AI Innovation Opens New Doors in Health Monitoring
Spacetalk Ltd (ASX:SPA) has taken a significant step in its transformation journey by securing an exclusive, worldwide licence for Watch Walk AI, an AI-powered gait biomarker algorithm. Developed by a team of researchers from Neuroscience Research Australia (NeuRA) and the University of New South Wales (UNSW), this technology could redefine health monitoring by predicting serious medical conditions using data from wearable devices.
A Strategic Leap for Spacetalk
“The way people walk and move is a predictor of their health,” said Spacetalk CEO and Managing Director Simon Crowther. “The Watch Walk AI algorithm will make it possible to analyse gait and other data from Spacetalk wearable devices to predict health risks, enable timely care, and assist our customers in preserving and improving their health.”
Spacetalk plans to integrate this AI into new Software-as-a-Service (SaaS) and Subscription App products, aiming to offer predictive health insights for care providers, insurers, and consumers. The AI will assess risks related to dementia, depression, stroke, heart attack, and injurious falls, with potential future applications for broader demographics, including younger users and families.
Tapping into a High-Growth Market
By incorporating Watch Walk AI, Spacetalk is positioning itself within rapidly expanding markets. The global seniors care AI market is projected to reach US$151 billion by 2030, growing at a 25.9 per cent compound annual growth rate (CAGR). Additionally, the wearable AI market is expected to hit US$260 billion by 2032, with a CAGR of 27 per cent.
“We expect our new software to be able to analyse data from Spacetalk wearable devices to help care providers take better care of participants and residents, insurers to offer options to reduce risk, and individuals and families to be aware of their health risks,” Crowther added.
The Economic and Health Benefits of Early Detection
Spacetalk’s adoption of Watch Walk AI aligns with broader healthcare cost-saving initiatives. Research by the Alzheimer’s Association in the U.S. indicates that early detection of Alzheimer’s could save US$7.9 trillion in healthcare costs over the lifetime of the current US population. In the UK, dementia care is expected to reach £90 billion annually by 2024, with early diagnosis potentially saving up to £44,900 per person each year.
Falls also present a major economic and healthcare burden, particularly for older adults. Studies show that 30 per cent of adults over 65 experience at least one fall annually, with injurious falls costing AU$2,494 per instance. In Australia’s aged care system alone, fall-related injuries amount to an estimated AU$325 million per year.
“Accurately predicting and identifying changes in fall risk can lead to timely interventions and significant cost savings,” Crowther emphasised.
Licence Agreement Terms and Development Milestones
The agreement between Spacetalk and NeuRA grants Spacetalk a worldwide exclusive licence with an initial three-year term and options for unlimited renewals. Key financial terms include a nominal upfront licence fee, and a sliding-scale royalty payment based on gross margin from sales of products utilising Watch Walk AI.
To ensure product development stays on track, Spacetalk must:
- Develop a product plan within 60 days of the licence commencement.
- Provide half-yearly reports aligned with the plan.
- Meet key milestones, with NeuRA holding the right to terminate after 18 months if progress is insufficient.
Pending development and regulatory approvals, Spacetalk aims to launch its AI-powered health software during the 2026 financial year.
World-Leading Neuroscience Research Supports Innovation
Watch Walk AI is the result of years of research by Dr. Lloyd Chan, Professor Stephen Lord, and Associate Professor Matthew Brodie, who specialise in gait analysis and fall prevention. Professor Lord, a leading expert in balance and mobility research, expressed enthusiasm about the partnership.
“I am delighted with this agreement as it will allow the translation of our research findings to the clinical care of people at risk of many health conditions,” Professor Lord said.
Dr. Chan highlighted the future potential: “We plan to extend the current research to broaden the application of this work, both to frail older people and the younger population.”
Spacetalk’s Vision for a Data-Led Future
The licensing of Watch Walk AI aligns with Spacetalk’s strategy to evolve from a loss-making kids’ wearables business to a high-growth, data-driven predictive analytics company. This shift follows initiatives outlined in its 1H25 Investor Update, including:
- Rebuilding product and data technology architecture (Spacetalk 2.0)
- Developing next-generation seniors’ and kids’ wearable devices
- Launching an AI-powered predictive analytics health and wellbeing product
- Creating an interactive AI product
Crowther sees this transformation as a pivotal moment for Spacetalk’s future. “Incorporating the Watch Walk AI algorithm into our next-generation software is another step forward in our global growth strategy and directly supports our product innovation initiatives.”
As Spacetalk advances toward commercialisation, investors and industry stakeholders will be watching closely to see how this AI-driven evolution unfolds.
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1 Comment
Shraddha13
Thank you for sharing! To explore further
Replyhttps://www.360iresearch.com/library/intelligence/wearable-ai