Integumen PLC (LON:SKIN) aims to add new revenue-sharing deals after launching an open-source version of its artificial intelligence-driven data management platform for organisations in any industry.
Rinodrive, a cloud-based platform that has been in development since 2016 by Integumen subsidiary, Rinocloud, is a set of software tools that use AI for better data aggregation, refining and analysis.
WATCH: Integumen's Gerry Brandon discusses launch of Rinodrive AI platform
It is already being rolled out and tested by existing Integumen healthcare clients, a number of universities, government departments, in one UK bank and an international financial advisory firm.
Integumen says Rinodrive provides service-providing organisations with the ability to offer their clients “valuable insights that support clinical, operational and financial decisions”.
Chief executive Gerard Brandon said: “Following the transformational change with the Integumen business model achieved in just a few months by adding AI to Labskin, we are now delighted to be able to offer the same benefits across multiple industries.”
He said launching Rinodrive as an independent platform will allow him and his management colleagues to remain focused on the core Labskin AI business while adding a further revenue sharing source of income from clients across other industries.
He said Rinodrive has shown its qualities in working with genetic data for Labskin and other scientific data at research institutes such as the University College Cork, Cambridge University and the Centre for Advanced Photonics & Process Analysis at the Cork Institute of Technology.