Ingradient Aims for Overseas Markets by Reducing MRI Analysis Time and Costs

'Ingradient' is a medical artificial intelligence (AI) specialized data labeling company. Until now, experts such as doctors performed analyses of magnetic resonance imaging (MRI) and computed tomography (CT), but these have been replaced by medical AI, which required considerable time and cost to process the vast amounts of data. Ingradient developed 'MediLabel,' a tool that processes medical data quickly and easily.

Through MediLabel, AI can more easily determine how far a patient's cerebral infarction has spread and the approximate size of tumors. MediLabel uses deep learning to accurately segment and label even complex and previously unseen lesions. It can also measure the volume of cancer cells, which can be utilized for treatment.

According to Junho Lee, CEO of Ingradient (pictured), this efficiency leads to faster treatment schedules and reduced medical costs, ultimately helping to protect patients' lives and welfare. MediLabel has been supplied to medical AI companies including Seoul National University Hospital, Samsung Medical Center, and Seoul St. Mary's Hospital. Although sales were only 250 million KRW last year, they have grown to 1 billion KRW in the first half of this year alone.

Implementation of Ingrediant's 'MediLabel' technology.

CEO Lee also plans to expand the business by applying data labeling technology beyond healthcare to manufacturing. In collaboration with Samsung Electro-Mechanics, they are developing software that identifies defective products in semiconductor processes based on images. Lee stated, "Finding cancer cells and finding defective semiconductors are not very different," and added, "We have set a long-term goal to expand applications to other fields starting with semiconductors."

Lee is also focusing on entering Southeast Asian markets such as Thailand and Indonesia. Next month, he will attend the Medical Image Computing and Computer Assisted Intervention (MICCAI) 2022 conference held in Singapore. MICCAI is globally recognized as an authoritative conference in the medical AI field. He said, "Southeast Asia has a welcoming atmosphere for foreign companies in the AI industry," and "Korean medical AI companies mainly achieve export performance in Southeast Asia." Ingradient is conducting research with the Electronics and Telecommunications Research Institute (ETRI) to develop international standards for performance evaluation methods of medical devices applying AI technology.

All 26 employees at Ingradient work remotely. One team leader has been working from Canada for two years, and another team leader is currently working in Spain for the second week using a workation approach. CEO Lee believes that employees should work in the best environment they desire without restrictions of time and space.