MyFiziq continues to advance in-device capabilities
MyFiziq Limited (ASX: MYQ) has made further advancements in the company’s new in-device technology capabilities.
This looks set to continue the company’s momentum as management has successfully forged new relationships with complementary technologies while also developing and improving its own capabilities.
The company’s shares have increased three-fold in the last month, but with numerous catalysts on the horizon MyFiziq shapes up as a story that is still unfolding.
The company has developed and patented a proprietary dimensioning technology that enables its users to check, track, and assess their dimension using only a smartphone privately and accurately.
Device-based health triage provider
This new capability further entrenches MyFiziq’s position as a device-based health triage provider with technologies that assist a wide range of medical professionals and healthcare providers, as well as aligned industries such as medical insurers.
The benefits of personal and remote diagnostic health systems are becoming increasingly recognised as a result of coronavirus isolation with momentum being maintained by second waves of COVID necessitating further isolation, driving global demand for MyFiziq’s technologies.
However, the other part of the story is that consumers have found this technology so beneficial that similar to the transition to work from home devices, they are becoming an integral part of life as a convenient adjunct and monitoring median to formal health, exercise and wellness consultations.
MyFiziq has developed the world’s first artificial intelligence and machine learning models that are able to mimic an individual’s medical images pertaining to body composition (including body fat percentage) via mobile device image capture.
While the predicated medical images are not a 100% replacement of an actual medical scan such as Dual Energy X-ray Absorptiometry (DEXA), they are highly correlated and representative of the actual DEXA scans performed on the medical imaging machine.
Near 100% correlation with DEXA images
Preliminary analysis of developed models, has shown that the predicated tissue and body fat medical images that MYQ is able to generate have an average correlation of 95% and up to 97% in subjects with BMI of 35 or above, when compared to actual DEXA images, when ideal conditions are met.
Importantly, the relative body composition distribution is very promising, especially when a user wishes to track their fat or tissue distribution across their body at a single point in time.
This capability enables a user to not only be given their total body fat percentage, but also where that body fat is distributed across the individual’s body at any point in time.
This breakthrough is the result of MyFiziq’s world-class machine learning team and researchers in the area of computer vision, sport science, exercise, health and fitness, and its unique global collection of datasets of human imagery and medical scans obtained over the past three years.
This unique data set and image capturing system puts MyFiziq at the forefront with respect to other competitors attempting to develop similar capabilities to the MyFiziq patented technology.
Every picture tells a story
The example images depict the actual outputs of the machine learning models.
As seen in the first image, MyFiziq’s state-of-the-art technology can extract 3D-like features just from the user’s standard mobile device images.
However, the technology does not stop at this level because it further predicts the body composition imagery.
The technology utilises the trained models based on MyFiziq’s real-world unique data sets and by correlating the complex relationships between human body characteristics, biometrics, forensics and imagery and their DEXA-represented images.
This new capability has been developed and rigorously tested by the MyFiziq machine learning team led by Dr. Amar El-Sallam and Dr. Neeraj Dhungel, who are the expertise behind the building and implementation of the new protocols.
Technology benefits from thousands of collected medical images
The team has been enhancing the internally collected machine-learned DEXA imagery utilising thousands of individually collected medical images throughout the past 3 years.
This imagery was then trained within the company’s data to identify and mimic the real-time DEXA imagery from this highly expensive medical imaging machine.
Real data was captured using the MyFiziq technology to further enhance the existing model identification and relationships between the data and the human form.
This was followed by rigorous testing across thousands of participants where both DEXA imagery and on-device capture was used to draw a conclusion which has demonstrated 95% accuracy between the MyFiziq DEXA mimicking and DEXA medical imagery and up to 97% in subjects with BMI of 35 or above.
Indicating the immediate demand that is likely for this new capability, MYQ chief executive Vlado Bosanac discussed the high levels of enquiries and new partner opportunities centring around this technology in saying, “This new capability has been part of our planned advance strategy for the last 2 years.
‘’We accelerated the rollout due to the increase that we have seen in the Telemedicine and Telehealth industry due to the COVID 19 pandemic.
‘’We are addressing an immediate need posed by incoming enquiries and new partner opportunities.
‘’The company, for want of a better explanation, is becoming a device-based health triage provider by allowing insurers, medical professionals and healthcare providers to use an advanced tool that demonstrates an individual’s risk markers with speed and convenience.
‘’MyFiziq assists in directional decision-making by health professionals at all levels.
‘’We expect to bring this additional capability to smartphone devices for our partners in early 2021.”