On World Mental Health Day, Meet the Companies Using AI to Further the Field

Mental health is a significant public health issue in the United States, affecting millions of people, and having a ripple effect on families, communities, and the healthcare system. Mental illness is challenging to address, as it often intersects with other societal issues, such as substance abuse and homelessness, leading to complex problems that require comprehensive solutions. Access to mental healthcare remains a concern, with disparities in availability and affordability. Despite the challenges, progress is being made towards better understanding and supporting individuals affected by mental illness.

AI is playing a significant role in the field of mental health by offering innovative solutions to support individuals’ emotional wellbeing. AI contributes through personalized mental health interventions, utilizing “personal sensing” technologies to monitor and analyze users’ emotional states and behaviors, providing insights for self-improvement and intervention when necessary.

AI-powered chatbots have also been used to offer immediate support and counseling to individuals experiencing anxiety or depression, making mental health resources more accessible and reducing the stigma associated with seeking help. Additionally, AI-driven algorithms can assist mental health professionals in diagnosing and predicting mental health conditions more accurately, aiding in early intervention and personalized treatment plans.

We took a look at some of the companies using AI to address mental wellness and mental illnesses today:

Certara.AI (CERT) is a secure, flexible platform for deploying life science specific GPTs across its clients’ organizational data. The company provides modeling and simulation platforms for drug development, which can be instrumental in creating new medications for mental health disorders like schizophrenia, bipolar disorder, and depression.

Talkspace (TALK) connects patients online to a dedicated, licensed provider for high-quality therapeutic services through private messaging sessions, real-time live sessions, or both, depending on a user’s plan. In Q2 2023,  Talkspace reported positive results, announcing that it expected revenue to be in the range of $137 million to $142 million for the fiscal year 2023, demonstrating further improvement in its revenue projections.

Earlier in 2023, Royalty Pharma (RPRX) acquired interest in Karuna Therapeutics’ schizophrenia treatment for up to $500M and prior to that, an interest in Merck’s (MRK) MK-8189, also for schizophrenia. The company uses Stream in AlphaSense to leverage AI search technology across a library of more than 25,000 transcripts of interviews with industry experts to identify relevant perspectives from multiple healthcare industry stakeholders.

Exscientia (EXAI) is developing oncology, immunology and other treatments. The company has a sophisticated AI-enabled drug discovery program that is expected to reduce the cost and timeframe of new drug development. Exscientia’s collaboration with Sumitomo Pharma has yielded six molecules with broad potential in psychiatric disease, including obsessive-compulsive disorder.

While AI in mental health offers numerous benefits, ethical considerations and privacy concerns remain important aspects to address. However, it’s clear that AI has the potential to enhance mental health care and support individuals in their mental well-being journey.