Industry members in the INOVAIT Network are developing AI technologies that are revolutionizing the diagnosis and treatment of disease and improving patient outcomes while building the Canadian healthcare economy. The health data these companies need to create their technologies most often reside with Canadian healthcare institutions that are reluctant to share data with commercial partners due to caution stemming from a lack of clarity in privacy legislation and historical practices focused primarily on minimizing privacy and security risks.

As with many transformative businesses, 16 Bit came to be because of, sure, the brilliance and vision of its founders, but also a great deal of serendipity. 16 Bit might not exist had Dr. Mark Cicero and Dr. Alexander Bilbily not both chosen to pursue medical school (with backgrounds in engineering and computer science, respectively), had they not both decided to specialize in radiology, and had they not ended up in the same residency training program at the University of Toronto.