BEN Contracts with IntelliTek to Broaden Global Access to AI Solutions for Healthcare

Rhea-AI Summary

Brand Engagement Network (BEN), (Nasdaq: BNAI), has announced a contractual agreement with IntelliTek, a SmarTek21 subsidiary, to provide AI-driven healthcare solutions globally. The collaboration will offer a suite of AI technologies, including:

1. BEN's Healthcare AI Assistant, Sandy, for patient-facing resources.
2. IntelliTek Health's Personal Virtual Assistant (PVA) for post-discharge communications.
3. IntelliTek Health's Clinical Virtual Assistant (CVA) for reducing administrative burden.
4. IntelliTek Health's Document Search AI for swift information retrieval.

This partnership aims to address critical challenges in healthcare workforce and resource availability, potentially impacting the $70BN after-care communications market and the $103BN Patient Encounter workflow market. The collaboration is expected to improve patient experiences, healthcare professional productivity, and overall healthcare access and outcomes.

Positive

• Global expansion of AI-driven healthcare solutions through partnership with IntelliTek
• Potential to impact $70BN after-care communications market and $103BN Patient Encounter workflow market
• Comprehensive suite of AI solutions addressing various healthcare needs
• Potential for up to 50% reduction in administrative burden and 17% improvement in patient throughput with Clinical Virtual Assistant

Negative

• None.

Insights

Tech Expert

The collaboration between BEN and IntelliTek marks a significant step in advancing AI-driven healthcare solutions. Their combined offerings address critical areas in the healthcare industry:

• Patient engagement and care coordination through BEN's Healthcare AI Assistant, Sandy
• Post-discharge communication via IntelliTek's Personal Virtual Assistant (PVA)
• Clinical workflow optimization with IntelliTek's Clinical Virtual Assistant (CVA)
• Efficient information retrieval using IntelliTek's Document Search AI

These AI solutions target substantial markets, including the $70 billion after-care communications sector and the $103 billion patient encounter workflow market. The partnership's potential to reduce administrative burden by up to 50% and improve patient throughput by 17% could significantly enhance healthcare efficiency and accessibility.

Medical Research Analyst

This partnership addresses important challenges in healthcare delivery and patient management. The AI-driven solutions offer:

• Improved patient access to care and information
• Enhanced post-discharge care and communication
• Reduced administrative burden on healthcare professionals
• Faster, more informed clinical decision-making

The integration of regionalized large language models and real-time speech recognition in clinical settings is particularly noteworthy. It suggests a potential leap in the accuracy and contextual relevance of AI-assisted healthcare. However, the effectiveness and safety of these AI solutions in real-world healthcare settings will need rigorous evaluation to ensure they meet stringent medical standards and regulations.

Market Research Analyst

The BEN-IntelliTek partnership is strategically positioned to capitalize on the growing demand for AI in healthcare. Key market implications include:

• Expansion into multiple international markets, including the US, Australia, New Zealand, India and Europe
• Targeting of high-value markets, such as the $70 billion after-care communications and $103 billion patient encounter workflow sectors
• Potential for significant market disruption by offering comprehensive, integrated AI solutions

The collaboration leverages IntelliTek's existing reach of over 600 million global user endpoints and 2 billion automated interactions. This extensive network, combined with BEN's AI technology, could lead to rapid market penetration and adoption. However, success will depend on effective integration of their technologies and navigating complex healthcare regulations across different regions.

Agreement grants a worldwide license to provide AI-driven solutions to support healthcare operations and optimize patient engagement

JACKSON, Wyo., Sept. 03, 2024 (GLOBE NEWSWIRE) -- Brand Engagement Network (BEN), (Nasdaq: BNAI), is pleased to announce a contractual agreement has been reached between BEN, an up-and-coming supplier of safe, customized AI for consumer engagement, and IntelliTek, a SmarTek21 subsidiary that creates solutions for virtual assistants that interact with patients. Through the arrangement, BEN and IntelliTek will be able to work together to give healthcare organizations in the US, Australia, New Zealand, India, and Europe access to AI technology solutions.

Together, BEN and Intellitek will offer a suite of AI-driven healthcare solutions to support and execute a broad range of tasks and operations serving both professionals and patients. These solutions include:

• BEN’s Healthcare AI Assistant, Sandy, which serves as a patient-facing resource for individuals seeking medical care or information about treatments. Using the assistant, patients can identify and schedule appointments with in-network healthcare providers, and receive accurate and up-to-date information about prescription drugs.
• IntelliTek Health’s Personal Virtual Assistant (PVA), a collaboration with Samsung Mobile Solutions, and leading US and multi-national telecommunications companies, is an AI-enabled communications platform for healthcare providers and patients to stay connected post-discharge. This $70BN after care communications market will see IntelliTek Health’s PVA paired with BEN’s Healthcare AI Assistant enabling guided care pathways and the streamlining of communications and improvement of post-discharge processes, remote care spanning General Surgery, Oncology, Orthopedics, as well as rehab programs such as Remote Cardiac Rehab, Remote Pulmonary Rehab and also the emerging specialty of Surgical Avoidance & Pain Management.
• IntelliTek Health’s Clinical Virtual Assistant (CVA) A fully integrated Ambient AI Scribe, AI Inbox Manager, with Referral and Revenue Automation making significant inroads into the $103BN Patient Encounter workflow market. The CVA is specifically designed for clinical teams that need to reduce administrative burden by up to 50% while making way for up to 17% improvement in patient thru-put. The CVA leverages AI technology, real-time speech recognition, regionalized large language models, and in-depth clinical decision support processes to assist clinical teams in their diagnosis with real time, actionable and contextual medical information empowering healthcare providers to make informed decisions quickly.
• IntelliTek Health’s Document Search AI swiftly and securely searches for and retrieves specified information from a myriad of document formats and repositories. The solution is voice-enabled and device agnostic to provide hands-free access to healthcare information from structured and unstructured formats across digital systems, documents and third-party sources at any time.

“This cooperation with BEN will enable both companies to offer a comprehensive suite of AI solutions for the healthcare industry, which is experiencing critical challenges surrounding workforce and resource availability,” said Martyn Molnar, CEO, Intellitek Products. “By broadening our customer base with this collaboration, we’re also broadening the reach of our solutions to a larger range of healthcare providers and patients – increasing access to life-saving AI technology.”

IntelliTek delivers highly curated products that automate over 2 billion interactions reaching more than 600 million global user end points. Alongside its parent company, SmarTek21, the company ensures seamless connectivity, with over 100 pre-built integrations, and support for all its AI-driven solutions that provides intelligent workflow automation across Healthcare, Telecommunications, Aviation, Finance, and global eCommerce Platforms.

“We’re proud to have found a likeminded ally in IntelliTek, as we both strive to elevate patient experiences and healthcare professional productivity with innovative AI technology,” said Paul Chang, CEO of BEN. “Together, our platforms can serve as an end-to-end suite of solutions that offer round-the-clock, instant support to improve both healthcare access and outcomes.”

For more information about BEN please visit: www.beninc.ai.

About BEN
Brand Engagement Network (BEN), NASDAQ: BNAI, is an emerging provider of safe and secure generative AI for businesses and consumers, headquartered in Jackson, WY. BEN’s full-stack platform, encompassing front-end, middleware, and back-end, is scalable, customizable, and can be fully optimized for superior CX, productivity, and performance. The backbone of BENs success is its rich portfolio of conversational AI applications, featuring 16+ perception, understanding and response modules that facilitate human-like engagements with consumers. BEN seeks to deploy scalable and sustainable AI solutions to businesses and partner with those with complimentary capabilities and networks in industries experiencing significant workforce gaps. In line with the vision of an AI-enhanced world, BEN strives to bring AI assistants to everyone who can benefit from them.

About Intellitek.ai
Intellitek, SmarTek21’s AI Product Subsidiary, is a global leader in Artificial Intelligence recognized by Gartner since 2018, offers Intelligent Technology Transformation for Fortune 500 clients and industry-leading enterprises worldwide. Our technology and services have driven billions in revenue for clients in Telecoms, Healthcare, Aviation, Retail, eCommerce, Insurance, and Banking. IntelliTek Health, a subsidiary of SmarTek21 LLC and a developer of clinical and patient-facing virtual assistant tools, focuses exclusively on bringing AI-enabled Productivity and Services to the healthcare industry. Find out more information at www.intellitekhealth.com, www.Intellitek.ai and www.smartek21.com.

Forward-Looking Statements
This communication contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are not historical facts, and involve risks and uncertainties that could cause actual results of BEN to differ materially from those expected and projected. These forward-looking statements can be identified by the use of forward-looking terminology, including the words “anticipates,” “believes,” “continue,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “projects,” “should,” “will,” or “would,” or, in each case, their negative or other variations or comparable terminology.

These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside BEN’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to, the risk factors that are described under the section titled “Risk Factors” in BEN’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q subsequently filed with the Securities and Exchange Commission.

BEN cautions that the foregoing list of factors is not exclusive. BEN cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. BEN does not undertake nor does it accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, and it does not intend to do so unless required by applicable law. Further information about factors that could materially affect BEN, including its results of operations and financial condition, is set forth under “Risk Factors” in BEN’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q subsequently filed with the Securities and Exchange Commission.

Media Contacts:
Dan Brennan, ICR
dan.brennan@icrinc.com

FAQ

What is the new partnership announced by Brand Engagement Network (BNAI)?

Brand Engagement Network (BNAI) has announced a contractual agreement with IntelliTek, a SmarTek21 subsidiary, to provide AI-driven healthcare solutions globally.

What AI solutions will be offered through the BNAI and IntelliTek partnership?

The partnership will offer BEN's Healthcare AI Assistant Sandy, IntelliTek Health's Personal Virtual Assistant (PVA), Clinical Virtual Assistant (CVA), and Document Search AI.

How might the BNAI and IntelliTek partnership impact the healthcare market?

The partnership aims to address challenges in the $70BN after-care communications market and the $103BN Patient Encounter workflow market, potentially improving patient experiences and healthcare professional productivity.

What potential benefits does the Clinical Virtual Assistant (CVA) offer according to BNAI's announcement?

According to the announcement, the CVA has the potential to reduce administrative burden by up to 50% and improve patient throughput by up to 17%.