TYMLEZ and Nico.lab Awarded Government Grant to Develop Swarm-Learning

TYMLEZ
01/17/2020

TYMLEZ Group Limited (ASX:TYM) (“TYMLEZ” or the “Company”) is pleased to announce that it has been awarded a government grant from the province of North Holland to develop and drive a technology called “Swarm Learning” or “distributed Artificial Intelligence”.

The grant of $368,420 is awarded to partially fund the project that will be executed by TYMLEZ and Nico.lab. TYMLEZ will receive $177,379 out of this grant.

Nico.lab is a Dutch developer of StrokeVieverTM, an artificial intelligence engine and SAAS platform to analyse brain scans and advise on the treatment of strokes. The Nico.lab technology processes large imaging files (up to 7Gb) centrally in the cloud, which might lead to scalability problems and because data is kept outside the hospitals premise, extensive measures regarding privacy compliance must be taken.

Swarm learning is a technology where the artificial intelligence engine, no longer resides on a central location, but the algorithms are trained locally on premise on a dedicated server. The local learnings are shared through the blockchain network amongst participants, thus helping to overcome the burden to process sensitive data outside the organization’s premises. If successful, the AI might achieve a greater accuracy and could lead to a more versatile use of the algorithms.

Merel Boers, the CEO of Nico.lab: “Learning from patients while keeping their data safe on hospital premise is technically challenging. Swarm Learning might be the solution keep offering our best AI techniques to optimize patient care.”

Reinier van der Drift, CEO of TYMLEZ stated: “We’re very pleased and proud to work with Nico.lab that closely and are looking forward to the outcome of the project. Swarm Learning is a great technology and will prove to be a driver in the adoption of blockchain technology.”

TYMLEZ Group Limited
ACN 622 817 421
Address: Unit 1B, 205-207 Johnston St Fitzroy VIC 3065 Phone: 03 9191 0135

Approved by the Board of TYMLEZ Group Limited

For further information:

Mr Justyn Stedwell

Company Secretary (03) 9191 0135