DAILY UPDATE: Nvidia, and Pharmacy Cyber Security Attack as Stock Markets Roar Back!

Posted on February 23, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Stock Market - Homecare24

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Big tech companies are continuing to pour cash into artificial intelligence at a breakneck pace. And based Bion the earnings update Wednesday from Nvidia, much of it is going to that chip maker. “This last year, we’ve seen generative AI really becoming a whole new application space, a whole new way of doing computing,” Jensen Huang, Nvidia’s co-founder and chief executive, said Wednesday. “A whole new industry is being formed, and that’s driving our growth.”

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Pharmacies across the country are reporting delays to prescription orders due to a cyberattack against one of the nation’s largest health-care technology companies. Change Healthcare, a company handling orders and patient payments throughout the U.S., first noticed the “cyber security issue” affecting its networks Wednesday morning on the East Coast. 

Here’s where the major benchmarks ended:

  • The S&P 500 index rose 105.23 points (2.1%) to 5,087.03; the Dow Jones Industrial Average gained 456.87 points (1.2%) to 39,069.11; the NASDAQ Composite rallied 460.75 points (3%) to 16,041.62.
  • The 10-year Treasury note yield (TNX) was little changed at 4.323%.
  • The CBOE Volatility Index® (VIX) fell 0.84 to 14.50.

Nvidia sparked a 5% rally in the Philadelphia Semiconductor Index (SOX) and a 3% gain in the NASDQ-100® (NDX), both of which ended at all-time highs. Consumer discretionary shares were also among the strongest sectors Thursday. The small-cap Russell 2000® Index (RUT) rose 1% and halted a three-day slide.

According to Joe Mazzola, director of trading and education at Schwab, Nvidia had a “profound effect” at both the sector and index level, partly reflecting its market value, which is nearing $2 trillion. Nvidia is now the third largest company behind Microsoft (MSFT) and Apple (AAPL).

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15: PODCAST: CPAs are Out … Are CMPs™ In?

Posted on February 22, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

CERTIFIED MEDICAL PLANNER™

By Staff Reporters

SPONSOR: http://www.CertifiedMedicalPlanner.org

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The giant accounting firm Grant Thornton LLP is laying off 200 people, its second round of layoffs in the past six months and an indication that the major players in the professional consulting, accounting and advisory business are preparing for an economic slowdown that could squeeze profits across corporate America.

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Statistics: 7.4%. That’s the percentage drop in students who graduated with a degree in accounting in the 2021–2022 school year than the year before. Low starting salaries, heavy workloads, and uncertainty around AI are driving the exodus of students from choosing accounting degrees. (the Wall Street Journal).

MORE: https://www.wsj.com/lifestyle/careers/accounting-salary-cpa-shortage-dec2caa2?utm_campaign=mb&utm_medium=newsletter&utm_source=morning_brew

PODCAST: https://www.ted.com/talks/dan_bricklin_meet_the_inventor_of_the_electronic_spreadsheet

CMP RELATED: https://medicalexecutivepost.com/2023/10/29/become-a-board-certified-medical-planner-healthcare-niche-advisor-and-thrive/

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DAILY UPDATE: Healthcare Artificial Intelligence Safety as the DJIA Sets Record

Posted on December 15, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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SPONSOR: http://www.MarcinkoAssociates.com

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Twenty-eight healthcare companies, including CVS Health , are signing U.S. President Joe Biden’s voluntary commitments aimed at ensuring the safe development of artificial intelligence (AI), a White House official said yesterday. The commitments by healthcare providers and payers follow those of 15 leading AI companies, including Google, OpenAI and OpenAI partner Microsoft to develop AI healthcare models responsibly.

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Health insurance company Humana is being accused of allegedly wrongfully denying care to elderly patients, who are enrolled in Medicare Advantage Plans, using an augmented intelligence model “to override” physicians’ orders on “necessary care patients require,” according to a new lawsuit.

The lawsuit, filed by two Humana Medicare Advantage Plan customers on December th 12 in Kentucky, claims that Humana uses an AI model called nH Predict, and it allegedly has a high error rate. And allegedly, despite knowing that it’s inaccurate, the company still uses it.

Related: CVS, Kroger and Rite Aid face unsettling medical privacy concerns

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Here is where the major benchmarks ended:

The S&P 500 index was up 12.46 points (0.3%) at 4,719.55; the Dow Jones Industrial Average was up 158.11 points (0.4%) at 37,248.35; the NASDAQ Composite® (COMP) was up 27.59 points (0.2%) at 14,761.56.

  • The 10-year Treasury note yield (TNX) was down about 11 basis points at 3.923%, falling under 4% for the first time since early August.
  • The CBOE® Volatility Index (VIX) was up 0.25 at 12.44.

Financial shares remained among the market’s strongest post-FOMC gainers, reflecting ideas that lower interest rates will boost profit margins for banks. Goldman Sachs (GS) rallied nearly 6%, the second-best gain among Dow companies, and hit a 23-month high. The KBW Bank Index (BKX), which includes major companies like Bank of America (BAC) and Citigroup (C) as well as several regional lenders, surged 5% to a nine-month high.

Also, the small-cap Russell 2000® Index (RUT) continued to outgain large-cap counterparts, rising 2.7% to a 4 ½-month high.

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The UK Questions Microsoft & OpenAI as Aetna Medicaid Aids Hungry Homeless

Posted on December 12, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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SPONSOR: http://www.MarcinkoAssociates.com

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United Kingdom Regulators Looking into Microsoft’s Partnership with OpenAI

A British watchdog is asking for feedback on whether Microsoft’s $13 billion, 49% stake in the ChatGPT-maker’s for-profit division constitutes a merger, the WSJ just eported. So, if the agency decides to launch a formal investigation into whether the partnership creates an unfair advantage in the artificial intelligence industry, it could eventually force the companies to change how they operate.

And, following OpenAI’s dramatic firing and rehiring of CEO Sam Altman last month, Microsoft was given a “nonvoting observer” seat on the OpenAI board.

CITE: https://www.r2library.com/Resource

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Aetna Better Health of Georgia has invested $510,000 in 17 local organizations that offer services for individuals experiencing food insecurity and homelessness across the state of Georgia.

“A holistic approach to health care starts with ensuring each individual has stable and consistent access to healthy, nutritious foods, as well as a safe place to live,” said Sonya Nelson, division president at Aetna Medicaid. “By partnering with local organizations committed to improving the quality of life for all Georgians, we can help ensure people’s most basic needs are fulfilled and they’re able to prioritize care for themselves and their families.”

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GEMINI: Google’s Large Language Model Released

Posted on December 7, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

LLM

By Staff Reporters

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Gemini: Google's Latest AI Challenging GPT-4 - YouTube
  • About a year after OpenAI’s launch of ChatGPT brought the simmering artificial intelligence race to a boil, Google’s highly anticipated AI model, Gemini, has finally joined the competition. Released yesterday, Gemini is a large language model (LLM) that Google CEO Sundar Pichai and executives at the company’s DeepMind AI division say will revolutionize generative technology for business and daily life.

The tech is a family of three models that Google is slowly looping into its suite of services:

  • Gemini Nano is mainly for mobile devices. As of yesterday, Google Pixel 8 Pro owners could enlist Gemini Nano to summarize audio recordings or draft automatic message replies.
  • Gemini Pro is a midsize offering designed for more complex tasks. Pro now powers Google’s chatbot, Bard, but the AI tech isn’t available to Google Cloud customers until Dec. 13.
  • Gemini Ultra, the powerhouse version geared toward data centers and large companies, will launch next year and underpin “Bard Advanced,” a new chatbot that will be able to simultaneously process text, images, audio, and video, according to Google’s prerecorded demonstrations.

If Gemini can do what Google promises, it could chip away at OpenAI’s lead in the LLM space.

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DAILY UPDATE: Interest Rate Cuts, CPA Holidays Spending Watch and the Markets

Posted on November 28, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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SPONSOR: http://www.MarcinkoAssociates.com

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Wall Street is gearing up for rate cuts. Yep! Twenty months after the Federal Reserve began a historic campaign against inflation, investors now believe there is a much greater chance that the central bank will cut rates in just four months than raise them again in the foreseeable future.

Interest-rate futures indicated last week a roughly 60% chance the Fed will lower rates by a quarter-of-a-percentage point by its May 2024 policy meeting, up from 29% at the end of October, according to CME Group data. The same data has pointed to four cuts by the end of the year. And, investors, battered by the Fed’s efforts to slow the economy, have reacted by driving the S&P 500 up nearly 9% this month. That is despite the wagers reflecting different possible paths for the economy, not all of them favorable for stocks.

Of course, investors look ahead to the release this week of key US inflation data that could provide a guide for the Federal Reserve’s plans for interest rates going into the new year.

CITE: https://www.r2library.com/Resource

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Read: Can AI save accounting? (the Journal of Accountancy)

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Here is where the major benchmarks ended:

  • The S&P 500 Index was down 8.91 points (0.2%) at 4,550.43; theDow Jones Industrial Average® (DJI) was down 56.68 points (0.2%) at 35,333.47; the NASDAQ Composite® was down 9.83 points (0.1%) at 14,241.02.
  • The 10-year Treasury note yield (TNX) was down about 10 basis points at 4.387%.
  • CBOE Volatility Index® (VIX) was up 0.23 at 12.69.

Transportation shares were among the weakest performers Monday, and energy was also soft behind a drop in crude oil futures. Weakness in many retail stocks suggested some concern over consumer spending given high interest rates and slower job growth. The S&P Retail Select Index (SPSIRE) fell 0.6% but is still up 8.2% for the month. Consumer discretionary and real estate shares were among the few gainers.

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NVIDIA UPDATE: Smashes Revenue Expectations!

Posted on November 22, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The good times keep rolling for the chip maker. Q3 revenue increased 206% year over year to $18.1 million, topping Wall Street’s estimates of about $16.2 billion. The company’s stock has more than tripled amid the AI boom this year, accounting for a big part of the S&P 500’s tech-fueled rise.

And yet, shares ticked down from record highs in after-hours trading on Tuesday after Nvidia tempered expectations for Q4 due to new restrictions on chip exports to China.

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DAILY UPDATE: Nvidia Up, Zhao of Binance is Out and the Stock Index Win Streak Ends

Posted on November 22, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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How to Close Binance Account - Cryptalker

SPONSOR: http://www.MarcinkoAssociates.com

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Nvidia reported another quarter of record sales and gave a strong revenue outlook, pointing to red-hot demand for chips that underpin the artificial-intelligence boom. Huge investments in AI by tech giants from Microsoft to Amazon.com and by other large corporations have helped propel Nvidia’s sales to unprecedented levels in recent quarters.

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The chief executive of Binance, the largest global cryptocurrency exchange, plans to step down and plead guilty to violating criminal U.S. anti-money-laundering requirements, in a deal that may preserve the company’s ability to continue operating, according to people familiar with the matter. And, the U.S. Department of Justice has just brought criminal charges against Binance and its billionaire founder and CEO, Changpeng Zhao.

Here is where the major benchmarks ended:

The S&P 500 Index was down 9.19 points (0.2%) at 4,538.19; the Dow Jones Industrial Average® (DJI) was down 62.75 points (0.2%) at 35,088.29; the NASDAQ Composite was down 84.55 points (0.6%) at 14,199.98.

  • The 10-year Treasury note yield (TNX) was down about 2 basis points at 4.404%.
  • The CBOE Volatility Index® (VIX) was down 0.06 at 13.35.

Financial and technology shares were among the weakest sectors Tuesday, with the KBW Regional Banking Index (KRX) dropping 2.1%. Small-cap stocks also gave back some of a recent rally, as the Russell 2000® Index(RUT) fell 1.3% after touching a two-month high Monday. Health care, materials and utilities were among the few sectors to post gains.

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DAILY UPDATE: ChatGPT Anniversary

Posted on November 12, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

SPONSOR: http://www.MARCINKOASSOCIATES.com

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ChatGPT was launched nearly a year ago, in November 2022. Powered by a large language model trained on 570 gigabytes of internet data (300 billion words), the chatbot can generate text that eerily mimics human speech—but with far more information at its disposal than an actual person. Amazon is not the only company using AI to create theoretically better ads.

  • Meta announced its version of an ad generator last month, promising advertisers “a new era of creativity that maximizes the productivity, personalization, and performance” of campaigns.
  • Google says its product will allow the future of advertising to evolve.
  • TikTok has Creative Assistant, which “draws information from a wealth of TikTok-focused creative knowledge, providing you with the most relevant responses for when you’re creating ads.”

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But, ChatGPT is not the same for mental health. Experts are warning that while chatbots can offer basic mental health support, they’re not equipped to provide clinical support and can raise thorny issues.

  • Ethics: Therapists are trained and licensed and must maintain a certain standard of care; a chatbot isn’t and doesn’t.
  • Privacy: When you ask a chatbot a question, you could be putting sensitive information on the internet.
  • Safety: A chatbot can give false information (more on that below) or provide harmful instructions.

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ChatGPT in Education:

  • The bar exam: GPT-4 was in the 90th percentile with a score of 298 out of 400. GPT-3.5 came in the 10th percentile.
  • The SAT: GPT-4 scored 1400 out of 1600, ranking in the 89th percentile of test-takers. GPT-3.5 scored 1260.
  • AP exams: GPT-4 received a 5 on Art History, Biology, Environmental Science, Macroeconomics, Microeconomics, Psychology, Statistics, US Government, and US History, according to OpenAI. GPT-3.5 received a 5 only on Art History and Psychology.
  • Sommelier exams: GPT-4 has also passed the Introductory Sommelier, Certified Sommelier, and Advanced Sommelier exams with scores of 92%, 86%, and 77%, respectively. GPT-3.5 had a less discerning palate, earning marks of 80%, 58%, and 46%.

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HEALTHCARE: Business News

Posted on November 8, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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House Democrats want CMS to better monitor Medicare Advantage plans’ use of AI tools to ensure they don’t allow an unusually high level of restrictive and repeated denials.

Kaiser Permanente continues to rebound from a rough 2022 and pulled in $239 million in net income in Q3. That marks a dramatic turnaround from the $1.5 billion net loss the integrated system had seen a year prior.

CITE: https://www.r2library.com/Resource

And … during the Milken Institute’s Future of Health Summit Monday, former HHS Secretary Alex Azar and current department chief Xavier Becerra sparred over the Biden administration’s approach to negotiating Medicare drug prices.

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Finally, family physicians utilizing value-based payment (VBP) models reported burnout relief in a study from EHR company Elation Health and the American Academy of Family Physicians. Burnout among providers decreased once practices passed a threshold of 75% financial investment in VBP models.

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DAILY UPDATE: A.I. Financial Audits, Microsoft & Amazon and the Mixed Markets

Posted on November 7, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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We’ve all known the AI audit is coming—but a new report from KPMG proves just how popular AI has already become in the audit process. The report polled more than 200 financial reporting leaders in the US between July and August. The headline takeaway? The AI audit is already close to ubiquitous.

Sixty-five percent of respondents said they’re already using AI in their job functions, while 49% said they’ve “piloted or deployed generative AI solutions.” Meanwhile, 71% said they expect to use AI “extensively in the next three years.”

CITE: https://www.r2library.com/Resource

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Microsoft and Amazon are reportedly in the midst of a mega deal summing up to approximately $1 billion.The deal will help Amazon acquire 550,000 Microsoft 365 E5 licenses for its corporate workers, alongside one million Microsoft 365 F5 licenses for its front line employees.Amazon employees already use traditional, on-premises Microsoft Office software, but the company is now gearing up to transition to cloud-based productivity tools.

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Here is where the major benchmarks ended:

  • The S&P 500 Index was up 7.64 points (0.2%) at 4,365.98; the Dow Jones Industrial Average was up 34.54 points (0.1%) at 34,095.86; the NASDAQ Composite (COMP) was up 40.50 points (0.3%) at 13,518.78.
  • The 10-year Treasury note yield was up about 9 basis points at 4.649%.
  • CBOEs Volatility Index (VIX) was down 0.02 at 14.89.

Oilfield services shares and other energy companies were among the weakest performers Monday despite crude oil futures rising after Saudi Arabia and Russia reaffirmed commitments to extra voluntary oil supply cuts until the end of the year.

The banking and real estate sectors were also under pressure. Health care stocks led gainers, as the S&P 500 Health Care Index (SP500-35) climbed to its highest level in nearly three weeks. The small-cap-focused Russell 2000 Index (RUT) dropped about 1.3%

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President Bidens Executive Order on Artificial Intelligence

Posted on October 30, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Biden will issue sweeping executive order on A.I. Today

The Biden administration just released an executive order today to regulate AI technology. The directive aims to leverage the government’s role as a leading technology customer by requiring advanced AI models to undergo assessments before they can be used by federal employees. It would also ease barriers to immigration for highly skilled workers in an attempt to boost the US’ technological edge.

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MORE Fierce Healthcare NEWS

The Biden administration has proposed a new rule refining several aspects of the healthcare services billing process in response to criticisms levied from all sides of the industry.

The federal government is rolling back a pandemic-era waiver that lowered the bar for 340B hospitals to dispense discounted drugs across some outpatient clinics. Hospitals argue the decision will “stifle” future efforts to expand access to under served communities.

And … Amazon Pharmacy is focused on making it faster and more convenient for patients to get prescription medications. The company’s moves come as brick-and-mortar drugstores are limiting pharmacy hours and even closing locations.

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MICROSOFT A.I. New Tools to Help Doctors Deliver Better Patient Care

Posted on October 19, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Bertalan Mesko MD PhD

“The Medical Futurist”

Microsoft introduced new tools in Microsoft Fabric and Azure AI for healthcare organizations.

These can combine data from sources such as electronic health records, images, lab systems, medical devices, and claims systems so organizations can standardize it and access it in the same place.

READ MORE: Here

PODCAST: https://www.youtube.com/watch?v=NPoqrTUpcbc

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ChatGPT: Accuracy in Clinical Medical Decision Making?

Posted on September 10, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

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By Dr. David Edward Marcinko MBA FACFAS CMP

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Putting ChatGPT to the test to see if AI can work through an entire clinical encounter with a patient – recommending a diagnostic workup, deciding a course of action and making a final diagnosis – Mass General Brigham researchers have found the large language model to have “impressive accuracy” despite limitations, including possible hallucinations. 

Colleague Bertalan Meskó, MD PhD, The Medical Futurist, sent me the following fascinating report.

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A recent study revealing ChatGPT’s high scoring in clinical decision accuracy has made waves. While the results are certainly promising, it’s crucial to keep in mind that these tests capture only a fraction of the myriad skills and knowledge required to treat patients – and we need to interpret the implications accordingly.

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RETAIL: Sales

Posted on August 18, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Stat: 0.7%. That’s how much retail sales grew last month, a sign that inflation isn’t dampening consumer spending or demand. (CNBC)

Quote: “This is pure market economics. We do not magically have thousands of additional AI developers, product managers, and everything else.”—Paul J. Groce, partner and head of the Americas at recruitment firm Leathwaite, on how a talent shortage is driving up wages for AI positions. (the Wall Street Journal)

Read: The teetering company threatening China’s economy. (the New York Times)

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Generative AI Disruption in the Healthcare Industry

Posted on August 17, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Health Capital Consultants, LLC

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Generative artificial intelligence (AI) is the utilization of algorithms to create content such as text, code, imagery, videos, and even simulations in mere seconds. The goal of AI generally is to mimic the intelligence of humans to perform tasks, with generative AI (a type of AI) aiming to learn from data without the assistance of humans. While today’s generative AI bots are not yet prepared for widespread utilization in patient care settings, AI is garnering significant interest in the healthcare industry as providers begin to test the capabilities of AI in clinics and offices.

This Health Capital Topics article will review the role that generative AI is beginning to play in the U.S. healthcare system, the potential of AI in healthcare, and concerns related to the technology. (Read more…)

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MARKETS & ECONOMY …. Oh My?

Posted on July 26, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

MICRO-CERTIFICATION SPONSOR: https://tinyurl.com/5n7jxxzb

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  • Markets: The Dow is on a run for the ages, extending its winning streak to 12 days. But, Spotify revealing widening losses due to its failed podcasting investments and projected lower revenues. And its stock plunge came despite adding a record number of new subscribers.
  • Economy: All eyes are on the FOMC today: With another rate hike pretty much a lock, investors will seek Jerome Powell’s comments to see whether the Fed is considering any more increases.

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  • Alphabet, which declared a “code red” for Google Search late last year as rivals like ChatGPT and Microsoft’s AI-equipped Bing came on the scene, is chugging right along. Google’s search advertising sales grew to a better-than-expected $42.6 billion. And, most people haven’t made ChatGPT their default search engine.
  • Microsoft beat expectations on its top- and bottom lines and told investors that it had spent, and would continue spending, gobs of money to build out AI infrastructure.

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Snap. The social media platform just rolled out an AI chatbot, My AI, and boasted that 150+ million users have sent over 10 billion messages to it. But, still fighting against the likes of TikTok for ad spending in a sluggish market, Snap’s sales dropped for the second straight quarter, causing shares to plummet 19% after-hours.

Conference calls: Meta reports earnings today, and Amazon and Apple report next week.

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MID-YEAR: Stock Market Wrap-Up

Posted on July 3, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Investors are coming out of the mid-year investing season enthused and thanks to an Artificial Intelligence fueled stock market rally that turned into an everything rally.

The NASDAQ posted its best H1 since 1983, and the S&P 500 had its best first-half performance since 2019.

But, don’t expect Wall Street fireworks for the next few days. The US stock market will close early today and shut down tomorrow for Independence Day.

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AMA PROPOSAL: Regulating Misleading A.I. Generated Advice to Patients

Posted on June 19, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Referral Change Was Resolution 504
AMERICAN MEDICAL ASSOCIATION HOUSE OF DELEGATES
Resolution: 256 (A-23)
Introduced by: American Society for Surgery of the Hand, American Association
of Hand Surgery
Subject: Regulating Misleading AI Generated Advice to Patients
Referred to: Reference Committee

The American Medical Association (AMA) just voted to adopt a proposal to help protect patients against false or misleading medical information from artificial intelligence (AI) tools such as generative pre-trained transformers (GPT), etc.

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IPO: CAVA The Mediterranean Food Chain, and Artificial Intelligence

Posted on June 16, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Stocks climbed again yesterday—and it wasn’t just tech companies carrying the team this time. The DJIA was the best-performing major index, showing how the current market rally is spreading beyond the A.I. frenzy. But the Artificial Intelligence frenzy is still frenzied. Microsoft, seen as the de facto AI leader, hit a record high.

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On Wall Street yesterday, CAVA went public in the sixth-biggest US IPO of the year. Shares of the Mediterranean fast-casual chain popped 99%, giving it a market value of $4.9 billion at market close. Cava’s successful debut could inspire other restaurant brands, such as Panera and Fogo De Chão, to accelerate their plans to go public and wake up a slow IPO market.

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DAILY UPDATE: Elizabeth Holmes to Jail 2 Day & A.I.

Posted on May 30, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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  • Theranos’ founder, Elizabeth Holmes, is finally set to report to prison today. After several delays, she’s expected to report to a federal prison in Texas by 2 p.m. Once worth $4.5 billion, Holmes can expect a drastic change in lifestyle. The Theranos founder turned convicted fraudster is set to bid adieu to her freedom and her estate home costing $13,000 a month as she commences an 11-year prison sentence.
  • MORE: https://www.bbc.com/news/world-us-canada-65678967

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The AI hype train that left the station last November with ChatGPT’s release made its grand arrival on Wall Street last week. According to Bloomberg, the top seven tech stocks (Microsoft, Alphabet, etc.) gained a combined $454 billion in market cap over five days, fueled by Nvidia’s earnings report that many considered a watershed moment for the technology. AI’s disruptive potential is why the tech-heavy Nasdaq is leaving the other indexes in the dust this year.

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ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

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STUDY: ChatGPT Out Performs Doctors?

Posted on May 30, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

Answering Patient Messages

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The study on ChatGPT “outperforming” doctors in answering patient questions quickly became the talk of the town. However, as is often the case, it was presented as a prime example of media sensationalism. 

As we encounter more of these partially misinterpreted hypes – and rest assured, there will be many – we’ll need to navigate a sea of questions. Firstly, we must determine what AI can genuinely do better than healthcare professionals. Secondly, we need to consider how to identify unique areas where healthcare workers can assist patients, while AI automates repetitive and data-driven tasks.

READ: https://medcitynews.com/2023/04/chatgpt-ai-healthcare-patient-messaging/?utm_source=The+Medical+Futurist+Newsletter&utm_campaign=98c09c20fb-EMAIL_CAMPAIGN_2022_02_01_COPY_01&utm_medium=email&utm_term=0_efd6a3cd08-98c09c20fb-399696053&mc_cid=98c09c20fb&mc_eid=40fee31c25

I hope you will find our newsletter useful!

Best regards,
Bertalan Meskó, MD, PhD
The Medical Futurist

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STOCK MARKETS: Tech Giants Awakening?

Posted on May 23, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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  • Last week, investors shrugged off debt ceiling worries to send the S&P and the NASDAQ to their best weekly performance since March. Tech stocks have posted impressive gains this year thanks to the hype around artificial intelligence:
  • Four giants that have made a big deal about investing in AI—Meta, Alphabet, Microsoft, and Nvidia—have surged in 2023 and now account for ~15% of the S&P 500’s market capitalization, according to Barron’s.

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Happy Birthday Florence Nightingale [203rd]

Posted on May 12, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Happy 203rd birthday to Florence Nightingale, the founder of modern nursing. She rose to fame during the Crimean War, when her hygiene standards substantially reduced the mortality rate at army hospitals. The healthcare industry still relies on some of her ideas, such as using data as a tool to improve hospital care. The “lady with the lamp” is still lighting the path forward.

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Other Health Care Stories

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The CPI Report and Inflation

Posted on May 11, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Stocks were a mixed bag yesterday after the consumer price index showed prices rose 4.9% last month, marking the 10th month in a row of cooling inflation and the first time inflation has dipped below 5% in two years. That’s still higher than the Fed’s 2% target, but it leaves space for Jerome Powell to chill out a bit. Tech stocks got a boost from that news, especially Google’s parent, Alphabet, which also benefited from rolling out its new AI.

CITE: https://www.r2library.com/Resource

What drove the markets?

Economists polled by the Wall Street Journal had forecast the CPI increasing 0.4% and advancing 5.0% over the past year. The core inflation rate rose 0.4% in April for the second straight month, in line with economists forecasts. For the year, the core inflation rate, excluding food and energy prices, increased 5.5% down from a 5.6% rise in March.

“The below 5% headline CPI number is a sigh of relief to a market on edge,” said Alexandra Wilson-Elizondo, co-head of portfolio management for multi asset solutions at Goldman Sachs Asset Management.

Traders hoped that the lower-than-expected inflation data may leave room for the U.S. central bank to refrain from raising interest rates further at its June meeting.

“The data today will be interpreted as not hot enough to force the Fed’s hand in June … We do not think this one data point will determine the outcome of the June FOMC meeting because we still have a string of economic data to process between now and then,” wrote Wilson-Elizondo.

“The details of the print suggest that we are still a meaningful distance from the Fed’s 2% target, giving little reason for the Fed to cut this year.”

Investors priced in the Federal Reserve beginning to trim borrowing costs in coming months, a hope that is seen underpinning stocks of late and helping the S&P 500 index move towards the top of the 3,800 to 4,200 range its has held all year.

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Financial-Tech [Entrepreneurial Start-Ups] Falling

Posted on April 26, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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DEFINITION: Financial technology (abbreviated fintech or FinTech) is the technology and innovation that aims to compete with traditional financial methods in the delivery of financial services. Artificial intelligence, Blockchain, Cloud computing, and big Data are regarded as the “ABCD” (four key areas) of FinTech. The Fintech industry is an emerging industry that uses technology to improve activities in finance. The use of smartphones for mobile banking, investing, borrowing services, and cryptocurrency are examples of technologies aiming to make financial services more accessible to the general public.

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Financial technology companies consist of both startups and established financial institutions and technology companies trying to replace or enhance the usage of financial services provided by existing financial companies.

CITE: https://www.r2library.com/Resource/Title/082610254

A subset of fintech companies that focus on the insurance industry are collectively known as insurtech or insuretech

READ: https://tinyurl.com/yrx2kxy4

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INVESTING: https://www.amazon.com/Comprehensive-Financial-Planning-Strategies-Advisors/dp/1482240289/ref=sr_1_1?ie=UTF8&qid=1418580820&sr=8-1&keywords=david+marcinko

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META Launches LLaMA

Posted on February 26, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

Large Language Model Meta AI

By Staff Reporters

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Meta joins the AI race with LLlaMa

Well, not *a* llama, but LLaMA, which stands for Large Language Model Meta AI, Meta announced yesterday. Large language models are the tech that fuels applications like OpenAI’s ChatGPT or Google’s Bard.

But LLaMA may be more democratized than its peers in two ways: 1) Any researcher can see its inner workings, which isn’t the case for Google, OpenAI, or Bing and 2) It’s petite compared to its peers, which means it costs less to operate.

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ChatGPT: A Microsoft Start-Up Venture!

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PODCAST: Nuance DAX: Conversational Healthcare A.I.

Posted on February 11, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

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In the patient-physician relationship, time is precious. Nuance DAX helps physicians to focus on patient care during appointments—instead of paperwork and documentation. Nuance DAX uses sophisticated conversational AI and ambient technology to capture and contextualize the patient encounter, reducing documentation time by 50%.

Learn more.

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ARTIFICIAL INTELLIGENCE: Google V. Microsoft

Posted on February 8, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

The AI Gloves are Coming Off?

By Staff Reporters

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Google (GOOG, GOOGL) just announced several new AI-powered features for its Search, Maps, and Lens apps. The announcement comes just a day after rival Microsoft (MSFT) rolled out a new version of its Bing search engine complete with generative AI capabilities, bringing a rare threat to Google’s search supremacy.

But, shares of Google parent company Alphabet were down more than 7% today as investors expressed skepticism about these new features.

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ORDER: https://www.amazon.com/Dictionary-Health-Information-Technology-Security/dp/0826149952/ref=sr_1_5?ie=UTF8&s=books&qid=1254413315&sr=1-5

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ChatGPT: A Microsoft Start-Up Venture!

Posted on January 17, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Microsoft is reportedly preparing for its largest startup investment in history: a $10 billion stake in OpenAI that could value the research lab at $29 billion. OpenAI is the creator of potentially groundbreaking AI tools like ChatGPT, the multitalented chatbot that can code in Python and help high schoolers cheat on English essays.

MSFT has already invested $1 billion in OpenAI, but thinks an even tighter relationship would help it better compete with Big Tech rivals like Google (which reportedly declared a “code red” over ChatGPT’s threat to its search dominance).

But Microsoft’s AI ambitions go beyond just integrating ChatGPT know-how into its own search engine, Bing. The company wants to use OpenAI’s tools in its Office suite—and it’s already experimenting with algorithms to help users craft emails in Outlook.

OpenAI was founded in 2015 as a mission-based AI research organization by a roster from Silicon Valley’s A-list, including Elon Musk. Its stated goal is to develop safe AI for the benefit of humanity. But OpenAI has plenty of critics who have called it out for ethical concerns, a lack of transparency, and abandoning its mission for profits.

According to MorningBrew, a slew of buzzy AI product releases in 2022 has startup investors forgetting they ever heard the word “metaverse.” Languishing in the prolonged crypto winter and facing an uncertain economic environment, many venture capitalists see the field as the next big thing to shovel money into their coffers.

MORE :https://www.kevinmd.com/2023/01/revolutionizing-medicine-how-chatgpt-is-changing-the-way-we-think-about-health-care.html

RELATED: https://medicalexecutivepost.com/2023/01/18/about-turn-it-in/

UPDATE: Bill Gates just hinted that he may be working on Open AI’s large language chatbot ChatGPT in collaboration with Microsoft if the reported $10 billion investment in the start-up goes through. Gates also admitted that he’s still involved with the company’s research and product plans, and said he’s watching the developments in ChatGPT “very closely.”

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PODCAST: Healthcare Machine Learning Can Self Create / Improve Algorithms?

Posted on October 18, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

Machine Learning is a Subset of Artificial Intelligence (AI) Where Computer Software Can Create and Improve on Algorithms on Its Own.

Machine Learning for Population Health

PODCAST: 'Hacking of the American Mind' | The Leading ...

By Eric Bricker MD

Healthcare Machine Learning Company ClosedLoop.ai is One of the Best at Applying Machine Learning to Population Health Data.

ClosedLoop.ai is So Good, They Won the CMS AI Challenge … Beating Out 300 Other Organizations Including IBM, the Mayo Clinic and Deloitte.

The Promise of Machine Learning in Population Health is to Better Predict Which People Will Benefit From an Intervention Because They Are at Greater Risk of a Complication of a Disease or an ER Visit or a Hospitalization.

ClosedLoop.ai Beautifully Applied Their Machine Learning Abilities to Create a Pandemic Risk Model That Helped a New York City Health Insurance Plan Identify Which Members Would Be Most Likely to Have Severe Complications of COVID-19.

As a Result, the Insurance Company Helped These Individuals Have Groceries and Prescription Medication Delivered to Them So They Could Stay at Home and Avoid Exposure to COVID.

There You Have It!  A Practical, Real-World Example of Machine Learning in Population Health That Literally Saved Some People’s Lives.

Disclaimer: Dr. Bricker is the Chief Medical Officer of Virtual Care Company First Stop Health.

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HIT: https://www.amazon.com/Dictionary-Health-Information-Technology-Security/dp/0826149952/ref=sr_1_5?ie=UTF8&s=books&qid=1254413315&sr=1-5

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METAVERSE: Potential in the Healthcare Industry

Posted on October 16, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The metaverse could be a huge technological change for health care, just like telemedicine and mobile device integration were in the past.

This technology has huge potential because it uses both virtual reality (VR) and augmented reality (AR) technology to work in virtual spaces: All signs point to the metaverse being widely used as a disruptive change in healthcare, from better surgical precision to therapeutic uses to social-distance accommodations and more.

But along with these improvements come new problems that will change what we know about modern healthcare. The metaverse is a paradigm shift in healthcare that everyone involved needs to be aware of. This is because it changes how medical infrastructure is built, how startup costs are covered, and how data security and privacy are handled.

To help you understand how the metaverse development services will change healthcare as a whole, let’s take a look at the pros and cons of this technology that are already making a difference in healthcare.

READ HERE: https://factstea.com/potential-metaverse-healthcare-industry/


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DHITS: https://www.amazon.com/Dictionary-Health-Information-Technology-Security/dp/0826149952/ref=sr_1_5?ie=UTF8&s=books&qid=1254413315&sr=1-5

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PODCAST: Machine Learning For Population Health

Posted on September 10, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

BY ERIC BRICKER MD

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POPULATION HEALTH: https://medicalexecutivepost.com/2016/06/28/what-is-population-health/

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FOREWORD: https://medicalexecutivepost.com/wp-content/uploads/2007/10/foreword-mata.pdf

BUSINESS MEDICINE: https://www.amazon.com/Business-Medical-Practice-Transformational-Doctors/dp/0826105750/ref=sr_1_9?ie=UTF8&qid=1448163039&sr=8-9&keywords=david+marcinko

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SURVEY: Artificial Intelligence [A.I.] in Health Care

Posted on July 15, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

By AMA and MCOL

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JAMA: Public Views About Artificial Intelligence in Health Care

A recent JAMA survey asked “Overall, in the next 5 years, do you think AI will make health care in the United States?” The survey results were as follows:

 •  Much better: 10.9%
 •  Somewhat better: 44.5%
 •  Minimal change: 19.3%
 •  Somewhat worse: 4.3%
 •  Much worse: 1.9%
 •  Don’t know: 19%

Source: JAMA Network, May 4, 2022

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SURVEY: Medical Imaging A.I. Adoption?

Posted on June 20, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

By MCOL

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Medical Imaging A.I. Adoption Survey [3 Takeaways]

 •  When it comes to specific activities, 88% of respondents trust or are neutral about AI’s role in making appointments.
 •  Only 19% of respondents believed they received care supported by AI, while 24% did not know, and 58% believed they had not.
 •  60% think that AI will perform over half of radiology services in five years, with that number increasing to 75% of respondents in the next 20 years.

Source: Intelerad via HIT Consultant, “Patient Trust Not a Barrier to AI Medical Imaging Adoption,” May 31, 2022

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UPDATE: Sentient GOOGLE, Corporate Earnings, the Markets and Cryptocurrency

Posted on June 13, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Blake Lemoine, an engineer for Google’s responsible AI organization, described an AI system that he has been working on since last fall as sentient, with a perception of, and ability to express thoughts and feelings that was equivalent to a human child. He was promptly suspended.

Earnings Are Under Threat. Companies from Target to Microsoft have warned their results will be lower than expected, while analysts have trimmed earnings forecasts across industries. Investors will get further clarity next month when companies begin reporting results for the second quarter.

The S&P is in a historic slump having fallen in nine out of the past 10 weeks for just the third time since 1980. And cryptocurrencies, which trade 24/7, tumbled following another red-hot inflation report.


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Healthcare A.I. and Financial Outcomes Survey

Posted on May 3, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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17% of Healthcare Execs Said AI Would Affect Financial Outcomes

 •  60% of respondents expect AI to impact clinical outcomes.
 •  17% said AI would affect financial outcomes.
 •  13% said AI would impact their operation outcomes.
 •  9% said AI would impact administrative outcomes.
 •  61% of executives hope to bring about a complete digital transformation in their organizations within three to five years.

Source: Morning Consult via HealthIT Analytics, April 14, 2022

CITE: https://www.r2library.com/Resource/Title/082610254

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MEDICAL: Artificial Intelligence in EHRs

Posted on July 2, 2021 by Dr. David Edward Marcinko MBA MEd CMP™

ELECTRIC HEALTH RECORDS

By White Hat Anonymous

Epic Systems, the country’s leading e-health record company, says an algorithm it developed can accurately flag sepsis in patients 76% of the time. The life-threatening disease, which arises from infections, is a major concern for hospitals: One-third of patients who die in hospitals have sepsis, per the CDC. 

  • Generally, the earlier sepsis is diagnosed and treated, the better a patient’s chances of survival—and hundreds of hospitals use Epic Systems’s sepsis prediction model, The Verge reports. 

The problem: According to a study published this week in JAMA Internal Medicine, Epic Systems may have gotten the success rate wrong: The model is only correct 63% of the time—“substantially worse than the performance reported by its developer,” the researchers wrote. 

  • Part of the issue can be traced to the algorithm’s development, Stat News reports. It was trained to flag when doctors would submit bills for sepsis treatment—which doesn’t always line up with patients’ first signs of symptoms. 
  • “It’s essentially trying to predict what physicians are already doing,” Dr. Karandeep Singh, study author.

See the source image

When reached for comment, Epic Systems told us the researchers’ hypothetical scenario lacked “the required validation, analysis, and tuning that organizations need to do before deployment,” adding that the JAMA study’s findings differed from other research. 

CITE: https://medicalexecutivepost.com/wp-content/uploads/2007/10/foreword-mata.pdf

ORDER: https://www.amazon.com/Dictionary-Health-Information-Technology-Security/dp/0826149952/ref=sr_1_5?ie=UTF8&s=books&qid=1254413315&sr=1-5

Bottom line: Algorithms can augment healthcare, but the life-or-death nature of their use requires serious due diligence.

ASSESSMENT: Your thoughts are appreciated

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PODCAST: Artificial Intelligence in Health Care Today

Posted on June 1, 2021 by Dr. David Edward Marcinko MBA MEd CMP™

Transforming Health care ETHICALLY

By Stanford Online

[Drs. Serena Yeung and Matthew Lungreen]

Artificial intelligence has the potential to transform healthcare, driving innovations, efficiencies, and improvements in patient care.

WHITE-PAPER LINK: https://www.healthit.gov/sites/default/files/jsr-17-task-002_aiforhealthandhealthcare12122017.pdf

But, this powerful technology also comes with a unique set of ethical and safety challenges.

LINK: https://www.amazon.com/Dictionary-Health-Information-Technology-Security/dp/0826149952/ref=sr_1_5?ie=UTF8&s=books&qid=1254413315&sr=1-5

So, how can AI be integrated into healthcare in a way that maximizes its potential while also protecting patient safety and privacy? 

In this session faculty from the Stanford AI in Healthcare specialization discuss the challenges and opportunities involved in bringing AI into the clinic, safely and ethically, as well as its impact on the doctor-patient relationship.

They also outline a framework for analyzing the utility of machine learning models in healthcare and will describe how the US healthcare system impacts strategies for acquiring data to power machine learning algorithms.

https://www.youtube.com/watch?v=OgPYgzSk41M&t=5s

ASSESSMENT: Your thoughts are appreciated.

THANK YOU

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PODCAST: Healthcare Artificial Intelligence, Machine Learning and Natural Language Processing

Posted on May 18, 2021 by Dr. David Edward Marcinko MBA MEd CMP™

PODCAST ON UnitedHeathcare Group Annual Report

Dr. Eric R. Bricker, Internist in Dallas, TX | US News Doctors

By Eric Bricker MD

An Annual Report from UnitedHealth Group Says United is Going Drive Growth by Using AI and Machine Learning to 1) Help High Risk Patients, 2) Assist Patients with Multiple Chronic Diseases, 3) Partner with Providers and 4) Be More Patient-Centric.

Some More Concrete Examples of How AI and Machine Learning Can Be Used in Healthcare and Health Insurance Are:

1) Better Underwriting of Risk

2) More Highly Focused Prior Authorization

3) Cherry-Pick the Individual Health Insurance Market

However, the Execution of AI’s and Machine Learning’s Finding Requires Human Behavior Modification–an Almost Impossible Task for Any Insurance Carrier to Accomplish Because of Their Low Credibility with Patients, Doctors and Nurses. Without Credibility and Trust, All the AI and Machine Learning in the World Will NOT Change People’s Behavior.

PODCAST LINK: https://www.youtube.com/watch?v=c9knoA30sD4

Disclaimer: Dr. Bricker is the founder of Texas Family Insurance – an independent insurance agent that sells Oscar Health.

ASSESSMENT: Your comments are appreciated.

THANK YOU
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Could ARTIFICIAL INTELLIGENCE Help Make Health Care More Fair?

Posted on May 4, 2021 by Dr. David Edward Marcinko MBA MEd CMP™

Helping us believe what patients say

A new study shows how training deep-learning models on patient outcomes could help reveal gaps in existing medical knowledge.

By Karen Hao

In the last few years, research has shown that deep learning can match expert-level performance in medical imaging tasks like early cancer detection and eye disease diagnosis. But there’s also cause for caution.

Other research has shown that deep learning has a tendency to perpetuate discrimination. With a health-care system already riddled with disparities, sloppy applications of deep learning could make that worse.

LINK: https://www.technologyreview.com/2021/01/22/1016577/ai-fairer-healthcare-patient-outcomes/?truid=349b552221c994e2540a304649746d7c&utm_source=weekend_reads&utm_medium=email&utm_campaign=weekend_reads.unpaid.engagement&utm_term=emtech-next-2021&utm_content=05.01.all&mc_cid=3ae91e4c2b&mc_eid=72aee829ad

LIABILITY: And, what about malpractice liability?

LINK: https://qz.com/1905712/when-ai-in-healthcare-goes-wrong-who-is-responsible-2/

Your thoughts are appreciated.

THANK YOU

Risk Management, Liability Insurance, and Asset Protection Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™

ORDER TEXTBOOK: https://www.routledge.com/Risk-Management-Liability-Insurance-and-Asset-Protection-Strategies-for/Marcinko-Hetico/p/book/9781498725989

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Artificial Intelligence in Medicine!

Posted on April 6, 2021 by Dr. David Edward Marcinko MBA MEd CMP™

AI in Medicine – Who is Responsible?

[By staff reporters]

https://qz.com/1905712/when-ai-in-healthcare-goes-wrong-who-is-responsible-2/

 

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