South Korean startup Looxid Labs Inc. announced that it would unveil its cognitive care solution dubbed “LUCY” for seniors at the coming Facebook Accelerator Seoul Demo Day on December 2, 2020.
Looxid developed LUCY as a powerful virtual reality (VR)-based “brain training” tool for the aging population aged 50 and older. Founded in biotechnology, LUCY improves cognitive function, focusing on attention, memory, and perception. The solution captures and interprets behavioral and neurophysiological responses during usage. The tool also provides a full health report for its users.
Powered by artificial intelligence (AI) and cloud-based technology, Looxid designed LUCY as portable and easy-to-use with the end-user in mind. The solution adapts and develops according to the individual users using a wireless VR headset and EGG sensors. It monitors brain activity and fully immerses the user in various virtual activities.
“Our passion and belief are that LUCY will better the lives of those in their senior years.”
– Brian Yongwook Chae, CEO of Looxid Labs
Brian cited Statista, saying that nearly a quarter of the U.S. population would comprise people aged 65 or older. He said that brain training and cognitive support could significantly enhance their lives. Using the latest AI technology, LUCY could analyze users’ response patterns to VR games and capture biometric data, driving cognitive assessment, and training tools for seniors.
Providing a Sense of Connection
LUCY would help users to improve overall cognitive health, making them feel connected and less isolated from the world. Brian said that the seniors could use the technology individually in their homes or as part of a broader community.
“We’re excited to unveil this next-level technology at Facebook Accelerator Seoul, prior to its anticipated launch in mid-2021.”
The AI-based LUCY’s self-assessment program helps to connect seniors through several forms such as games and learning-based tasks. The technology could also provide suggestions on how users could improve their cognitive skills.
Looxid expects the AI-based healthcare market to grow at 39.4 percent CAGR to over 11 trillion won ($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.
Key Features of LUCY
- Optimizes Biometric Data – The innovative VR-compatible brain sensor module integrates brainwaves and eye movement collected from a VR headset. It transmits the data to a cloud platform, providing valuable insight by sharing it with the end-user.
- Multi-modal Interaction – LUCY monitors user action in real-time using biometric data, allowing caregivers to access and manage users’ status and progress.
- Synchronized Cloud Analytics – Collected data automatically transfers to a cloud and shared across multiple platforms instantly, allowing real-time information analysis. Caregivers and users could access the data through a downloadable health report, providing rich insights.
About Looxid Labs Inc.
Established in 2015 by ‘techpreneur’ Brian Yongwook Chae, Looxid Labs is a tech startup based in 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 identify and train 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 several awards:
- “Best of Innovation Award” in the VR/AR category at CES 2018
- “Gold Winner” at the 2019 Golden Bridge Award for IT products
- Finalist at the 2020 SXSW Pitch
- Finalist for “Real-Time Live at Siggraph 2020.”
To learn more about Looxid Labs, please visit looxidlabs.com and @looxidlabs on Facebook and YouTube.
About Facebook Accelerator Seoul
Facebook Accelerator Seoul, one of Facebook’s global initiatives Facebook Accelerator, supports the innovation and growth of technology-based startups based in South Korea.
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.
