AI/ML Innovations (CSE: AIML)(OTC: AIMLF) is a company committed to advancing Artificial Intelligence and Machine Learning technologies. Their main goal is to address urgent societal needs. Their current short-term focus is on acquiring emerging companies in the digital healthcare space. Currently, AI/ML's shares are traded on the Canadian Securities Exchange under the symbol $AIML (trades in the US as $AIML.CA). Where they secured a major win with their first acquisition of gaining 70% ownership of Health Gauge.
The Market
AI/ML Innovations is targeting the wearable tech market. This market is projected to grow from nearly $27 billion in 2019 to $64 billion by 2024. This growth is spurred by the popularity of the Internet of Things (IoT), connected devices. The wearable tech market is exploding, thanks to health monitoring by senior citizens, tracking by millennial fitness enthusiasts, and “biohackers:Upcoming Pipeline & Products
AI/ML Innovations' upcoming pipeline and products can be found below, which was taken from their investor's relation deck. The highlight is that their upcoming devices will have a whopping 15-day battery life, which compared to other trackers mostly last almost up to 10 days.
Their combination of innovative software and cloud analysis has the potential to set them apart, as they are just not another "step tracking" gadget. They tend to monitor behavior tagging, blood pressure, ECG, HR, and HRV and combing this data on the Cloud with Machine Learning. The innovation of processing the data on the cloud with state of art algorithms can lead to an endless amount of discoveries and health improvements.
The Competition
There are various competitors in the wearable gadget space. Well Health Technologies, CloudMD, Senseonics, and Vitalhub are just a few. With Market caps ranging from 1 billion to 73 million, all are projected to have hyper revenue growth. Based on these competitors AI/ML Innovations has plenty of space to grow in terms of stock price and market cap.
Ultimately the goal is to compete with the likes of Google's Fitbit, AppleWatch, Samsung fitness watches, and Garmin's line of sports watches and even more likely get bought out by a much larger company.
Technical Analysis
I have mapped a few technicals to the chart above. Although there is not much chart history as the chart is brand new, there is a few interesting tidbits. The first takeaway is during the initial launch of the stock it moved up to 350% in the first few days, since then it has slowly drifted.
As of this article, the short-term trend has changed bullish, as now price is above the Upper Bollinger Band and the 5 EMA above the 10 EMA, which can be interpreted as bullish at least for the short term.
I'd keep an eye on the 5 and 10 EMA, as well as focusing on whether price can continue to climb above the Upper Bollinger Band.
Conclusion
AI/ML Innovations is a relatively new company making a big splash, acquiring innovative healthcare space companies. With their main goal of focusing on stock growth, and caring about shareholders, this stock may be a huge winner in the future.
If they can pull off what they have promised to investors, it is possible to be bought out by bigger competition out there such as Apple ($AAPL), Hapbee Technologies ($HAPBF $HAP), and Garmin Ltd. ($GRMN). Google ($GOOG) ended up purchasing Fitbit ($FIT), one of the leaders in wearable health gadgets for billions of dollars. A buyout is plausible as the company fulfills its roadmap. Finally, a similar, more mature company in the digital health solution space: Livongo Health was acquired by Teladoc Health for approx. $18.5 billion!