During the various lockdowns of 2020/21, many people made the decision to try out “at home” fitness programmes. Forbes reports that 72% of respondents found it simpler to exercise frequently even though they were unable to go to a gym.
So, what happened next?
As we returned, blinking into the sunlight, a lot of us regular athletes chose to continue working out using an app rather than returning to the gym. Even those who voluntarily returned to their preferred studios have continued to use fitness apps, preferring a combination of online and offline experiences over a single choice. As a result, even while bricks-and-mortar studios are once again back in business, there are still many people who have been exposed to and want to use fitness apps.
The fitness app market is rapidly expanding. Valued at $5.1 billion (USD) in 2021, it is estimated to reach $15.2 billion (USD) by 2028 and is expected to grow at a compound annual growth rate of 17.6% between 2022 and 2028.
For those entering the fitness app market now the question is, how do you keep your users motivated when surrounded by all the home comforts? How do you bring your users the “going to the gym” experience from the comfort of their own homes? Artificial intelligence (AI) can help. With the application of AI in fitness, a great degree of personalisation can be offered, you can even assign an actual AI personal trainer to the user.
That is what our SimDH alumnus, AIYantr, does with their vision-based AI exercise app.
Who are AIYantr?
AIYantr Limited offers an advancement in state-of-the art computer vision-based AI as their solution to exercise adherence. Tracking and personalised coaching can give everyone a personal trainer in their pocket.
Swasti Sharma, founder and creator of AIYantr, has a background in data science and computer science, with vast amounts of experience of AI in health and social care.
After seeing this motivation gap in the fitness app industry, she started to create a product with passion, knowledge and innovation that would solve her customers’ problem. That is how AIYantr was born!
Rising to the technical and business challenges inherent in such a venture, they are developing and advancing their product every day.
Working with Simulation for Digital Health (SimDH)
AIYantr joined our Simulation for Digital Health (SimDH) programme last year. Our team of experts started working with AIYantr to help them:
- Build a health economic model, keeping standards and regulations within NHS guidelines
- Gather insights into the NHS and understand its funding models
- Create value propositions and market access strategies
- Consult with specialists to streamline product development and define the steps needed to formulate their go-to market strategy
- Formulate and advance their investor pitching strategies
AIYantr also had the chance to attend our webinars on digital health technologies, where they could better understand the addressable market, sales models, extended producer responsibility coverage, and the opportunities in the technology enabled care service.
“Working with SimDH has given us a deeper knowledge and understanding of the NHS guidance on building a health economic model and keeping within the standards and regulations, thus protecting our innovation. All the webinars from SimDH have been very professional and helpful.” - Swasti Sharma
The Future for AIYantr
AIYantr has great ambitions for the future that will need time, investment, and resources to accomplish.
They are planning to:
- Collect machine learning training data to improve the accuracy of their product
- Convert their product for iOS device support by the end of Q3 2023
- Implement and test all the tools for their new physiotherapist web portal
- Make sure that web portal is accessible and conforms to Web Content Accessibility Guidelines
- Ensure that their product can create “stickiness” for adherence to exercise with support from behavioural change centres in the UK
- Engage with the NHS and prepare to integrate their product into a routine health offering with the relevant certifications
Want to Join Them?
If, like AIYantr, your digital health product, service or development needs a boost - whether it's collaboration, business support or equipment - start working with our SimDH team today. Applications close at the end of January 2023.