VEON's Beeline and Leading Medical Institute Join Forces to Redefine Future of Medical Diagnostics Through AI

Rhea-AI Summary

VEON Ltd. (NASDAQ: VEON) has partnered with Sechenov University to launch an Artificial Intelligence Laboratory in Russia. This initiative aims to enhance healthcare technologies, focusing on predictive medicine in traumatology and oncology. Over 120 professionals from both organizations will collaborate on projects to improve high-precision diagnostics. The laboratory seeks to leverage AI for better diagnostic accuracy and treatment predictions based on extensive medical data analysis. This move marks a step toward innovative healthcare solutions and aims to integrate AI into the Russian healthcare system.

Positive

• Partnership with Sechenov University for AI Lab development.
• Collaboration involves over 120 experts, enhancing research capabilities.
• Focus on predictive medicine could lead to significant healthcare advancements.
• Potential for improved diagnostic accuracy and treatment personalization.

Negative

• None.

AMSTERDAM, Oct. 12, 2021 /PRNewswire/ -- VEON Ltd. (NASDAQ: VEON) (Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, today announces that its mobile operator in Russia, Beeline, has signed an agreement with Sechenov University to create an Artificial Intelligence (AI) Laboratory for research and development into new technology solutions for healthcare, aiming to simplify and accelerate high-precision diagnostic. 

The new AI Laboratory will see data scientists and doctors collaborate on research and development of predictive medicine solutions in traumatology and oncology. Over 120 professionals from Beeline and Sechenov University, including data scientists, solution architects, neural network programmers and medical experts, will be involved in the new AI Lab to provide a critical mass of expertise. The AI Labs will undertake specific research programmes, scientific exchange and staff secondments, with IT infrastructure provided by Beeline's datacentres. 

"Technology based on artificial intelligence is transforming modern medicine," states Kaan Terzioglu, CEO of VEON Group. "We have invested in AI at the core of our digital operator businesses and are proud of our contribution to the development of state-of-the-art technology. This will be a game-changer in the way we support medical institutions, save lives and keep people healthy throughout their lifetime." 

"This joint AI Lab will enable smart software solutions to be trained by findings from some of the best doctors in the industry and so help to significantly simplify and expedite high-precision diagnostics processes," said Evgeny Chereshnev, Executive Vice President of Beeline for Digital and New Business Development. "This greatly increases the chances of successful treatment of patients, and sometimes, literally saves lives. Our partnership with Sechenov University is a new direction for Beeline which is already yielding results. Sechenov's experts are some of the best in the world, and we are delighted to be working with them to develop and apply high-tech solutions." 

"Our partnership with Beeline began earlier this year. In particular, we focused on the study of joint pathology in the framework of Laboratory of Smart Nanotechnology for Clinical Applications supported by Megagrant from Ministry of Science and Higher Education of the Russian Federation. Based on the analysis of more than 4,000 medical records, we managed to create a model that determines the type of pathology and its localization with over 80% accuracy. This technological solution can help doctors significantly accelerate the process of diagnosing joint pathologies and its accuracy, and also makes it possible to predict the possible disease, track the effectiveness of treatment and dynamically make adjustments to it. For a patient, this can open the way for timely help and medical treatment instead of surgery," explains Petr Glybochko, Academician of the Russian Academy of Sciences, prof., MD, Rector of the Sechenov University. "The next step would be to work with the Russian healthcare system to test AI diagnostics in a clinical environment. In the future, we plan to extend our work to the field of cardiology, immunology, pulmonology and post-covid therapy." 

"The development of AI solutions in medicine and their introduction into practical healthcare will enable the solving of complex diagnostic problems at a new level. New software solutions, based on the use of neural networks and artificial intelligence will be integrated in electronical medical records for the Russian Healthcare System. The project will create a collaboration of IT engineers and medical experts that builds the preconditions for a real technological breakthrough.  This can enable the creation of "digital twins" and their introduction into clinical practice. This is one of the main directions of development of Sechenov University within the framework of the Priority 2030 project, which will be implemented thanks to the cooperation of specialists from Sechenov University and VEON's Beeline," said Petr Glybochko, Academician of the Russian Academy of Sciences, prof., MD, Rector of the Sechenov University.

About VEON  

VEON is a NASDAQ and Euronext Amsterdam-listed global provider of connectivity and digital services. Our companies are transforming lifestyles through technology-driven services that empower opportunity in some of the world's fastest-growing emerging markets. For more information, visit: https://www.veon.com   

About Sechenov University 

Sechenov University is the oldest medical school in Russia. Currently, it has more than 21,000 students (20% international). Teaching and research staff (2,263 people) work at 115 departments. Sechenov University has 23 research institutes, 6 of them form the Biomedical Science and Technology Park. Sechenov University offers courses in clinical medicine (general medicine, paediatrics, dentistry), preventive medicine, pharmacy, nursing, social work, public health, management, medical biophysics, medical biochemistry, biotechnology, bioengineering and bioinformatics, clinical psychology, defectology, linguistics, mathematical modelling, IT, and materials science. 

Disclaimer  

This release contains "forward-looking statements", as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, expectations regarding management plans and future performance. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events. 

Contact Information  

Marina Levina 
VEON Group 
Group Communications Director 
Marina.levina@veon.com 

Julian Tanner 
TUVA Partners 
julian.tanner@tuvapartners.com 

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SOURCE VEON Ltd

FAQ

What is the purpose of VEON's AI Laboratory with Sechenov University?

The AI Laboratory aims to enhance healthcare through research in predictive medicine, particularly in traumatology and oncology.

How many professionals will be involved in the VEON and Sechenov University AI project?

Over 120 professionals from both organizations will collaborate on this initiative.

What sectors will the new AI solutions target in healthcare?

The AI solutions will initially focus on traumatology and oncology, with plans to expand into cardiology, immunology, and other fields.

What are the expected outcomes of the partnership between VEON and Sechenov University?

The partnership aims to improve diagnostic processes and treatment methods using AI technologies.

What is VEON's stock symbol and exchange listing?

VEON is listed on NASDAQ under the stock symbol VEON and on Euronext Amsterdam.