Empower Clinics Inc (OTCMKTS:EPWCF) (CSE:EPW) told investors Tuesday that the artificial intelligence tools supplied by Canntop AI, a subsidiary of Datametrex AI Limited, was helping the medical cannabis company sift through mountains of data to create “actionable insights,” with the aim of improving patient care.
"Insights derived from artificial intelligence are beginning to demonstrate how patients in our key markets are talking about or describing their experience and ideas related to cannabis/CBD-based treatments, and even suggesting recommendations about alternative therapies and their effectiveness in treating a wide array of qualifying conditions," Empower CEO Steven McAuley said in a statement.
The Vancouver cannabis company said it provided crucial SEO terms and phrases which Canntop integrated into the artificial intelligence platform so Empower could get more insights about its two largest markets in Portland and Phoenix. The whole idea rests on gaining “actionable insights” on how consumer social data is generating interest in CBD-based products, alternative pain management, and the use of cannabis-based therapies, said the company.
"We believe the outcomes of our AI efforts, if successful, could position the company as an educational leader,” said McAuley. “We plan to collaborate with the industry with the ultimate goal of improving patient care."
Artificial intelligence eliminates tedious data-sorting chores, and with machines using algorithms, it give them superhuman learning powers. Ultimately, AI gives companies like Empower, the tools to make faster, more accurate decisions after acquiring information about patients.
Powerful AI tools change the equation
"Canntop's powerful AI tools are helping us analyze the substantial amounts of data in the Empower database and we expect will facilitate the integration of the additional data we expect to derive from the proposed acquisition of the Sun Valley Clinic group, that has a combined 165,000 patients," said McAuley.
Empower has struck a non-binding deal to acquire the business of the Sun Valley Holdings, which operates a network of medical cannabis and pain management practices, with clinics in Arizona and Las Vegas as well as a tele-medicine platform serving California.
Empower utilizes a patient electronic management system that is HIPAA compliant and provides deep insight to patient care. The company’s tele-medicine platform also supports remote patients who use its portal when they are unable to come to a location, but still benefit from a doctor consultation.
"We are thrilled that Empower chose Canntop AI to be their partner for their artificial Intelligence needs. This is a great validation for our business model,” said Michael Frank, Chief Strategy Officer at Datametrex. “We believe this alliance between Canntop and Empower will create a strong platform for data analysis in the cannabis sector especially in the US, providing insurers and health care providers an ideal solution for patient care."
Empower is a leading owner and operator of a network of physician-staffed clinics focused on helping patients improve their health through the use of medical cannabis.
Separately, Empower has also started selling its own line of CBD-based products called Sollievo via its network of company-owned clinics in the US. The offerings include CBD lotion, tinctures, spectrum oils, capsules, lozenges, patches, topical lotions, gel caps, e-drinks, hemp extract drops and pet elixir hemp extract drops.
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