SANTA CLARA, Calif., Nov. 30, 2017 /PRNewswire/ -- Based on its recent analysis of the artificial intelligence-based digital pathology solutions market, Frost & Sullivan recognizes Fimmic Oy (Fimmic) with the 2017 European New Product Innovation Award for its proprietary WebMicroscope® Platform, a cloud-based image analysis solution that uses deep learning artificial intelligence (AI) to analyse digital pathology samples.
"Fimmic's WebMicroscope is a first-of-its-kind software solution in the European image analysis market that operates as an extremely advanced version of the conventional method," said Supratik Paul, Senior Industry Analyst.
The company's WebMicroscope platform works on the principle of AI-based deep learning algorithms for automatic image analysis. Once the system is trained on what to detect in the scanned tissue images, it can be used to analyse new samples and bring quantitative and qualitative information for human verification. Frost & Sullivan recognises Fimmic's WebMicroscope as a premier image analysis platform that delivers rapid automation of complex image analysis tasks with superior accuracy and sensitivity. Conventional methods require a pathologist to visually view and analyse each sample, which is time-consuming and prone to human error. WebMicroscope speeds up the workflow significantly, while providing consistent analysis. WebMicroscope's high-performance image processing and storage services are directly accessible via the end-user's web browser, eliminating the need for local data centers or for extensive IT team involvement.
Frost & Sullivan finds that Fimmic's software-as-a-service model is an industry-first in meeting the needs of customers with low-volume, case-by-case use of digital pathology systems, as well as customers who prefer to avoid the significant upfront capital investment installation costs required by traditional systems. The annual subscription for the tool is competitively priced, and users are charged based on use. In the near future, Fimmic also plans to collaborate with microscopy scanner manufacturers, and other ecosystem players, which will expand the services the company can offer to its customers.
"Fimmic's groundbreaking WebMicroscope platform allows users to experience superior process automation, along with significant improvement in analysis accuracy. The company also plans to apply for the CE mark for its WebMicroscope platform to make it available for diagnostic use in Europe under the EU In-Vitro Diagnostics Directive, allowing the company to further its reach with its innovative, future-ready products," said Paul.
Each year, Frost & Sullivan presents this award to the company that has developed an innovative element in a product by leveraging leading-edge technologies. The award recognizes the value-added features/benefits of the product and the increased return on investment (ROI) it gives customers, which, in turn, raises customer acquisition and overall market penetration potential.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
Fimmic, founded in 2013, is a spin-off company from the Finnish Institute for Molecular Medicine at the University of Helsinki. Their next-generation WebMicroscope AI Platform was launched in spring 2017 and has since been used in a wide range of image analysis applications globally.
For more information, please visit www.webmicroscope.com
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SOURCE Frost & Sullivan