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🤖 🏥 How Robots and Artificial Intelligence Are Saving Lives in Los Angeles Hospitals
dot.LA Weekly Update
Christine Rothacker
May 03, 2024
🔦 Spotlight
Image Source: Children’s Hospital Los Angeles
The integration of robots and artificial intelligence (AI) is transforming healthcare in Los Angeles, with hospitals increasingly employing these technologies to enhance patient care and operational efficiency. According to a Morgan Stanley report from August 2023, 94% of healthcare companies are utilizing AI or machine learning (ML), with the industry's budget allocation for AI and ML projected to double from 5.7% in 2022 to 10.5% this year. These technologies are being used for various applications, from autonomous robots delivering medications to AI systems predicting emergency room wait times and identifying life-threatening infections like sepsis (the third most common cause of death in U.S. hospitals).
Institutions like City of Hope are pioneering AI applications in healthcare, such as real-time clinical decision support tools. City of Hope's sepsis prediction model utilizes AI to monitor patients and detect subtle changes in their vitals, providing early alerts to medical staff, which has led to decreased ICU admissions and improved patient outcomes. Similarly, Antelope Valley Medical Center has implemented autonomous robots like Diligent Robotics Inc.'s Moxi to streamline medication and lab deliveries, reducing staff workload and enhancing efficiency.
Cedars-Sinai is leveraging AI through its CS Connect app, utilizing a chatbot to interact with patients and assist in scheduling appointments and providing diagnostic insights to physicians. Moreover, the hospital is actively combating AI bias to ensure fair and accurate treatment across patient demographics. UCLA Health's Robotic Surgery program, led by Dr. Mark Girgis, has been utilizing robotic surgery for over seven years, offering enhanced recovery, less pain, and shorter hospitalizations for patients. Girgis highlights the benefits of competition driving down costs and improving accessibility to robotic surgery platforms, such as the Da Vinci surgical systems.
The widespread adoption of AI and robotics in Los Angeles hospitals not only represents significant advancements in healthcare but also offers opportunities for the city's tech industry. Hospitals like Cedars-Sinai and Children's Hospital Los Angeles are leading the way with innovative AI-driven solutions. As a result, LA has the potential to attract top health tech talent, bolstering its growing health tech sector.
🤝 Venture Deals
LA Companies
Diddo, a startup that uses computer vision to identify products in videos and enables viewers to purchase products seen on screen without leaving the video, raised a $2.8M Seed Round led by Link Ventures - learn more
Shinkei Systems, a developer of fish-processing tech, raised a $6M Seed Round led by Cantos and joined by 8VC, Impatient Ventures, Susa/Humba Ventures, Carya Venture Partners, Ravelin Capital, Red & Blue Ventures, and Undeterred Capital - learn more
Moso, a shop-to-earn crypto rewards startup, raised a $2M Seed Round from Symbolic Capital, Dao5, Coinlist, and Polygon Ventures - learn more
Holograph, a startup whose platform enables the creation and management of tokens that can operate across multiple blockchain networks, raised an $11M funding round co-led by Mechanism Capital and Selini Capital, with Northrock Capital, Arca, Courtside Ventures, and Hartmann Capital also stepping up - learn more
LiNova Energy, a developer of polymer cathodes for batteries, raised a $15.8M Series A led by Catalus Capital and joined by Saft - learn more
Altruist, a custodian for RIAs, raised a $169M Series E led by Iconiq Growth and joined by Granite Capital Management in addition to insiders Adams Street Partners and Sound Ventures - learn more
LA Exits
Insight Treatment Programs, a provider of teen outpatient programs for mental health and addiction treatment in Southern California was acquired by Torrance, CA-based Your Behavioral Health, a portfolio company of Comvest Partners - learn more
SameSky Health, a patient engagement company merged with Tampa, FL-based GroundGame.Health, a startup linking community-based organizations with health plans and providers. After they combined the company raised a $17M funding round led by 7wireVentures - learn more
Viking Holdings Ltd, a cruise operator based in Woodland Hills raised $1.5B in its IPO. On Wednesday Viking (VIK) closed at $26.10, 9% higher than the IPO price ($24) - learn more
📖 What We’re Reading
Triller Corp., the Hollywood rival to TikTok, is being bought in an astounding $4 billion deal by AGBA Group Holding Ltd - learn more
Despite the somewhat bleak gaming venture landscape, Santa Monica's Griffin Gaming Partners gears up for expansion, tapping into Hollywood's top talent and exploring new avenues in IP licensing and investment - learn more
Sony and Apollo bid $26 billion for Paramount Global, intensifying the competition for the renowned film and TV company - learn more
Rivian will receive an $827 million incentive package from Illinois to expand its manufacturing plant - learn more
SAG-AFTRA partners with Nielsen for third-party streaming content measurement, ensuring transparency and accuracy in tracking hits on platforms like Netflix and Prime Video - learn more
New platform, ProdPro Network, aims to help Hollywood crew members find work - learn more
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