Business Excellence Awards 2024

8 | Acquisition International, Business Excellence Awards 2024 difference in people’s lives through medical innovation. They must also value teamwork, thrive in a collaborative environment, and foster open communication and knowledge sharing. Additionally, they must be a lifelong learner: with the field of AI constantly evolving, each team member must value a growth mindset as well as possess a hunger for continuous learning in order to stay ahead of the curve. “At the heart of PathFree’s recent success is the AiCart, a proof-ofconcept prototype that epitomises the company’s commitment to innovation and technological excellence. This flagship device, along with the anticipation of three additional groundbreaking medical devices within the year, has played a pivotal role in propelling PathFree’s valuation from a commendable $112,000,000 to an astonishing $1,050,051,741 in just seven months. This valuation leap underscores the potential of PathFree’s technology to transform emergency medical care, earning the trust and interest of investors and strategic partners alike ” Therefore, they must be willing to tackle any obstacle that comes their way. Constantly innovating within the ever-shifting field of medical AI, this means that, as successful as the team are, it’s not to say that their work doesn’t come without its hurdles. They see challenges as exciting, always eager to face them head on and find new ways to solve the problem. Current challenges that the team are enjoying getting their teeth stuck into include data privacy and security; AI bias and explainability; integrating the technology with client medical systems; and the regulatory landscape. In terms of data privacy and security, medical data is very sensitive, thus it is highly important to ensure compliance with patient privacy when collecting and utilising data for machine learning. PathFree works hard to prioritise cybersecurity measures and adheres strictly to HIPAA regulations. Then, there is AI bias and explainability, where machine learning can inherit biases from the data they train on. PathFree actively mitigates bias through diverse data sets and explainable AI techniques to ensure its recommendations are fair and transparent to medical professionals who are utilising the technology. It is also a task to integrate PathFree’s technology seamlessly with clients’ existing medical systems, with existing hospital workflows and electronic medical records (EMR) being essential for adoption. PathFree is sure to collaborate with healthcare providers to execute a smooth integration process every time.