AI/ML Innovations Inc. Reports Impairment of Tech2Heal Investment

AI/ML Innovations Inc. has announced an impairment loss of $1,510,668 related to its investment in Tech2Heal, its minority-owned subsidiary. This decision follows an assessment of Tech2Heal’s primary asset, Alakin, which is performing modestly in terms of sales but requires immediate and significant capital to remain competitive in the swiftly evolving AI landscape. The company stressed the need for substantial investment to incorporate artificial intelligence into the platform to maintain competitiveness and customer base.

Management committed to providing updates on future business development strategies. Despite challenges, AI/ML Innovations continues to pursue growth through strategic partnerships and investments in digital health, leveraging artificial intelligence and machine learning.