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AVENTURA, Florida, August 06, 2021 (GLOBE NEWSWIRE) – Life Clips, Inc. (OTC Pink: LCLP) (the “Companyâ€) today announced that its subsidiary Cognitive Apps Software Solutions has unveiled Aiki, an interactive software based on AI. assistant that makes it easy to measure, understand and improve employee mental health. Aiki was developed to capitalize on the trend of artificial intelligence platforms being used by employers to raise awareness about employee mental health.
Aiki will target corporate users who want to use Cognitive Apps voice biomarkers to target improving employee mental health. Many employers have found that their employees feel overwhelmed by the pandemic, social estrangement from colleagues and friends, and forgoing reliable daily routines. According to a recent survey conducted by the National Institute for Health Care ManagementI 51% of people said their mental health had deteriorated at work since the onset of COVID-19, creating a huge need for improved and expanded employee mental health initiatives.
Cognitive Apps for Aiki’s target audience is medium to large companies with over 500 employees in the United States, Canada and the United Kingdom. The total addressable market (TAM) of the enterprise healthcare market is estimated at $ 61 billion. The Available Market Served (SAM), which includes the Health Risk Assessment and Stress Management segment, is estimated at $ 23 billion. 80% of small businesses in the United States now use HR software or plan to use it within one to two years, according to Capterra. In a 2019 artificial intelligence survey, Gartner said 17% of organizations are using AI-based solutions in their HR function and 30% will do so in 2022. US companies spend $ 100 billion a year to eliminate the consequences of employee burnout and depression instead of preventing such conditions, according to Forbes.
The Aiki solution is based on the analysis of the tone of voice and the analysis of the context processed by the AI ​​of Cognitive Apps. Aiki’s chatbot interaction includes general mood analysis, emotion detection, mental health tracking, multi-day classes, and interactive content. Aiki will benefit a business by monitoring a company’s overall mental health level, detecting early signs of burnout, depression and anxiety.
According to a recent Forbes articleii, Ginger, an on-demand mental health technology platform founded by a team of entrepreneurs and data scientists from the MIT Media Lab, released its third annual report on workforce attitudes toward health mental. According to Forbes, Ginger surveyed more than 150 CEOs to find out how they viewed the mental health of workers during the pandemic.
Here are some of the CEOs’ conclusions:
- 80% of CEOs believe that poor employee mental health has a negative impact on worker productivity.
- 94% of CEOs report having received mental health support themselves in the past year.
- More than half of CEOs say that talking about mental health makes them a better leader (and almost 90% of employees like it), even though 56% of them fear it could affect their credibility.
- 92% of CEOs say their companies are focusing more on mental health in the wake of the pandemic.
Dr Manideep Gopishetty, CEO and Co-Founder of Cognitive Apps, said: “Aiki is the first of many AI-based products using our voice biomarkers that will be aimed at businesses. Over the next five years, the Cognitive Apps team plans to create an ecosystem of products designed to improve the quality and accessibility of predictive mental health analytics. Our global plan includes creating autonomous and integrated solutions for businesses and individuals, which include wearable devices, smart devices and cloud technologies that scale at high speed. Our goal is to harness the power of all the technologies listed and improve the analytics core of cognitive applications to become the industry leader in preventive analytics.
Cognitive Apps currently uses voice biomarkers for mental health monitoring to identify warning signs of mental health issues to enable early intervention with preventive care to determine the underlying causes of stress, anxiety and burnout and to suggest an appropriate treatment plan for cases requiring special attention. .
Robert Grinberg, CEO and President of Life Clips, Inc. said, “Dr. Gopishetty and his team are making major breakthroughs in commercial product development around their research in the voice biomarker space. We are delighted that Aiki is scheduled for release by the end of this month. ”
About Life Clips, Inc.
Life Clips is the parent company of Cognitive Apps Software Solutions Inc. and distributes single-use and cordless batteries under the Mobeego brand for use with cell phones and other mobile devices. Cognitive Apps is an AI-powered mental health analytics platform that enables businesses to measure, understand, and improve the mental well-being of their employees, patients, and customers. Drug development for mental health and other cognitive disorders is hampered by the inability to identify risk groups prior to the onset of clinically significant symptoms, as well as ongoing assessments of participants’ progress. . Cognitive Apps is tackling this problem by developing speech-based AI technology that could help accurately predict the risk of various types of depression and mood and anxiety disorders years before. that a clinical diagnosis is obtained. Our technology can help detect and monitor subtle changes in mental state by assessing individuals more frequently and more objectively than assessments used today.
Disclaimer regarding forward-looking statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. “” anticipates “,” plans “,” predicts “,” estimates “,” aims “,” believes “,” hopes ” “,” Potential “or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the control of the Company, and cannot be predicted or quantified and, therefore, actual results may differ materially from those expressed or implied by these forward-looking statements: (i) the initiation, timing, progression and results of the Company’s research, manufacturing and development efforts; (ii) the Company’s ability to advance its products to successfully complete development and commercialization; (iii) the manufacture, development, marketing and market acceptance of the Company’s products; (iv) lack of sufficient funding to finance product development and business operations; (v) competitive companies and technologies within the Company’s industry and the introduction of competing products; (vi) the Company’s ability to establish and maintain corporate collaborations; (vii) loss of key management personnel; (viii) the extent of protection that the Company is able to establish and maintain for intellectual property rights covering its products and its ability to conduct business without infringing the intellectual property rights of others; (ix) potential non-compliance with applicable health information privacy and security laws and other federal and state privacy and security laws; and (x) the difficulty of predicting the actions of the US FDA and its regulations. All forward-looking statements included in this press release are made only as of the date of this press release. The Company assumes no obligation to update any written or oral forward-looking statement, except as required by law.
For Investor Relations of Life Clips, Inc., please contact:
David Kugelman
(866) 692-6847 Toll free – United States and Canada
(404) 281-8556 Mobile, WhatsApp, Signal and Telegram
Skype: kugsusa
[email protected]
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I https://nihcm.org/publications/covid-19s-impact-on-mental-health-and-workplace-well-being
ii https://www.forbes.com/sites/jackkelly/2021/03/26/its-time-for-companies-to-focus-on-helping-employees-with-their-mental-health-and-well- be /? sh = 255ca08944a1
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