“In the second quarter of 2024, the company continued work on previous projects and actively searched for new customers. Preparatory work for new tenders and contracts was underway, the effect of which should be visible in the subsequent quarters of 2024” – we read at the beginning of the commentary of the Management Board of Polaris IT Group SA for the second quarter.

In March 2024, Polaris IT Group SA signed an exclusive representation agreement with one of the largest Chinese producers of military accessories (e.g. military clothing, defense equipment, special tactical equipment, etc. – www.anlong.cn) for the entire EU.  As highlighted in the previous quarterly report, due to current geopolitical events, the volume of government spending on weapons and security solutions is increasing significantly throughout Europe, which is why Polaris IT Group SA hopes that an exclusive agreement concluded in 2024, and other contracts being prepared will also provide the company with a favorable position in tenders in various countries.

In the first half of 2024, the Polaris IT Group Capital Group achieved consolidated net sales revenues of PLN 12,654,076.11, consolidated net profit of PLN 63,152.14 and consolidated operating result of PLN 538,983.37.

About Polaris IT Group SA:

Polaris IT Group SA operates as an IT service provider and consulting company in the field of information technology.

In July 2020, the Polaris IT Group Capital Group was established when Polaris IT Group SA acquired 100% of shares in the share capital of IAI (Industrial Artificial Intelligence Kft.), which holds 100% of shares in another Hungarian entity ISRV Zrt. At present, IAI does not conduct activities generating sales revenue, while ISRV is the company conducting operating activities on the largest scale within the Polaris IT Group Capital Group.

The core business lines of the Polaris IT Group Capital Group are artificial intelligence and the development of computer hardware and software.

Polaris IT Group SA is a company listed on the Warsaw NewConnect stock market, operated by the Warsaw Stock Exchange as part of the Alternative Trading System.

The post Polaris IT Group Capital Group records in Q2 nearly PLN 4.7 million in revenues and approx. PLN 32,000 net loss appeared first on Polaris website.

“In March 2024, the company signed an exclusive representation agreement with one of the largest Chinese producers of military accessories (e.g. military clothing, defense equipment, special tactical equipment, etc. – www.anlong.cn) for the entire EU. Due to current geopolitical events, the volume of government spending on weapons and security solutions is increasing significantly across Europe. Polaris IT Group hopes that in 2024 this exclusive agreement, as well as other contracts being prepared, will provide it with a favorable position in tenders in various countries” – the business activity of Polaris IT Group in the reporting period and the already visible business prospects were emphasized.

“In the first quarter, the issue of series R shares was registered. The company obtained PLN 4,125,00.00 from the issue of 2,750,000 shares. These funds were loaned to the subsidiary iSRV and were used to support research and development activities and preparatory work for new projects” – attention was also paid to the capital aspect related to the registration of series R shares and the allocation of the funds obtained for the development of activities within the Polaris IT Group Capital Group.

About Polaris IT Group SA:

Polaris IT Group SA operates as an IT service provider and consulting company in the field of information technology.

In July 2020, the Polaris IT Group Capital Group was established when Polaris IT Group SA acquired 100% of shares in the share capital of IAI (Industrial Artificial Intelligence Kft.), which holds 100% of shares in another Hungarian entity ISRV Zrt. At present, IAI does not conduct activities generating sales revenue, while ISRV is the company conducting operating activities on the largest scale within the Polaris IT Group Capital Group.

The core business lines of the Polaris IT Group Capital Group are artificial intelligence and the development of computer hardware and software.

Polaris IT Group SA is a company listed on the Warsaw NewConnect stock market, operated by the Warsaw Stock Exchange as part of the Alternative Trading System.

The post Polaris IT Group Capital Group in Q1 2024 reports PLN 8 million in revenues and over PLN 100,000 in net profit appeared first on Polaris website.

As highlighted in the initial part of the earnings commentary, it was a difficult time for the global economy and much more difficult for the Hungarian economy, but despite significant declines in IT spending and new IT projects, ISRV Zrt – an operationally key company in the Polaris IT Group Capital Group – ended 2023 with slightly higher revenues than the year before.

“Last year, the company continued to work in parallel on several business areas, seeking to focus on the development of software, hardware and AI-based solutions. In addition, the company successfully sold implementations and licenses based on previous work and purchases, one of which was the acquisition of a license in the security segment by the company in 2022, which generated revenues of almost two-thirds of the acquisition value in 2023” – the activities of Polaris IT Group SA in the previous year were presented.

“In 2023 Polaris IT Group SA continued its previously started research and development activities on industrial 3D printing, which will be completed in late 2024 or early 2025. It also raised new capital in the amount of over PLN 4 million through the issue of new series R shares. The company used this capital to support research and development activities at ISRV Zrt. and preparatory work for new projects. In the area of healthcare, the company has successfully executed an agreement related to the management of hospital patients” – attention was also drawn to other areas of the operating activity of the IT company from the NewConnect market in the reporting period.

“Already after the end of the financial year, in March 2024, the company signed an exclusive representation agreement with one of the largest Chinese manufacturers of military accessories (e.g. military clothing, defense equipment, special tactical equipment, etc. – www.anlong.cn) for the whole of the EU. Due to current geopolitical developments, the volume of government spending on weapons and security solutions is increasing significantly across Europe. Polaris IT Group SA hopes that in 2024 this exclusive agreement, as well as other agreements being prepared, will ensure its advantageous position in tenders in various countries” – the current economic activity of Polaris IT Group SA and its significant business prospects were also emphasized.

About Polaris IT Group SA:

Polaris IT Group SA operates as an IT service provider and consulting company in the field of information technology.

In July 2020, the Polaris IT Group Capital Group was established when Polaris IT Group SA acquired 100% of shares in the share capital of IAI (Industrial Artificial Intelligence Kft.), which holds 100% of shares in another Hungarian entity ISRV Zrt. At present, IAI does not conduct activities generating sales revenue, while ISRV is the company conducting operating activities on the largest scale within the Polaris IT Group Capital Group.

The core business lines of the Polaris IT Group Capital Group are artificial intelligence and the development of computer hardware and software.

Polaris IT Group SA is a company listed on the Warsaw NewConnect stock market operated by the Warsaw Stock Exchange as part of the Alternative Trading System.

The post Polaris IT Group Capital Group in 2023 reports over PLN 35.5 million in revenue and PLN 1 million in net profit appeared first on Polaris website.

 “In 2023, the economic situation in Hungary is extremely difficult, which affects our company’s operations both directly and indirectly. Our subsidiary iSRV has two important consortium agreements (with T-Systems and 4iG) for which we have high hopes, but we see that these projects can only be implemented if Hungary and the EU reach an agreement and Hungary receives funds on which these projects are based” – the current economic conditions and their actual impact on the business prospects of the Polaris IT Group SA Group were presented.

“As we emphasized in our annual report for 2022 and after the second quarter of 2023, we are constantly looking for areas that offer the possibility of profitable operation of the company even in the current situation” – we read further.

“We are working on software development and preparation of services and the results of this work will be used in the energy sector in connection with an innovative energy storage solution. We have high hopes for entering the energy sector with solutions for individual consumers and industry. This area is even more attractive because the EU is expected to release funds for both Hungary and Poland, which could bring a significant increase in investments in the energy sector” – emphasized one of the key business activities of the Polaris IT Group SA Group in the third quarter of this year.

“We are preparing activities related to the development and operation of a logistics system based on artificial intelligence for the transport of industrial raw materials by rail” – attention was also paid to another area of ​​operational activity in the reporting period.

“Polaris IT Group SA recently decided to raise capital, under which 2,750,000 shares will be issued in a private issue at a price of PLN 1.50 per share to one investor. The funds obtained from this issue will be largely allocated to development works conducted by iSRV Zrt. As at the date of preparation of the report, the company has already received the full payment for the shares and will soon publish a report on the offer and register the shares in court” – once again, the issue of the recently obtained significant financing for the Polaris IT Group SA Group was mentioned.

About Polaris IT Group SA:

Polaris IT Group SA operates as an IT service provider and consulting company in the field of information technology.

In July 2020, the Polaris IT Group SA Capital Group was established when Polaris IT Group SA acquired 100% of shares in the share capital of IAI (Industrial Artificial Intelligence Kft.), which holds 100% of shares in another Hungarian entity ISRV Zrt. At present, IAI does not conduct activities generating sales revenue, while ISRV is the company conducting operating activities on the largest scale within the Polaris IT Group SA Capital Group.

The core business lines of the Polaris IT Group SA Capital Group are artificial intelligence and the development of computer hardware and software.

Polaris IT Group SA is a company listed on the Warsaw NewConnect stock market operated by the Warsaw Stock Exchange as part of the Alternative Trading System.

The post Polaris IT Group SA Capital Group makes PLN 9.4 million in revenues and PLN 635,000 in net profit in Q3 2023 appeared first on Polaris website.

„In 2023, the economic situation in Hungary is extremely difficult, which affects the activities of our company both directly and indirectly. Our subsidiary iSRV has two significant consortium agreements (with T-Systems and 4iG) for which we have high hopes, however we see that these projects can only be realized if Hungary and the EU come to an agreement and Hungary has at its disposal the resources on which these projects are based” – the current economic conditions and their actual impact on the business prospects of the Polaris IT Group SA Capital Group were presented.

„As we emphasized in our annual report for 2022 and after the first quarter of 2023, we are constantly looking for areas that offer the possibility of profitable operation of the company even in the current situation” – we read on.

„We are working on software development and preparation of services, and the results of this work will be used in the energy sector, in connection with a special industrial energy storage solution” – highlighted one of the key business activities of the Polaris IT Group SA in the second quarter of this year.

„We are preparing activities related to the development and operation of a logistics system based on artificial intelligence for the transport of industrial raw materials by rail” – attention was also paid to another area of operational activity.

„In recent weeks, we have established a Hungarian company called QuantaNex Kft, 100% owned by Polaris IT Group SA. The company will be the sales partner of the innovative VR solution in Central Europe. Currently, the project is in the contract negotiation phase. Thanks to this solution, we can meet the needs of B2C, B2B and B2G customers in the field of entertainment, education and presentation” – informed for the first time about the construction of completely new competences of the Polaris IT Group SA Capital Group in the field of innovative VR solutions.

„Polaris IT Group SA has recently decided to raise capital, under which 2,750,000 shares will be issued in a private placement at PLN 1.50 per share for one investor. The funds obtained from this issue will be largely allocated to development works carried out by iSRV Zrt” – once again, the issue of the recently obtained significant financing for the Polaris IT Group SA Group was mentioned.

About Polaris IT Group SA:

Polaris IT Group SA operates as an IT service provider and consulting company in the field of information technology.

In July 2020, the Polaris IT Group SA Capital Group was established when Polaris IT Group SA acquired 100% of shares in the share capital of IAI (Industrial Artificial Intelligence Kft.), which holds 100% of shares in another Hungarian entity ISRV Zrt. At present, IAI does not conduct activities generating sales revenue, while ISRV is the company conducting operating activities on the largest scale within the Polaris IT Group SA Capital Group.

The main business lines of the Polaris IT Group SA Capital Group are artificial intelligence and the development of computer hardware and software.

Polaris IT Group SA is a company listed on the Warsaw NewConnect stock market operated by the Warsaw Stock Exchange as part of the Alternative Trading System.

The post Polaris IT Group SA Capital Group makes over PLN 7.3 million in revenues and PLN 575,000 in net profit in Q2 2023 appeared first on Polaris website.

As mentioned in the current report, the Management Board of Polaris IT Group SA, in accordance with the Articles of Association, is authorized to conduct such an issue within the authorized capital, and then introduce the shares to trading.

„The Management Board of Polaris IT Group SA plans that the subscription will be closed by the end of August 2023. The company received an advance payment towards the capital increase in the amount of HUF 80 million (approx. PLN 950 thousand). The funds from the issue of new shares will be allocated to the working capital of the iSRV Zrt. subsidiary, within the Polaris IT Group SA Capital Group” – the current stage and further actions in the field of the issue of shares addressed to the new investor were underlined.

About Polaris IT Group SA:

Polaris IT Group SA operates as an IT service provider and consulting company in the field of information technology.

In July 2020 the Polaris IT Group SA Capital Group was established when Polaris IT Group SA acquired 100% of shares in the share capital of IAI (Industrial Artificial Intelligence Kft.), which holds 100% of shares in another Hungarian entity ISRV Zrt. At present, IAI does not conduct activities generating sales revenue, while ISRV is the company conducting operating activities on the largest scale within the Polaris IT Group SA Capital Group.

The main business lines of the Polaris IT Group SA Capital Group are artificial intelligence and the development of computer hardware and software.

Polaris IT Group SA is a company listed on the Warsaw NewConnect stock market operated by the Warsaw Stock Exchange as part of the Alternative Trading System.

The post Polaris IT Group finds an investor and plans to raise capital appeared first on Polaris website.

„In the first quarter of 2023, iSRV Zrt. [Hungarian subsidiary, included in the structures of the Polaris IT Group SA Capital Group] achieved a pre-tax profit of HUF 174 million and revenues of HUF 823 million. Of these revenues, HUF 265 million came from license trading, but a significant amount also came from the sale of the EDL system (online education system) and the solution built on it, which accounted for another HUF 173 million in revenues. In addition, the company recorded HUF 195 million from individual implementations and sales of FPGA licenses and HUF 37 million from system operation. In addition, the sale of the Enclosed Server license developed by iSRV generated revenues of HUF 125 million” – the business activity in the first quarter of this year of the key operating company for Polaris IT Group SA Capital Group was underlined.

„The company has performed a cost effectiveness review, therefore we expect savings in operating costs from the second quarter. In the field of research and development, the company focused mainly on bug fixes, other than that, no new development expenses were incurred” – we read on.

„In 2023, the economic situation in Hungary remains extremely difficult, which affects the company both directly and indirectly. iSRV has two existing consortium contracts with a total framework of HUF 450 billion (with T-Systems and 4iG companies), for which we have high hopes. However, we already see clearly that they can only start when Hungary and the EU reach an agreement and Hungary receives the funds on which these projects are based” – current market conditions were presented.

„As we emphasized in the annual report for 2022, we are constantly looking for areas that give the company a chance for profitable operation even in the current situation. In the near future, we will focus on three such areas: software development in the energy sector, provision of telemedicine services based on the collection of telemetric data and AI in the healthcare sector as well as the sale of related devices and the implementation of optimization algorithms and AI-based solutions in the logistics sector, aimed at shortening and optimizing the time of transporting industrial products by rail. We are actively preparing projects in all three areas, and we are convinced that they will soon bring further successes for iSRV Zrt and thus also for Polaris IT Group SA Capital Group” – the current operational goals and business perspectives of the Polaris IT Group SA Capital Group were summarized.

About Polaris IT Group SA:

Polaris IT Group SA operates as an IT service provider and consulting company in the field of information technology.

In July 2020 the Polaris IT Group SA Capital Group was established when Polaris IT Group SA acquired 100% of shares in the share capital of IAI (Industrial Artificial Intelligence Kft.), which holds 100% of shares in another Hungarian entity ISRV Zrt. At present, IAI does not conduct activities generating sales revenue, while ISRV is the company conducting operating activities on the largest scale within the Polaris IT Group SA Capital Group.

The main business lines of the Polaris IT Group SA Capital Group are artificial intelligence and the development of computer hardware and software.

Polaris IT Group SA is a company listed on the Warsaw NewConnect stock market operated by the Warsaw Stock Exchange as part of the Alternative Trading System.

The post Polaris IT Group SA Capital Group makes over PLN 10 million in revenues and PLN 1.8 million in net profit in Q1 2023 appeared first on Polaris website.

Polaris IT Group SA is a representative of the IT sector and a public company listed on the NewConnect alternative market (ticker: PIT), run by the Warsaw Stock Exchange.

The company is an IT service provider and consulting company in the field of information technology. It offers individually designed and innovative solutions in the field of security technology, artificial intelligence, biometric identification and image recognition and analysis, streaming and online education, as well as healthcare.

In July 2020, the Polaris IT Group SA Capital Group was established when Polaris IT Group SA acquired 100% of shares in the share capital of IAI (Industrial Artificial Intelligence Kft.), which holds 100% of shares in another Hungarian entity ISRV Zrt. At present, IAI does not conduct activities generating any sales revenue, while ISRV is the company conducting operating activities on the largest scale within the Polaris IT Group SA Capital Group.

The main business lines of the Polaris IT Group SA Capital Group are artificial intelligence and the development of computer hardware and software.

The majority shareholder of Polaris IT Group SA is the British company Bit Pyrite Ltd, controlled by the President of the Management Board, Gábor Kósa, with its registered office in London, holding a majority stake of 66.24% of shares, while currently 33, 76% of the company’s shares remains  as a free float.

IT services and technology market

It should be mentioned that the Polaris IT Group SA Capital Group has many years of business contacts in China and East Asia, where it purchases personalized notebooks, tablets, servers and sensor devices – most often directly from manufacturers. At the same time, the premium partner status of Asian entities also allows to provide own customers with personalized and individually configured IT devices, equipped with pre-installed software and priority manufacturer support.

The above-mentioned purchasing opportunities and trade relations, together with own development possibilities, should lead in the future to bigger potential of the Polaris IT Group SA Capital Group to generate revenues, thus meeting the visible expectations and market demand in ​​IT services and technologies.

Financial results and valuation ratios

The Polaris IT Group SA Capital Group ended 2022 with revenues of nearly PLN 45 million and a net profit of approximately PLN 3 million. Only at the unit level Polaris IT Group SA generated sales revenues of approximately PLN 7 million at the end of last year, compared to previous almost PLN 4 million, which means an increase of about 75% year on year.

As the Management Board of Polaris IT Group SA emphasizes in the last periodic report Polaris IT Group SA is constantly working on preparing large projects that started after 2022 and which, as the company hopes, will generate a significant increase in consolidated financial results already this year and such a situation will be affected by, for example, contracts with the public sector, which the hungarian subsidiary iSRV Zrt. is applying for as part of its participation in consortia of companies.

The current stock market capitalization of Polaris IT Group SA is slightly over PLN 47.5 million with relatively low and attractive, in relation to other entities from the IT industry, valuation ratios P/BV (0.80) and P/E (16.00).

Operational and strategic goals

At the operational level the Polaris IT Group SA Capital Group is focused on continuing its current activities in the area of ​​software systems development, development of encryption solutions and hardware, development of research on artificial intelligence, trade in hardware and software, trade in hardware and software related to the healthcare market and the provision of services related to with this hardware and software, as well as developing own online learning solutions.

At the same time, the Polaris IT Group SA Capital Group is also actively looking towards new business areas, where it sees the opportunity to use its own skills in software development using technologies based on blockchain and AI solutions. One of them is logistics, where it intends to develop IT and logistics algorithms for freight transport. The second is the energy sector, where it plans to contribute to the implementation of effective control of high-performance energy storage devices – on industrial scale.

The strategic goal of Polaris IT Group SA remains to satisfy every unique need in the IT area using innovative solutions based on artificial intelligence and comprehensive development of hardware and software. To reach this goal the company is constantly expanding its activities with projects based on its own products and services, manufactured by the hungarian subsidiary company iSRV Zrt.

In the longer term one of the key strategic visions is the expansion of the Polaris IT Group SA Capital Group by further entities from the industry that will complement its business profile and strengthen its market position, especially based on specialist competences and knowledge or new business development opportunities.

The posted content is for informational and educational purposes only and is always an expression of the personal views of its author. They do not constitute, either in whole or in part, “recommendations” within the meaning of the polish Regulation of the Minister of Finance of October 19, 2005, on information constituting recommendations regarding financial instruments or their issuers (Journal of Laws of 2005 No. 206, item 1715). The author is not responsible for any investment decisions made based on the published content.

The post Polaris IT Group focuses on the development of hardware and software based on AI appeared first on Polaris website.

To start with, let us admit we are nerds: we all love stats (hope, you do, too!). And in health care, there are tons of stats! It is great, but statistics are useful only when the context is given. Context is defined in space and time, so we need measurements across regions that can periodically update our knowledge (models) of whatever we care for.  It was not so long ago that everyone was watching COVID-19 epidemics infographics and statistics that gave us minute information across the globe (like https://www.worldometers.info/coronavirus/  or https://ourworldindata.org/coronavirus or https://coronavirus.jhu.edu/map.html). It became obvious to everyone that proper use of modern digital tools (hardware, communication, software) can be vital. In emergency situations, we throw in everything we have to get answers and make quick decisions. With dense observations and the right modeling it is possible to see who is at greater risk, where should medical aid be deployed first, how to reorganize logistics, etc. 

Thankfully, emergencies are not permanent. But we did learn a lot about efficient information gathering and modeling at a social scale! And this fresh knowledge is what is needed when we think about the support of large communities: be it kids in remote villages, elderly people living at home, or the general population in large areas without proper infrastructure. These scenarios are quite different, yet similar tools and services can support them.  In turn, what we learn in one field, may become handy in another one! 

Here is a very interesting report on how digital health tools could empower the existing health systems in different regions of Africa [1]. While regions vary regarding infrastructure, level of financial support, or the extension of the health care systems, they all have to face some common challenges like vast areas without safe transportation options and cultural and language differences.  According to the McKinsey report “digital health tools are technology-enabled products and services for patients, healthcare workers, communities, pharma, and biotech companies, public-health leaders, regulators, and payers.” They divided the various data-driven and AI solutions into 6 categories:

• virtual interactions: remote consultations, emergency handling, mental support
• paperless data: health information exchange, cloud-based prescribing
• patient self-care: services that require the active participation of the clients
• patient self-service; appointments, etc
• decision intelligence systems: statistical modeling, decision support, etc
• workflow automation: logistics and resource optimization, device management 

According to McKinsey’s estimates, efficiency gain or savings by introducing various digital health tools could be somewhere between 2 billion and 11 billion dollars in South Africa only by 2030  (6 to 15 percent of total projected healthcare spending)! The individual contribution of the most relevant tools and services are shown in the next table: 

Digital health tools	Conservative scenario	Optimistic scenario
Share of total savings from digital adoption in South Africa, 2030, % [1]

Clearly, quite a few tools and services are a crucial part of the healthcare system or related to activities in medical centers (like genetic testing, performance dashboards or hospital logistics). But many are (could be) relevant to the elderly care, too! While the infrastructure (public transportation, road systems, communication networks, etc) is significantly better in Poland or Hungary, in reality,  access to these infrastructures is quite limited to the elderly. So there is a very strong similarity between the two scenarios. Perhaps it seems like a big leap in logic, but we can assume the relative contribution of the listed services and tools would be roughly similar when properly used in elderly care. Now let us dig a bit deeper and pick the ones with the largest potential.  

Virtual interactions

Well, it is no surprise that virtual interactions between patients and caregivers can significantly increase efficiency, especially when resources are scarce or when mobility is limited. That is why we have a deep interest in large-scale monitoring and virtual assisting solutions (see our previous posts!). Even under the more conservative scenario, these services would give about 39% of the overall efficiency gain. 

Information exchange (“Paperless data”)

What is surprising, though, is that the least complicated of all the listed tools may have the largest impact! Basically, it is about having fully digitized electronic health (or status) records that can be searched, compared against, or integrated with other information sources. Again, under the more conservative scenario, this group of services would yield almost 24% of the overall efficiency gain. 

Considering the fact that creating and maintaining large datasets are way cheaper than any of the other methods in the table, this contribution is huge!  It is actually so huge that everyone should start jumping now! Well, maybe not. While technically, integration of various data sources can be done, there are many obstacles that make this task a real challenge. 

Probably the single most important issue is of legal nature. Patient records, monitoring data or any other personal information collected fall under a “special category” as defined by the European Union’s General Data Protection Regulation (GDPR) or “sensitive data” as defined by the Chinese Personal Information Protection Law (PIPL). In the USA California’s Consumer Privacy Act (CCPA) has become the national standard. On the surface these laws are similar, but there are significant differences that make data-driven healthcare and elderly care complicated. Of the many differences let us just highlight two outstanding features. Compared to PIPL[3], GDPR gives a very detailed list of data types and use cases regarding “special category”, but its scope is narrower. Compared to CCPA [2], GDPR requires explicit consent, which can hinder the entire information-gathering process impossible in some cases. 

Clearly, some monitoring data cannot be anonymized as we need to know exactly what the patient is in need of and where she needs help. Differential privacy, however, makes it possible to separate general information that can be safely anonymized and is not considered sensitive [4] anymore. 

Beyond Paperless data

Of course, all these numbers in the quoted study are just rough estimates as there are so many unknowns. But they do indicate how important is to invest in the future and start the transformations. And clearly, once these tools are up and running their joint impact becomes ever larger. 

But why stop here? The listed services and tools are directly related to healthcare data or services. Once a secure link to the digital world is established, several new opportunities will arise by incorporating additional information sources. 

Here we list some ideas on how additional information sources could be used, but we believe that the possibilities are endless. 

• Dynamic comprehensive geriatric assessment (CGA)
• Weather forecast and pollen maps
• Digital elevation maps (DEM)
• Contact-distance maps

Dynamic comprehensive geriatric assessment (CGA)

According to [10] CGA “ is defined as a multidisciplinary diagnostic and treatment process that identifies medical, psychosocial, and functional limitations of a frail older person in order to develop a coordinated plan to maximize overall health with aging”.

To put it simply it is about understanding the individual’s needs and limitations and defining the best strategy for maintaining her well-being [5,6]. However, needs and limitations can change quickly due to the deterioration of the health status or some unexpected changes in the surrounding infrastructure. What if the nearest grocery has gone bankrupt? What if the next bus line is closed due to construction work? This kind of information is dynamic by nature and its use and integration with health status data are not straightforward. Yet it would make elderly care more proactive and efficient! 

Naturally, social care systems have resource limitations so they must consider the needs of all the persons who need support. Similar to primary health care accessibility analysis (like [8] ), geographical modeling of the accessibility of care centers or other services by the elderly community could also be extremely informative. Maps like the following could be dynamically created and updated for each type of service (health care, pharmacies, community centers, parks, etc):

Access by public transport vs walk time difference for two large cities in Finnland. Source [8]

By periodically updating these accessibility maps, we could spot regions that suddenly become less accessible indicating that proper measures must be taken. 

Weather forecast and pollen maps

In addition to changes in the infrastructure, natural changes, like weather can also cause severe problems for many. Extreme temperatures unfortunately become more frequent and there are several early warning systems in place. But abrupt changes like strong wind or rain fall are hard to prevent. Their impact, however, depend on the density of older persons in a given region and so proper responses can be modeled and defined in advance. 

Talking about wind. Air pollution (smog and pollens) hit elderly people with deteriorated health condition stronger. Services like https://www.breezometer.com/air-quality-map/ give detailed information about air quality for more than 60 countries. Many countries have public service showing the current situation, like the national pollen map in the US: https://www.pollen.com/map

Wind forecast and pollen maps combined could also be used to inform people about what to expect and how to minimize risk. What is needed here? Health information exchange system, monitoring data about current and expected location of the persons and dynamic weather maps. 

Digital elevation maps (DEM)

When monitoring at scale, we can quickly collect statistics that give us an overall view on the current status of the community. However, geographic information can add a lot to our understanding. For example, by monitoring walking speed and time spent we may spot someone who moves significantly less than the average. But what if that person lives in a mountain village where moving requires more amount of energy? This information can be taken into account by using elevation maps. [11]

Contact-distance maps

We already talked about how elderly care will become our common responsibility. Families together with community resources can give the right support. Whenever it is possible, social workers collect information about primary contacts. Having family members around can make services much more efficient and provide better emotional support. But it is also important to know how far the primary contacts live. Contact-distance maps could be of help when deciding about asking for help vs providing social care support in case of an emergency or, for instance, a planned visit to the doctor. 

We believe that this list will grow in the future. What is needed is your imagination and our technical expertise to make all these possible.

References

[1] https://www.mckinsey.com/industries/healthcare/our-insights/how-digital-tools-could-boost-efficiency-in-african-health-systems?stcr=4B30665F36D948B8A3BDCB408E61012B&cid=other-eml-alt-mip-mck&hlkid=7215bd7fe4644bb992acfb6c78fee308&hctky=12152474&hdpid=aee9a458-cc27-4df7-8598-208978eee1cd#/ 

[2] https://www.cookieyes.com/blog/ccpa-vs-gdpr/ 

[3] https://www.china-briefing.com/news/pipl-vs-gdpr-key-differences-and-implications-for-compliance-in-china/ 

[4] https://www.gdprsummary.com/anonymization-and-gdpr/ 

[5] https://www.communityservices.act.gov.au/domestic-and-family-violence-support/what-is-act-government-doing/dfv-risk-assessment/key-components/risk-assessment 

[6] https://core.ac.uk/download/pdf/236433397.pdf

[7] https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6068710/ 

[8] https://www.sciencedirect.com/science/article/pii/S0143622821001995 

[9] https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6852049/ 

[10] https://www.uptodate.com/contents/comprehensive-geriatric-assessment 

[11] https://omdena.com/blog/topographical-maps-deep-learning/

The post Elderly care 2.0: empowering services by data science appeared first on Polaris website.

As announced by Polaris IT Group SA, an IT company listed on the NewConnect stock exchange, the consolidated sales revenues achieved by Polaris IT Group SA and its hungarian subsidiary company iSRV Zrt. amounted to PLN 44,768,488.54 at the end of last year, while the net profit of Polaris IT Group SA Capital Group amounted to PLN 2,974,554.48. In the corresponding period of the year before, consolidated sales revenues reached PLN 115,912,099.09 and consolidated net profit PLN 8,482,276.74.

At the same time, Polaris IT Group SA recorded at the end of 2022 unit sales revenues of PLN 6,976,050.00 compared to PLN 3,996,725.20 in the previous year, representing an increase of nearly 75% year on year and a net loss of PLN 59,540.02 compared to a similar loss of PLN 57,153.21 at the end of 2021.

As emphasized by the Management Board of Polaris IT Group SA at the beginning of the result report, net sales revenues in 2022, at the level of the Polaris IT Group SA Capital Group, were expected to be much lower compared to those achieved in the previous year, as the value of revenues in 2021 was significantly affected by revenues from transactions for ventilators and medical masks, generated during the peak of demand caused by the COVID-19.

“The economic environment in 2022 was not favorable. War in Ukraine, high, rising inflation, still unstable supplies after the COVID-19 pandemic. Despite these unfortunate circumstances, we obtained significant revenues from all areas of our business, without neglecting research and development expenses and incurring the costs of preparing for future tasks” – we read further.

“We emphasize that despite the tough economic conditions, our percentage profit to sales ratio has improved. We have been working all the time on the preparation of large projects that will start after 2022 and which, as we hope, will generate significant growth already in 2023, e.g. contracts acquired through participation in consortia” – Polaris IT Group SA indicates an improvement in the net profitability.

“Economic difficulties did not disappear with the new year, however, even with such a poor environment, we are optimistic about 2023. We continue the research and development work that we have begun, which – we hope – will result in the launch of innovative products and services that generate revenue and high margins” – the impact of the R&D area on business perspectives was brought closer.

“We will continue to work in those areas that contributed to last year’s results. These include: development of software systems, development of encryption solutions and hardware, development of research on artificial intelligence, trade in hardware and software, trade in hardware and software related to the healthcare market and provision of services related to this hardware and software, development of online educational solutions. We also intend to operate in new areas where we see the opportunity to use our skills in software development using blockchain-based technologies and AI solutions. One of them is logistics, where he intends to develop IT and logistics algorithms for freight transport. The second is the energy sector, where it intends to contribute to the implementation of effective control of high-performance energy storage devices (on a national and industrial scale)” – the IT company listed on NewConnect stock market clearly summarizes the operational goals.

About Polaris IT Group SA:

Polaris IT Group SA operates as an IT service provider and consulting company in the field of information technology.

In July 2020 the Polaris IT Group SA Capital Group was established when Polaris IT Group SA acquired 100% of shares in the share capital of IAI (Industrial Artificial Intelligence Kft.), which holds 100% of shares in another Hungarian entity ISRV Zrt. At present, IAI does not conduct activities generating sales revenue, while ISRV is the company conducting operating activities on the largest scale within the Polaris IT Group SA Capital Group.

The main business lines of the Polaris IT Group SA Capital Group are artificial intelligence and the development of computer hardware and software.

Polaris IT Group SA is a company listed on the Warsaw NewConnect stock market operated by the Warsaw Stock Exchange as part of the Alternative Trading System.

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