South Korean Start-Up Set Introduces Cognitive Software for Seniors
Korean start-up Looxid Labs Inc, will unveil ‘LUCY’ – a cognitive care solution founded in biotechnology, at the forthcoming Facebook Accelerator Seoul Demo Day on December 2, 2020.
Developed for an ageing population, LUCY is a powerful virtual-reality (VR) ‘brain training’ tool, for people aged 50 and older, specifically the 65+ market. Helping to improve cognitive function it focuses on; attention, memory, and perception, by capturing and interpreting behavioral and neurophysiological responses during use. It also provides a full health report for users.
Designed with the end-user in mind, the product is both portable and easy-to-use, fueled by powerful artificial intelligence (AI) and cloud-based technology. LUCY comes complete with a wireless VR headset to fully immerse the user in the experience, including EGG sensors to monitor brain activity. This allows the software to adapt and develop to each individual user.
Brian Yongwook Chae, CEO of Looxid Labs, said: “Our passion and belief is that LUCY will better the lives of those in their senior years. By 2050*, nearly a quarter of the US population will be made up of people aged 65 or older – and brain training and cognitive support can greatly enhance their lives. We use the very latest AI technology to drive
cognitive assessment and training tools for seniors, which can be utilized to analyze their response patterns to VR games as well as the captured biometric data. It can help users feel connected with the world around them and feel less isolated. It also helps to improve overall cognitive health too.”
“Crucially, the technology can be used by an individual in their home, or as part of a larger community – such as retirement and care homes. We’re excited to unveil this next-level technology at Facebook Accelerator Seoul, prior to its anticipated launch in mid-2021.”
Using Artificial Intelligence (AI), LUCY is helping to connect seniors, through a number of forms, including games and learning-based tasks. The self-assessment style programme even makes suggestions on how users can improve their core cognitive skills.
Using AI in the healthcare market is a growing trend, expected to grow at a 39.4 per cent CAGR to over $10 billion by 2024. Tapping into this, Looxid Labs uses VR content to track and improve users cognitive function, eye tracking to monitor saccadic movements and EEG to understand digital biomarkers such as Alpha-beta rhythms.
Some of the key features of LUCY, include:
Optimizes biometric data
The most VR-compatible brain sensor module enables the VR headset to be more than just a gaming device. The innovative software integrates brainwaves and eye movement collected from the VR headset and then transmits to a cloud platform, which can be shared with the end-user, providing valuable insight.
The software monitors user actions with the biometric data, interpreted in real-time. This allows caregivers to access and manage the status of the user and chart their progress.
Synchronized cloud analytics
Data is automatically transferred to a cloud and shared across all platforms instantaneously. This allows information to be analyzed in real-time, for rich insights. These can be accessed by caregivers and individuals, via a downloadable health report.
The Facebook Accelerator Seoul Demo Day takes place online this year. You can register for online live streaming at https://bit.ly/35ou2GP until December 2, 2020.
To learn more about Looxid Labs, please visit: looxidlabs.com and @looxidlabs on Facebook and YouTube.
For further information, or press enquiries, please contact:
Anna Jo, Marketing & Communications Team Leader
About Looxid Labs Inc.
Established in 2015 by ‘techpreneur’ Brian Yongwook Chae, Looxid Labs, is a tech start-up from Seoul, Korea. Looxid develops analytics on a cloud platform using virtual reality (VR) to assess cognitive ability, by collecting and analyzing users’ bio-signals such as eye and EEG data to help in identifying and training cognitive function. Looxid Labs has attracted a lot of attention and garnered significant success since its debut as a battlefield participant at TechCrunch Disrupt SF 2017. The company has demonstrated excellent technical skills and won a number of awards: “Best of Innovation Award” in the VR/AR category at CES 2018, and was “Gold Winner” at the 2019 Golden Bridge Award for IT products. Looxid was also a finalist at the 2020 SXSW Pitch, and finalist for “Real-Time Live at Siggraph 2020.”
About Facebook Accelerator Seoul
Facebook Accelerator Seoul, which is one of Facebook’s global initiative of Facebook Accelerator, supports innovation and growth of technology-based (AI, ARㆍVR, etc.) startups based in Korea.
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