Amesite Announces AI-Powered Document Storage and Study Tools on NurseMagic™ App to Power Instantaneous Training for Nurses and Nursing Students

Rhea-AI Summary

Amesite announced that its NurseMagic™ app, designed for nursing professionals and students, now includes AI-powered document storage and study tools. This functionality allows users to upload and transcribe video and audio files into study materials, enhancing both work and school performance. The app, which supports all levels of nursing professionals, has been rapidly adopted and demonstrated a 93% accuracy rate on NCLEX prep questions. Users can instantly create transcripts, summaries, quizzes, and flashcards from various materials and share them easily. This innovation aims to streamline training and education in the nursing field, addressing challenges like nurse shortages and high turnover.

Positive

• The app demonstrated a 93% accuracy rate on NCLEX prep questions.
• NurseMagic has quickly gained adoption among its target user base of over 5.2 million nurses.
• The new functionality enables instantaneous creation of study materials from various document types, enhancing professional and academic performance.
• The AI market in healthcare is projected to grow to $187 billion by 2030, indicating a strong growth environment.

Negative

• More than 33% of experienced nurses lack the time or capacity to train or coach others, a significant challenge the app aims to address.

Insights

Tech Expert

Amesite’s introduction of AI-powered functionality on the NurseMagic™ app presents a significant step toward leveraging technology in healthcare education and training. The ability to upload and transcribe various forms of content into study materials is a game-changer: it reduces the time nurses spend on manual documentation, allowing them to focus more on patient care and professional development.

This development aligns with the broader trend of increased AI adoption in healthcare, a market projected to grow to over $187 billion by 2030. The app’s capability to generate instantaneous training materials from diverse sources, including informal mentorship content, is particularly noteworthy. It addresses a well-documented issue: the lack of time among experienced nurses to train newcomers, as highlighted by the McKinsey report.

However, while the technology offers apparent benefits, its actual impact will depend on user adoption and integration into daily workflows. The 93% accuracy in NCLEX prep questions is impressive but needs to be consistently validated across broader and more diverse datasets to ensure credibility and effectiveness.

From a retail investor’s perspective, this innovation implies potential growth and a strong market presence if Amesite can maintain and scale this technology. Yet, it’s essential to monitor user feedback and adoption rates closely to gauge its long-term viability.

Market Research Analyst

The launch of AI-powered document storage and study tools on the NurseMagic™ app by Amesite appears well-timed, given the current issues faced by the nursing profession, such as shortages and high turnover. These factors have created a pressing need for efficient training tools to ease the burden on both new and experienced nurses.

By targeting over 5.2 million nurses, Amesite has a substantial market to tap into. The rapid adoption reported suggests strong initial interest. However, sustaining and expanding usage will be critical. The success of marketing efforts, including leveraging nurse influencers, is likely to play a important role in driving user growth and engagement.

Furthermore, Amesite’s strategic focus on aligning their AI tools with user needs, as evidenced by the ongoing feedback loop from nurse influencers, is a positive indicator. However, investors should be cautious about the competitive landscape. Numerous companies are investing heavily in AI for healthcare, which could lead to increased competition and pressure on Amesite to continuously innovate and differentiate itself.

For retail investors, this development points to a potential growth avenue for Amesite. Still, it’s prudent to stay informed about how the company navigates the competitive dynamics and user adoption trends in this evolving market.

NurseMagic’s Library Function Enables Nurses to Upload and Transcribe Video and Audio Files and Create Study Materials to Enhance Work and School Performance

DETROIT, July 11, 2024 (GLOBE NEWSWIRE) -- Amesite Inc. (NASDAQ: AMST), a leading artificial intelligence software company offering a cloud-based learning platform for business and education markets, announced that its NurseMagic^TM app now supports nursing students and professionals ranging from CNAs and LPNs to APRN-CNPs and NPs. The functionality supports any type of documentation, training and learning. NurseMagic^TM has experienced rapid adoption by nurses following its release to the general public, targeting over 5.2 million nurses. Its proprietary technology has demonstrated 93% accuracy when tested on prep questions for the NCLEX, the exam that must be passed by nurses in the U.S. and Canada in order to be licensed.

Users can upload pdf, video and audio files to instantly create transcripts, summaries and even quizzes and flashcards based on the material. Uploadable content spans recorded and written lecture materials, training materials and professional guidelines along with informal materials created via mentorship. With the new functionality, nurses can access instantaneous training. Additionally, users can share materials easily on the app and create their own file structures, enabling scaling of distribution of informal and formal learning, training and other professional materials.

McKinsey reports that 75% percent of early-tenure nurse respondents enjoy working with the most-experienced nurses, but more than 33% of these nurse veterans don’t have the time or capacity to train or coach others. In academia, more than 70% of college students have used AI. The market for AI in healthcare is expected to grow to over $187 billion by 2030.

Kalie Wortinger, Senior Engineering Manager at Amesite, said, “Our AI-powered capability to upload, digest and effectively use documents is an overwhelming advantage to nurses using it, for both professional and academic purposes, replacing hours of manual work with streamlined access to instantaneous training. We built our infrastructure at Amesite to stay ahead of the curve in key AI capabilities and are thrilled to consistently roll out tools that our users want and can use immediately.”

CEO Dr. Ann Marie Sastry said, "Our nurse influencers like Cynesse, Nurse Tara and Kesheen are demonstrating the power of NurseMagic^TM to their communities and driving user growth, and their communities are telling us what they want, and influencing our designs. We are focused on powering the work of millions of nurses around the world with AI, who can use our technology to be effective in this era of nurse shortages, burnout and high turnover."

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About Amesite Inc.

Amesite Inc., an education tech SaaS company, offers its proprietary learning platform and content services to deploy affordable and effective AI for white-labeled online learning programs for colleges and universities. The company's technology platform leverages cutting-edge AI to offer an innovative out-of-the box, AI-powered learning ecosystem, complete with 24/7 learner support, up-to-date content and ready-to-go programs to quickly deploy and generate revenue. With the announcement of NurseMagic^TM, Amesite has entered the B2C AI app market. Amesite has also announced its intention to deliver other apps on its infrastructure including a Public Safety app that includes training and preparedness for active shooter response. For more information, visit https://amesite.com.

Forward Looking Statements

This communication contains forward-looking statements (including within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended) concerning the Company, the Company's planned online machine learning platform, the Company's business plans, any future commercialization of the Company's online learning solutions, potential customers, business objectives and other matters. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "may," "will," "should," "would," "expect," "plan," "believe," "intend," "look forward," and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement. Risks facing the Company and its planned platform are set forth in the Company's filings with the SEC. Except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Relations Contact:

MJ Clyburn

TraDigital IR

clyburn@tradigitalir.com

SOURCE:

https://www.mckinsey.com/industries/healthcare/our-insights/how-to-bridge-the-experience-gap-by-supporting-nurses-of-all-tenures

https://leadershipblog.act.org/2023/12/students-ai-research.html

https://www.globenewswire.com/en/news-release/2022/04/11/2420243/0/en/Artificial-Intelligence-in-Healthcare-Market-Size-to-Hit-US-187-95-Bn-By-2030.html

FAQ

What new features has Amesite introduced in the NurseMagic™ app?

Amesite has introduced AI-powered document storage and study tools in the NurseMagic™ app, allowing users to upload and transcribe video and audio files into study materials.

How accurate is NurseMagic™ in preparing for the NCLEX exam?

The NurseMagic™ app has demonstrated a 93% accuracy rate when tested on NCLEX prep questions.

Who can use the new functionalities in the NurseMagic™ app?

The app supports nursing students and professionals ranging from CNAs and LPNs to APRN-CNPs and NPs.

What are the benefits of the new AI-powered tools in NurseMagic™?

The AI-powered tools allow for the instant creation of transcripts, summaries, quizzes, and flashcards, which can enhance both work and school performance.

How does NurseMagic™ address the issue of nurse training and coaching?

NurseMagic™ enables easy sharing and creation of training materials, addressing the issue that more than 33% of experienced nurses lack time or capacity to train or coach others.