. The global digital health market, valued at USD 217 billion in 2022, is projected to reach USD 1,592 billion by 2032. NeuralCloud will focus on delivering personalized health intelligence through advanced sensor technologies and AI. Esmat Naikyar has been appointed as President and Chief Product Officer of NeuralCloud.

Positive

• Established a new subsidiary, NeuralCloud Solutions, to penetrate the lucrative smart sensor and digital health markets.
• Smart sensor market expected to grow from USD 52.4 billion in 2023 to USD 160.3 billion by 2030.
• Global digital health market valued at USD 217 billion in 2022, projected to hit USD 1,592 billion by 2032.
• Appointment of experienced executive, Esmat Naikyar, to lead NeuralCloud Solutions.
• Monetization of recently acquired assets from Naiad Labs.

Negative

• No immediate revenue projections or financial benefits mentioned for NeuralCloud Solutions.
• Potential high costs associated with the development and deployment of new technologies.

Highlights:

• The formation of NeuralCloud Solutions Incorporated: AIML's newest division - a wholly owned, operating subsidiary focused on pioneering advancements at the convergence of the global smart sensor market and the digital health industry.
• The monetization of acquired assets: NeuralCloud's mandate is to advance and monetize AIML's recently acquired assets from Naiad Labs Inc.

VICTORIA, BC / ACCESSWIRE / May 16, 2024 / AI/ML Innovations Inc. ("AIML" or the "Company") (CSE:AIML)(OTCQB:AIMLF)(FWB:42FB), a leading company committed to acquiring and advancing Artificial Intelligence/Machine Learning technologies that address urgent societal needs, proudly announces the formation of a new, wholly owned operating subsidiary, NeuralCloud Solutions Incorporated. NeuralCloud was founded with a clear mission: to capitalize on the increasing opportunities arising at the convergence of the global smart sensor market and the digital health industry, through the monetization of the recently acquired assets from Naiad Labs Inc.

NeuralCloud's market opportunity. The smart sensors market size stood at USD52.4 billion in 2023, and it is expected to grow at a compound annual growth rate of 17.5% during 2024-2030, to reach USD160.3 billion by 2030.[1]In addition, the Global Digital Health Market size was valued at USD217 billion in 2022 and is projected to reach USD1,592 billion by 2032.[2]

"Our vision is for NeuralCloud to empower the world with Personalized Health Intelligence," stated Paul Duffy, CEO of AI/ML Innovations Inc. "Through innovative sensor technologies, Artificial Intelligence, and Neural Networks, we aim to make high-quality, low-cost personal biometric data accessible to every individual, enabling them to live their best lives."

Additionally, AIML is pleased to report that its CPO, Esmat Naikyar, has been chosen to lead NeuralCloud Solutions Incorporated as its President and Chief Product Officer.

Esmat Naikyar expressed his enthusiasm for leading the team at NeuralCloud Solutions Incorporated, "I am honored to embark on this journey with NeuralCloud. Together, we will harness cutting-edge technology to help redefine healthcare, and drive positive societal change."

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About AI/ML Innovations Inc. https://aiml-innovations.com/

AI/ML Innovations Inc. has realigned its business operations to capitalize on the burgeoning fields of artificial intelligence (AI) and machine learning (ML), with an initial investment focus on emerging digital health and wellbeing companies that leverage AI, ML, cloud computing and digital platforms to drive transformative healthcare management solutions and precision support delivery across the health continuum. Through strategic partnerships with Health Gauge (95.2% owned by AIML), Tech2Heal (up to 22% ownership rights, with 12.44% currently owned by AIML), AI Rx Inc. (70% owned by AIML) and other planned accretive investments, the Company continues to capitalize on expanding growth areas, to the benefit of all the Company's stakeholders. AI/ML's shares are traded on the Canadian Securities Exchange under the symbol "AIML", the OTCQB Venture Market under "AIMLF", and the Frankfurt Stock Exchange under "42FB".

On behalf of the Board of Directors
Tim Daniels, Executive Chairman

For more information about AI/ML Innovations:

For detailed information please see AI/ML's website or the Company's filed documents at www.sedarplus.ca

For further information, contact: Blake Fallis at (778) 405-0882 or info@aiml-innovations.com

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

For AI/ML Innovations Investors

Certain statements made in this press release that are not based on historical information are forward-looking statements that involve substantial known and unknown risks and uncertainties. This press release contains express or implied forward-looking statements relating to, among other things, AI/ML Innovations' expectations concerning management's plans, objectives, and strategies, including strategies for defending the Company's intellectual property. These statements are neither promises nor guarantees but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. AI/ML Innovations Inc. undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events, or circumstances or otherwise except as expressly required by applicable securities law. Further information regarding the uncertainties and risks can be found in the disclosure documents filed by AI/ML with the securities regulatory authorities, available at www.sedar.com.

[1] https://www.psmarketresearch.com/market-analysis/smart-sensors-market-report#

[2] https://finance.yahoo.com/news/digital-health-market-forecasted-reach-062100319.html

SOURCE: AI/ML Innovations Inc.

View the original press release on accesswire.com

FAQ

What is AI/ML Innovations' latest subsidiary?

NeuralCloud Solutions Incorporated.

What markets is NeuralCloud Solutions targeting?

The global smart sensor market and the digital health industry.

What assets will NeuralCloud Solutions monetize?

Assets recently acquired from Naiad Labs Inc.

Who has been appointed to lead NeuralCloud Solutions?

Esmat Naikyar has been appointed as President and Chief Product Officer.

What is the expected growth of the smart sensor market?

From USD 52.4 billion in 2023 to USD 160.3 billion by 2030.

What is the projected value of the global digital health market by 2032?

USD 1,592 billion.

What stock symbol represents AI/ML Innovations on the OTCQB?

AIMLF.