Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  International Business Machines Corp.    IBM

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

International Business Machines Corp. : Memorial Sloan-Kettering Cancer Center, IBM to Collaborate in Applying Watson Technology to Help Oncologists

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/22/2012 | 03:35pm CEST

New York City - 22 Mar 2012: Memorial Sloan-Kettering Cancer Center (MSKCC) and IBM (NYSE: IBM) have agreed to collaborate on the development of a powerful tool built upon IBM Watson in order to provide medical professionals with improved access to current and comprehensive cancer data and practices. The resulting decision support tool will help doctors everywhere create individualized cancer diagnostic and treatment recommendations for their patients based on current evidence.

The initiative will combine the computational power of IBM Watson and its natural language processing ability with MSKCC's clinical knowledge, existing molecular and genomic data and vast repository of cancer case histories, in order to create an outcome and evidence-based decision support system. The goal is to give oncologists located anywhere the ability to obtain detailed diagnostic and treatment options based on updated research that will help them decide how best to care for an individual patient.

The IBM Watson system gained fame by beating human contestants on the television quiz show Jeopardy! It can interpret queries in natural language and uses statistical analysis, advanced analytics and a powerful array of processors to search millions of pages in seconds and deliver evidence-based statistically-ranked responses.

MSKCC's world-renowned oncologists will assist in developing IBM Watson to use a patient's medical information and synthesize a vast array of continuously updated and vetted treatment guidelines, published research and insights gleaned from the deep experience of MSKCC clinicians to provide an individualized recommendation to physicians. The tool will also provide users with a detailed record of the data and evidence used to reach the recommendations.

The need for such an advanced technology arises from the steadily increasing complexity of oncology treatment. Cancers are the second most common cause of death in the U.S., second only to heart disease, and the American Cancer Society projects that 1.6 million new cancer cases will be diagnosed in the U.S. this year* with outcomes varying widely across the country. Cancer is not one disease but some hundreds of sub-types, each with a different genetic fingerprint. Significant discoveries in molecular biology and genetics in the past two decades have delivered new insights into cancer biology and strategies for targeting specific molecular alterations in tumors, but these advances have also ratcheted up the complexity of diagnosing and treating each case. Oncologists and physicians who do not specialize in specific sub-types of cancer face a significant challenge in keeping up with the magnitude of rapidly changing information.

 "The combination of transformational technologies found in Watson with our cancer analytics and decision-making process has the potential to revolutionize the accessibility of information for the treatment of cancer in communities across the country and around the world," said MSKCC President and CEO Craig B. Thompson. "Consistent with our mission, the vision is to help better identify and personalize cancer therapies for each individual patient, no matter where that patient may be receiving care. We also expect tremendous new research opportunities to emerge from this collaboration."

"Memorial Sloan-Kettering's evidence-based clinical approach, scientific acumen, and vast database make it the ideal partner in this ambitious project," said Dr. Martin Kohn, chief medical scientist, IBM. "Cancer care is profoundly complex with continuous clinical and scientific advancements to consider. This field of clinical information, given its importance on both a human and economic level, is exactly the type of grand challenge IBM Watson can help address."

"This comprehensive, evidence-based approach will profoundly enhance cancer care by accelerating the dissemination of practice-changing research at an unprecedented pace," said Dr. Mark G. Kris, Chief, Thoracic Oncology Service at MSKCC and one of the clinicians leading the development effort. He noted that 85 percent of patients with cancer are not treated at specialized medical centers and it can take years for the latest developments in oncology to reach all practice settings.

Development work is already underway for the first applications, which include lung, breast and prostate cancers. The objective is to begin piloting the solutions to a select group of oncologists in late 2012, with wider distribution planned for late 2013. This collaboration complements an earlier announcement by IBM and WellPoint that the parties will focus on putting Watson to work on oncology solutions. 

About Memorial Sloan-Kettering Cancer Center

Memorial Sloan-Kettering Cancer Center is the world's oldest and largest private institution devoted to prevention, patient care, research, and education in cancer. Our scientists and clinicians generate innovative approaches to better understand, diagnose, and treat cancer. Memorial Sloan-Kettering specialists are leaders in biomedical research and in translating the latest research to advance the standard of cancer care worldwide. For more information, go to www.mskcc.org

*American Cancer Society, Cancer Facts and Figures 2012. http://www.cancer.org/acs/groups/content/@epidemiologysurveilance/documents/document/acspc-031941.

distributed by

This press release was issued by IBM - International Business Machines Corporation and was initially posted at http://www-03.ibm.com/press/us/en/pressrelease/37235.wss . It was distributed, unedited and unaltered, by noodls on 2012-03-22 15:27:46 PM. The issuer is solely responsible for the accuracy of the information contained therein.

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on INTERNATIONAL BUSINESS MAC
03/27 INTERNATIONAL BUSINESS MACHINES : Smart Dubai launches its Development Roadmap f..
03/27 INTERNATIONAL BUSINESS MACHINES : Smart Dubai holds workshop to raise awareness ..
03/27 INTERNATIONAL BUSINESS MACHINES : Dubai launches Cognitive City strategy
03/27 Chinas Lenovo Losing Bet on Mobile Phone Diversification
03/25 INTERNATIONAL BUSINESS MACHINES : IBM announces price-competitive cold storage s..
03/25 INTERNATIONAL BUSINESS MACHINES : IBM launches cloud-based blockchain service fo..
03/25 INTERNATIONAL BUSINESS MACHINES : IBM Just Launched Blockchain Beyond Currency
03/25 INTERNATIONAL BUSINESS MACHINES : IBM, Dublin City University partner for IoT re..
03/25 INTERNATIONAL BUSINESS MACHINES : IBM assures Ghana of commitment to cloud, digi..
03/25 INTERNATIONAL BUSINESS MACHINES : RiskSpan Launches Data and Analytics API on IB..
More news
Sector news : Technology Consulting & Outsourcing Services
03/21 Google and sister company to offer cyber security to election groups
03/15 Washington Post software deal a double win for Bezos
03/07DJINTERNATIONAL BUSINESS MACHINES : IBM, Salesforce Agree to Partner on Artificial..
03/06DJINTERNATIONAL BUSINESS MACHINES : IBM, Salesforce Agree to Partner on Artificial..
03/01DJSALESFORCE COM : Outlook Rises -- WSJ
More sector news : Technology Consulting & Outsourcing Services
News from SeekingAlpha
03/26 PRO PORTFOLIO PROOF II : David Katz 'Safer' Value Portfolio Picks
03/26 IBM : Only Adaptation Can Change The Game
03/24 CASH FLOW VS. EARNINGS VALUATION : A Line Up Of Tech Companies
03/24 FACEBOOK : A 21st, Not A 20th Century Investment
03/24 A Look Back At Warren Buffett's 5-Year IBM Prediction
Advertisement
Financials ($)
Sales 2017 78 718 M
EBIT 2017 15 295 M
Net income 2017 11 396 M
Debt 2017 33 872 M
Yield 2017 3,23%
P/E ratio 2017 14,22
P/E ratio 2018 13,51
EV / Sales 2017 2,51x
EV / Sales 2018 2,52x
Capitalization 163 959 M
More Financials
Chart INTERNATIONAL BUSINESS MAC
Duration : Period :
International Business Mac Technical Analysis Chart | IBM | US4592001014 | 4-Traders
Full-screen chart
Technical analysis trends INTERNATIONAL BUS...
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 24
Average target price 171 $
Spread / Average Target -1,8%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Virginia M. Rometty Chairman, President & Chief Executive Officer
James J. Kavanaugh Senior Vice President-Transformation & Operations
Martin J. Schroeter Chief Financial Officer & Senior Vice President
Martin Jetter SVP-Global Technology Services
Sidney Taurel Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
INTERNATIONAL BUSINESS..4.72%163 959
VERISK ANALYTICS, INC.-1.80%13 259
SAMSUNG SDS CO LTD--.--%9 360
OTSUKA CORPORATION6.97%5 075
DHC SOFTWARE CO., LTD--.--%4 919
CONDUENT INC0.00%3 219
More Results