Breast cancer impacts 21 million women each year worldwide, among which 1 in 8 women will develop invasive breast cancer in their lifetime. In these circumstances, accurate detection and prevention cannot be compromised as it is estimated to have a 98% survival rate if detected early.
Pertaining to the hope, Prognica Labs is committed to the advancement of technology that will improve breast cancer survival rates worldwide. Its AI-powered platform, PrognicaMMG and PrognicaUSG analyze medical images and generate medical reports from anywhere, thus enabling accurate and early detection of breast cancer.
In an interview with Insights Care, Khalid Shaikh, Founder and CEO, talks about the company’s innovative solutions for saving, celebrating and leading the fight against breast cancer.
Following are the excerpts from the interview:
Please brief us about Prognica Labs and its inception.
The idea for Prognica Labs was born out of my personal experience with breast cancer survivors and a strong passion for working toward society. I realized that there was a significant need for more accurate and accessible breast cancer detection solutions, especially in developing countries where resources are limited.
To address this need, I founded Prognica Labs with a mission to develop innovative solutions that would help doctors and patients detect breast cancer early and accurately. The company’s current products, PrognicaMMG and PrognicaUSG, are AI-powered breast cancer detection solutions that use deep learning algorithms to analyze mammograms and breast ultrasound to identify suspicious lesions with high accuracy.
What are the key products and services offered by the company and how is it impacting the demographic concerned?
Prognica Labs is a medical technology company that specializes in developing AI-powered diagnostic tools for breast cancer detection and treatment. The key products and services offered by Prognica Labs include:
- Personalized breast cancer risk assessment: Prognica Labs’ web-based platform uses advanced machine learning algorithms to analyze mammogram and ultrasound to provide breast cancer diagnostic and risk assessment. This can help healthcare providers identify individuals who may benefit from earlier screening or more frequent check-ups.
- Computer-aided detection (CAD) software: Prognica Labs has developed CAD software for mammography that uses machine learning algorithms to analyze medical images and flag areas that may need further examination. This can help radiologists save time detecting abnormalities or signs of cancer that may be difficult to detect with the naked eye.
The impact of Prognica Labs’ products and services is significant for the demographic concerned. By using AI technology to improve the accuracy and efficiency of breast cancer detection and treatment, Additionally, our CAD software can help radiologists detect abnormalities that may be difficult to detect with the naked eye, leading to earlier diagnosis and better patient outcomes.
Overall, Prognica Labs’ products and services have the potential to make a significant impact in the fight against breast cancer, ultimately saving lives and improving outcomes for patients.
What are the core values of the company? How are you driving the company to achieve its mission and vision statement?
As an AI-powered medical technology company specializing in breast cancer detection and diagnosis, Prognica Labs is guided by the following core values:
- Innovation: Prognica Labs is committed to driving innovation in breast cancer detection and diagnosis by leveraging the latest advancements in artificial intelligence and machine learning.
- Accuracy: Prognica Labs prioritizes accuracy in all of its products and services, ensuring that patients receive the most reliable and precise breast cancer diagnosis recommendations possible.
- Patient-centricity: Prognica Labs places the patient at the center of everything it does, working to improve patient outcomes and experiences through its technology and services.
- Ethics and integrity: Prognica Labs operates with the highest level of ethical standards and integrity, prioritizing patient privacy and security in all aspects of its business.
To achieve its mission and vision of improving breast cancer detection and treatment through AI-powered solutions, Prognica Labs is driven by a number of strategies and initiatives. These include:
- Investing in research and development: Prognica Labs invests in research and development to stay at the forefront of the latest advancements in AI and machine learning for breast cancer detection and diagnosis.
- Partnering with healthcare providers and organizations: Prognica Labs collaborates with healthcare providers and organizations to expand access to its technology and services and to ensure that its products are meeting the needs of patients and healthcare providers.
- Focusing on quality and accuracy: Prognica Labs prioritizes quality and accuracy in all of its products and services, working to continually improve the reliability and precision of its breast cancer detection and diagnosis solutions.
- Promoting awareness and education: Prognica Labs is committed to raising awareness and educating the public about the importance of breast cancer screening and early detection, working to increase screening rates and improve outcomes for patients.
What are the key challenges in the industry and how are you turning them into opportunities for growth?
Some of the key challenges that Prognica Labs faces include:
- Regulatory compliance: The healthcare industry is heavily regulated, and it can be difficult to navigate complex regulatory requirements, particularly when it comes to developing and deploying AI-powered solutions.
- Data privacy and security: Healthcare providers must comply with strict data privacy and security regulations to ensure patient information is kept confidential and secure. This can be particularly challenging when working with large amounts of medical data, as is often the case in the field of cancer detection and treatment.
- Limited access to data: While there is a wealth of medical data available, it can be difficult to access and use this data for research and development purposes. This can make it challenging to develop accurate and effective AI-powered solutions.
To address these challenges and chart Prognica Labs’ growth upwards, I am infusing my leadership skills in the following ways:
- Building strong partnerships: I am working to build strong partnerships with healthcare providers and organizations, as well as regulatory bodies, to ensure that Prognica Labs’ AI-powered solutions are compliant with regulations and can be effectively deployed.
- Prioritizing data privacy and security: I am committed to prioritizing data privacy and security in all of Prognica Labs’ products and services, working to ensure that patient information is kept confidential and secure.
- Investing in research and development: I am focused on investing in research and development to improve the accuracy and effectiveness of Prognica Labs’ AI-powered solutions, even in the face of limited data access.
- Nurturing a culture of innovation: I am working to create a culture of innovation within Prognica Labs, encouraging all team members to think creatively and take risks to drive the company’s growth and success.
What are the future goals of the company? How does it envision scaling up its operations and reach in 2023 and beyond?
At Prognica Labs, our vision is to transform breast cancer detection and treatment through the power of AI. To achieve this vision, our future goals include—Expanding our product portfolio, increasing our reach, enhancing the accuracy and effectiveness of our solutions, and addressing new markets.
Our goal is to continue to lead the way in AI-powered breast cancer detection and diagnosis, driving better outcomes for patients and transforming the way cancer is diagnosed and treated around the world.
Give us a few testimonials or recognition that accurately highlight your company’s position in the market.
Prognica Labs has received several awards and recognition that highlights its position as a leader in AI-powered breast cancer detection solutions within the healthcare industry. Some of these include:
- Arabian Business Achievement Award 2023 in Science and Medicine.
- World Economic Forum 2022 as Global innovator/contributor for Youth Mental Health Challenge
- Etisalat SMB Award 2021 for Best Artificial Intelligence Startup.
- Tahawultech Transformational Leadership Awards 2021 for Best Deployment of Machine Learning in Healthcare.
- Tahawultech Transformational Leadership Awards 2019 for Technology Rising Star of the Year.
- Ras Al Khaima Business Excellence Awards 2019 for Best Startup of the Year.
CEO’s Journey: In His Own Words
I’m the founder and CEO of Prognica Labs, a healthcare technology company that specializes in developing AI-powered solutions for breast cancer detection and treatment.
Here’s a brief overview of my professional journey so far:
I’m a serial entrepreneur, author, technocrat, and business strategist. I’m also the founder and CEO of Prognica Labs, an artificial intelligence-powered health-tech company. For this, I have received numerous awards for his innovations in healthcare.
In addition to my professional commitments, I also give back to the aspiring entrepreneur community by serving as an advisor and mentor.
I have published and lectured extensively on healthcare performance improvement, digitalization and innovation, and authored the book: Artificial Intelligence in Breast Cancer Early Detection and Diagnosis, and several research articles published in peer-reviewed journals. I’m also an Advisory board member for a few startups.
Since its inception, Prognica Labs has become a leading player in the healthcare technology industry, with a strong focus on AI-powered breast cancer detection solutions. My leadership and vision have been instrumental in the company’s success and I continue to drive innovation and growth, while remaining committed to improving patient outcomes and making healthcare more accessible and affordable for all.
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