The global AI industry is growing at a rapid pace but a looming deadline could stall development across the world. The AI diffusion rule, unveiled by Former US President Joe Biden during his last week in Office, restricts the number of AI processors that can be exported to most nations. The rule will be effective on May 15th.
The goal is to ensure that AI development stays concentrated in the US and its close allies. American policymakers want AI data centers and infrastructure built elsewhere to comply with US security standards. If the US government implements the controversial framework, industry experts believe it could disrupt global infrastructure development plans and pose challenges for leading technology companies expanding in foreign markets.
When asked about export controls last week, Nvidia CEO Jensen Huang said that “we should continue to interact with the government,” so that “whatever policy they believe is best, is informed.”
Amid fears of the US taking control of global AI development, senior foreign officials and top tech companies urge the Trump Administration to reassess the semiconductor strategy. They are trying to persuade Trump’s team to ease some regulations before the compliance deadline.
“Left unchanged, the Biden rule will give China a strategic advantage in spreading over time its own AI technology, echoing its rapid ascent in 5G telecommunications a decade ago,” said Microsoft president Brad Smith last month.
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An executive in a suit checking a bank of computers symbolizing the technology of the financial services industry.
8. NANO-X Imaging Ltd. (NASDAQ:NNOX)
Number of Hedge Fund Followers: 7
Nano-X Imaging Ltd. (NASDAQ:NNOX) offers affordable medical imaging technologies powered by AI and a proprietary digital X-ray source. The company provides a multi-source digital tomosynthesis system, a suite of AI algorithms to augment CT imaging readings, and a cloud-based software platform to manage data collected by Nano-X devices.
On March 26th, Nano-X Imaging Ltd. (NASDAQ:NNOX) announced that its deep-learning medical imaging analytics subsidiary, Nanox AI Ltd., will present new data from the AI-enabled Detection of OsteoPorosis for Treatment (ADOPT) study at four upcoming medical conferences between March and June. Kassim Javaid, the lead investigator of the ADOPT study, will present data from the study showcasing the clinical utility of the AI bone solution in assessing bone health and tracking key indicators of osteoporosis. The study results will also focus on the economic benefits AI tools could bring to healthcare. The ADOPT study revealed that AI-enabled Fracture Liaison Services, enhanced with other improvements, lowered patient refracture rates by up to 10%. Nanox AI’s more recent version of the AI bone solution, HealthOST, is FDA-cleared and was developed after the initiation of the ADOPT study. It offers better precision in measuring fractures.
“These conferences provide an important opportunity to share our growing body of evidence supporting the clinical value of AI in transforming bone health assessment. With osteoporosis affecting hundreds of millions worldwide, our AI solution is demonstrating the potential to significantly improve early detection rates and enhance patient care pathways.”
-said Orit Wimpfheimer, chief medical officer of Nano-X Imaging Ltd.
7. Spectral AI Inc. (NASDAQ:MDAI)
Number of Hedge Fund Followers: 7
Spectral AI Inc. (NASDAQ:MDAI) is a predictive AI company that leverages its DeepView System for medical diagnostics to provide faster and more accurate treatment in wound care, focusing on patients with burns. The DeepView System is being developed to help clinicians assess the healing potential of a burn wound before treatment at machine speed, reducing healthcare costs and improving patient outcomes.
On March 24th, Spectral AI Inc. (NASDAQ:MDAI) announced closing a debt financing agreement of up to $15 million from Avenue Venture Opportunities Fund II. It also raised $2.7 million of equity financing from investors to accelerate commercialization efforts for its products, including the upcoming launch of the DeepView System in the US.
“This significant financing provides Spectral AI with the resources necessary to finalize our commercialization efforts and bring our cutting-edge DeepView System across the finish line to the U.S. market. We are excited to be working with Avenue Capital and expect the partnership to provide long-term benefits to the Company. This supports our efforts to bring our technology to market and transform the way healthcare providers predict burn wound healing potential and ultimately improve patient outcomes.”
-said J. Michael DiMaio, chairman of the board of directors of Spectral AI Inc.
