Neuroscience Research Watch Walk AI License
| Stock | Spacetalk Ltd (SPA.ASX) |
|---|---|
| Release Time | 6 Mar 2025, 9:17 a.m. |
| Price Sensitive | Yes |
Spacetalk licenses AI algorithm to detect health risks
- Exclusive worldwide license for AI algorithm 'Watch Walk' to detect serious health conditions
- Incorporates AI into new SaaS and subscription products for care providers, insurers and consumers
- Enables early detection of conditions like dementia, depression, stroke, heart attack and falls
Spacetalk Ltd (ASX:SPA) has signed an exclusive, worldwide license for the 'Watch Walk' AI algorithm developed by a team at Neuroscience Research Australia (NeuRA) and the University of New South Wales. The AI algorithm can detect serious health conditions like dementia, depression, stroke, heart attack and injurious falls from wearable device data. Spacetalk plans to incorporate the Watch Walk AI into new Software-as-a-Service (SaaS) and Subscription App products for care providers, insurers and consumers. This license agreement is part of Spacetalk's transformation from a kids' wearables business to a data-led predictive analytics and subscription software company. The Watch Walk AI was developed by Dr. Lloyd Chan, Prof. Stephen Lord and A/Prof. Matthew Brodie, who are leaders in neuroscience research. The license agreement includes a nominal upfront fee, royalty payments based on gross margin, and development milestones. Spacetalk expects to launch products incorporating the Watch Walk AI during the 2026 financial year, pending development and regulatory approvals. This technology enables Spacetalk to address large and rapidly growing markets, including the global seniors care AI market and the global wearable AI market. Early detection of serious health conditions can deliver significant economic and health benefits, such as potential savings of $7.9 trillion in Alzheimer's disease healthcare costs in the US and up to £44,900 per person per year in dementia care costs in the UK.
Spacetalk expects to launch new SaaS and subscription products incorporating the Watch Walk AI algorithm during the 2026 financial year, pending development and regulatory approvals. The company aims to extend the application of the technology to a broader range of users, from frail older people to younger populations.