MDW Blockchain Platform Announces AI Algorithm Marketplace
Medical Diagnostic Web introduces to its medical imaging blockchain platform, an artificial intelligence (AI) marketplace that enables radiologists to preview and purchase verifiable algorithms to enhance their practices. MDW will help AI vendors drive adoption of their technologies by providing a framework to allow radiology professionals to standardize evaluation of these algorithms. Imaging centers and hospitals will be able to conduct detailed searches for AI technology that meets their needs and access appropriate algorithms.
“We envision this marketplace as sort of an app store for algorithms. Using this feature, imaging centers and hospitals can shop for and assemble an entire library of medical imaging algorithms fine-tuned to their needs,” says Michael Averbach, MDW CEO. “Through a convenient, homogenized resource, they will be able to take advantage of a full range of artificial intelligence applications to streamline workflow and enhance patient care.”
MDW debuted its blockchain platform this fall as the first radiology offering designed to connect all players in the diagnostic digital imaging ecosystem to create an open, transparent and fair marketplace. Imaging facilities that employ the MDW platform own massive volumes of imaging data. The MDW platform enables them to monetize this data by making it available to AI product vendors in a form of anonymized, annotated datasets for algorithm training and verification.
“Using our platform, radiologists can get access to real working algos, imaging sites can monetize the volumes of data they store, and AI companies can access both the market to sell their wares and the quality datasets to build and improve their products,” explains Michael Yuz, MD, MBA, Chief Medical Strategist for MDW. “Given that we are already supporting development of AI technology, building a marketplace for its sale is the next logical step.”
With its open, decentralized infrastructure, encrypted data transmission and immutable audit trails, the MDW blockchain platform also enables individual radiologists and radiology groups to forge new business relationships and benefit from immediate compensation for services rendered. Radiology service organizations can easily take advantage of as-needed resources to transact with new clients, boost reading volume and decrease exam turn-around-time.