DAILY UPDATE: PBMs and Healthcare A.I. as All Major Market Indexes Drop

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Stat: 97%. That’s how many healthcare leaders think A.I. will become important in healthcare over the next five years.

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Pharmacy benefit managers (PBMs) are once again under pressure from federal leaders. A group of Democratic and Republican congresspeople proposed legislation that would attempt to prevent pharmacies from also owning PBMs. The three largest PBMs—CVS Health’s Caremark, Cigna’s Express Scripts, and UnitedHealth Group’s Optum Rx—currently operate pharmacies and administer more than 80% of the prescriptions in the US, and officials have linked this practice to drug price increases.

CITE: https://tinyurl.com/2h47urt5

US stocks fell across the board on Tuesday, with the Dow logging its biggest losing streak in 46 years. The Dow Jones Industrial Average (^DJI) finished the session down roughly 0.6%, registering its ninth straight day of losses. The last 9-day losing streak for the Dow was Feb. 1978. Prior to that, the index suffered an 11-day losing streak in 1974 and another in 1971.

The other major indexes dropped in tandem on Tuesday, with the benchmark S&P 500 (^GSPC) falling around 0.4% and the NASDAQ Composite (^IXIC) losing about 0.3% after the tech-heavy index closed at a record high on Monday.

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Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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DAILY UPDATE: Home Buyers and Jeff Bezos as Stock Markets Soar!

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First-time homebuyers in 2024 had a median income of $97,000, and their median age was 38. ​​OpenAI and Jeff Bezos invested in Physical Intelligence, a robot startup with the aim of “bringing general-purpose AI into the physical world.”

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

Stocks Up

  • Cybersecurity darling Palantir soared 23.38% to a record high thanks to strong earnings, high AI demand, and big spending from the Department of Defense.
  • Astera Labs skyrocketed 37.70% after the semiconductor parts maker (and one of Nvidia’s key suppliers) announced strong earnings.
  • Crypto stocks had a great day thanks to a widespread cryptocurrency rally. Coinbase rose 4.13%, MicroStrategy gained 2.16%, and Riot Platforms jumped 8.13%.

Stocks Down

Trump Media & Technology Group arrested its recent downturn and popped 12% at one point today, but gave all those gains up and ended the day down 1.16%.

  • You’d think the end of a multi-week labor dispute costing billions of dollars would be a relief for shareholders, but Boeing still sank 2.62% on news that it’s reached an agreement with striking machinists.
  • It’s a me, lower revenue forecasts! Nintendo fell 1.68% after announcing that sales of its Switch console are starting to sag.
  • Wynn Resorts sagged 9.34% thanks to misses on both top and bottom line expectations last quarter.
  • Some of the smaller semiconductor stocks on the market took a beating today. NXP Semiconductor dropped 5.17% after announcing weaker-than-expected Q4 guidance, Lattice Semiconductor tumbled 1.37% after missing on sales forecasts and announcing job cuts, and while Cirrus Logic beat expectations this quarter, it still fell 7.09% on lower forecasts.

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Here’s where the major benchmarks ended:

  • The S&P 500® index (SPX) rose 70.07 points (1.23%) to 5,782.76; the Dow Jones Industrial Average® ($DJI) added 427.28 points (1.02%) to 42,221.88; and the NASDAQ Composite® ($COMP) increased 259.19 points (1.43%) to 18,439.17.
  • The 10-year Treasury note yield (TNX) dropped two basis points to 4.29%.
  • The CBOE Volatility Index® (VIX) slipped to 20.72.

CITE: https://tinyurl.com/tj8smmes

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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METAVERSE MEDICINE: A Paradigm Shift?

By Dr. David Edward Marcinko MBA MEd

SPONSOR: http://www.MarcinkoAssociates.com

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In what some are calling the next iteration of the internet, the metaverse is an unfamiliar digital world where you could be an avatar navigating computer-generated places and interacting with others in real time. In this space, the constraints of our physical, bricks and mortar world and travel habits fade. And new opportunities and challenges emerge.

CITE: https://www.r2library.com/Resource/Title/0826102549

For example:

  • Google in healthcare: The search giant has repeatedly successfully transferred its in-depth knowledge of algorithms in the field of medicine, particularly since it acquired DeepMind.
  • Apple in healthcare: Apple will keep on working on expanding the health features of its devices, Apple Watch and iPhones included.
  • Microsoft in healthcare: Microsoft’s cloud solutions provide integrated capabilities that make it easier to improve the healthcare experience.
  • Amazon in healthcare: Amazon will make further use of its vast knowledge of online shopping trends and behavior and will keep on providing what people need, from medicine to wearables.
  • IBM in healthcare: IBM has a lot to offer in federated learning, blockchain, and quantum computing.
  • Nvidia in healthcare: NVIDIA seems incredibly focused on its approach to healthcare. We can expect NVIDIA to be a leader in the use of artificial intelligence in healthcare.
  • Facebook in healthcare: The Metaverse developed by Facebook/Meta has incredible potential to revolutionize healthcare.

All 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.

CITE: https://www.r2library.com/Resource/Title/0826102549

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DAILY UPDATE: CVS Health and AI Healthcare Chatbots as Stocks Reach New Highs

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CVS Health may be breaking up…with itself. The board of directors at CVS Health—the parent company of CVS Pharmacy, pharmacy benefit manager CVS Caremark, and insurance unit Aetna—are working with a group of bankers to review the company’s strategy, which according to Reuters, may lead to a split between its pharmacy division and Aetna.

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

Stocks Up

  • Apple climbed 1.23% on a Bloomberg report that iPhone 16 demand has been shockingly strong in China.
  • Verizon Communications will purchase $1 billion worth of US Cellular’s wireless spectrum licenses. Verizon rose just 0.34%—but it’s a huge deal for US Cellular, which popped 7.22%, and Telephone and Data Systems, which owns 82% of US Cellular, and soared 15.40%.
  • Intuitive Surgical rose to a new all-time high, climbing 10.01% on strong earnings powered by sales of its da Vinci device.
  • Lamb Weston, the company behind the french fries you overindulge in every time you go out to dinner, is being pushed by activist investor Jana Partners toward exploring a sale. Shareholders rejoiced, and the stock rose 10.17%.

Stocks Down

CVS Health sank 5.23% on the news that CEO Karen Lynch will be replaced by David Joyner after three years at the helm of the struggling pharmacy/retailer. Joyner ran the company’s pharmacy service business for the last two years.

  • WD-40 seems like the staple of all consumer staples, but the company missed on both revenue and earnings estimates last quarter. Shares fell 4.79% on the news.
  • American Express dropped 3.15% after the credit card company reported a rare miss today, beating bottom-line estimates but missing revenue forecasts last quarter.
  • MGP Ingredients makes all the booze you drink under different brand names, but people aren’t drinking enough. The beverage maker issued preliminary earnings that included a 24% drop in sales. Shares tanked 24.16%.

CITE: https://tinyurl.com/2h47urt5

Here’s where the major stock market benchmarks ended:

  • The S&P 500® index (SPX)rose 23.20 points (0.40%) to 5,864.67, a new record high close, to end the week up 0.85%; the Dow Jones Industrial Average® ($DJI) added 36.86 points (0.09%) to 43,275.91, also another record high finish, to end the week up 0.96%; and the $COMP gained 115.94 points (0.63%) to 18,489.55 to end the week up 0.80%.
  • The 10-year Treasury note yield (TNX) fell two basis points to 4.07%.
  • The CBOE Volatility Index® (VIX) fell to 18.17, the lowest since September 30.

CITE: https://tinyurl.com/tj8smmes

A new survey results may prompt health systems to second-guess some of their future plans. A recent University of Michigan survey found 74% of adults ages 50+ have “very little or no trust” in health info generated by AI. Maybe it’s not time to roll out chatbots on patient portals just yet.

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Do Doctors Use ChatGPT in Clinical Decisions?

By Staff Reporters

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Are doctors using publicly available tools like ChatGPT? The answer, Fierce Healthcare finds, is yes. In the first in-depth look of its kind into physician use of public genAI tools, Fierce Healthcare spoke with nearly two dozen doctors, students, AI experts and regulators, and helped conduct a survey of more than 100 physicians. The reporting confirms that some doctors are turning to tools intended for non-clinical uses to make clinical decisions. 

More: https://jamanetwork.com/journals/jamainternalmedicine/fullarticle/2804309

A collaborative survey between Fierce Healthcare and physician social network Sermo found that 76% of respondents reported using general-purpose LLMs in clinical decision-making. With no standardized guidelines, lagging physician training and regulators racing to try to keep up with rapidly changing technology, guardrails to protect patients appear to be years behind current rates of utilization.

Source: Fierce Healthcare [10/8/24]

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NOBEL PRIZE CHEMISTRY: David Baker, Demis Hassabis and John Jumper in 2024

BREAKING NEWS

By Staff Reporters

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he 2024 Nobel Prize in chemistry has been awarded to a trio of scientists who used artificial intelligence to “crack the code” of almost all known proteins, the “chemical tools of life.”

The Nobel Committee lauded David Baker, a US biochemist, for completing “the almost impossible feat of building entirely new kinds of proteins,” along with Demis Hassabis and John Jumper, who work at Google DeepMind, for developing an AI model to predict proteins’ complex structures – a problem that had been unsolved for 50 years.

“The potential of their discoveries is enormous,” the committee said as the award was just announced in Sweden. The prize, seen as the pinnacle of scientific achievement, carries a cash award of 11 million Swedish kronor ($1 million).

READ: https://www.nobelprize.org

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NOBEL PRIZE PHYSICS: John Hopfield and Geoffrey Hinton in 2024

BREAKING NEWS

By Staff Reporters

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The Nobel Prize in Physics has been awarded to two researchers who helped build the foundations of the artificial intelligence that surrounds us today.

John Hopfield and Geoffrey Hinton both worked on machine learning techniques that would go on to power products such as ChatGPT.

Hopfield’s research is carried out at Princeton University and Hinton works at the University of Toronto.

MORE: https://www.nobelprize.org/

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The Artificial Intelligence [AI] Revolution

By Vitaliy Katsenelson CFA

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READ MORE HERE: The AI Revolution

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DAILY UPDATE: JPMorgan Chase, Bank of America, OpenAI and MSFT as Markets Continue Stock Rally

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OpenAI says its new model can reason like a person. The ChatGPT-maker released a preview of a new artificial intelligence model that’s officially called o1 named by its internal code name, Strawberry—a reference to AI’s inability to determine the correct number of r’s in the word.

Microsoft plans to lay off 650 people in its Xbox unit.

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

What’s up

  • Campbell Soup Company climbed 2.63% on the news that, after 155 years, it will change its name to The Campbell’s Company. No soup for you!
  • Wells Fargo somehow gained 2.37% after a US banking regulator declared its safeguards against money laundering weren’t strong enough.
  • Lululemon Athletica popped 2.54% after CEO Calvin McDonald bought more shares of the company, signaling confidence in the struggling retailer.
  • Uber drove 6.45% higher thanks to a deal with Alphabet’s Waymo to offer driverless taxi rides in Austin and Atlanta starting next year.
  • RH rose 25.46% a day after announcing shockingly strong earnings for the home-furnishing retailer.
  • Trump Media & Technology Group soared 11.79% on the former president’s announcement that he’s “not selling” his shares of the company.

What’s down

  • Adobe dropped 8.47% after beating top and bottom line forecasts last quarter but projecting weaker than expected earnings next quarter.
  • Garmin tumbled 5.12% after Barclays analysts downgraded the stock and cut their price target, citing the device-maker’s weak sales and low profit margin.
  • US-listed shares of Chinese retailers like Alibaba and PDD dropped 0.93% and 2.40%, respectively, on the news that President Biden announced the US will crack down on cheap goods from China. Etsy, which competes with these retailers, popped 7.56% on the news.
  • ViaSat sank 14.58% thanks to a deal between United Airlines and SpaceX to use Starlink satellites to provide free in-flight WiFi instead of ViaSat’s products.

CITE: https://tinyurl.com/2h47urt5

Here’s where the major benchmarks ended:

  • The SPX advanced 30 points (0.5%) to 5,626.02 and was up 4% for the week; the Dow Jones Industrial Average® ($DJI) gained 297 points (0.7%) to 41,393.78 and added 2.6% for the week; the NASDAQ Composite® ($COMP) rose 114 points (0.7%) to 17,683.98 and was 6% higher for the week.
  • The 10-year Treasury note yield (TNX) edged 2 basis points lower to 3.66%.
  • The CBOE Volatility Index® (VIX) fell 0.6 points to 16.48.

CITE: https://tinyurl.com/tj8smmes

JPMorgan Chase and Bank of America are pledging to put in more safeguards to prevent what their industry is infamous for: overworking junior employees, the Wall Street Journal reported this week.

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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PODCAST: Machine Learning for Population Health

By Eric Bricker MD

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ChatGPT: Considers Changing Corporate Structure

By Staff Reporters

SPONSOR: http://www.MarcinkoAssociates.com

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The Financial Times reports that the ChatGPT-maker is discussing changing its corporate structure, which currently has it governed by a nonprofit entity, to make it more attractive to investors as the company works to complete a funding round that values it at $100 billion.

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

Apple, Nvidia, and Microsoft (which is already a big OpenAI backer) are said to be considering participating in the investment round.

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GAP BETWEEN A.I. AND BEDSIDE: Participatory Workshop on the Barriers to the Integration, Translation, and Adoption of Digital Health Care and AI Startup Technology Into Clinical Practice

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The study examines the challenges of integrating new technologies in clinical practice, identified four primary barriers: insufficient knowledge of health system technology procurement protocols, which can vary across facilities; strict regulations and clinical trial requirements; obstacles in the health system technology procurement process; and competitive disadvantages for smaller startups.

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DAILY UPDATE: Nurses & AI, Private Equity & CPAs, Public Companies and the Hot July Stock Markets

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Private equity gets a big accounting firm yet. The March story about private equity firm New Market Capital buying a $2.8 billion stake in accounting firm Grant Thorton was a big story. Private equity is gobbling up accounting firms, signaling a potential sea change in how accounting firms will operate in the future, with “more than half” of the top 20 accounting firms in talks with private equity.

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

Here’s where the major benchmarks ended:

  • The S&P 500® index (SPX) rose 14.61 points (0.27%) to 5,475.09; the Dow Jones Industrial Average® ($DJI) climbed 50.66 points (0.13%) to 39,169.52; the NASDAQ Composite® ($COMP) added 146.70 points (0.83%) to 17,879.30.
  • The 10-year Treasury note yield (TNX) rose 12 basis points to 4.47%, the highest level since May 30 and back above its 50-day moving average, a technically important move.
  • The CBOE Volatility Index® (VIX) slipped to 12.19.

Crude oil is up sharply over the last month amid rising Middle East tensions.

What’s up

What’s down

  • Chewy stock popped then dropped 6.63% after Roaring Kitty revealed a 6.6% stake in the pet products company.
  • GameStop shares fell 5.35% after CEO Ryan Cohen posted on Twitter/X for the first time in months to advertise a job opening.
  • Uber fell 2.17% and Lyft fell 0.92% on the news that Massachusetts now requires both companies to pay rideshare drivers $32.50 an hour, plus benefits.
  • Cruise stocks sank on the news that Hurricane Beryl is stronger than expected and will disrupt service throughout the Caribbean. Norwegian Cruise Line fell 5.86%, Carnival fell 5.40%, and Royal Caribbean fell 1.86%.

CITE: https://tinyurl.com/2h47urt5

The largest nursing union in the US, National Nurses United (NNU), is sounding the alarm about the use of artificial intelligence (AI) in healthcare. In April, the union’s affiliate California Nurses Association (CNA) protested an AI conference helmed by managed care consortium Kaiser Permanente. Like workers in other sectors who are worried about AI encroachment, the nurses fear that the tech is contributing to the devaluation of their skills amid what they say is already a “chronicunderstaffing crisis, nurses reported in an NNU survey of 2,300 registered nurses and members in early 2024.

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BEWARE FINANCIAL ADVISORS: ChatGPT and A.I. is Coming for Your Job?

Finance Jobs (Financial Analysts, Personal Financial Advisors and Consultants, etc.)

By Staff Reporters

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SPONSOR: http://www.CertifiedMedicalPlanner.org

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Like market research analysts, financial analysts, personal financial advisors, and other jobs in personal finance that require manipulating significant amounts of numerical data can be affected by Artificial Intelligence, Mark Muro, a researcher at The Brookings Institute, said recently.

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

“AI can identify trends in the market, highlight what investments in a portfolio are doing better and worse, communicate all that, and then use various other forms of data by, say, a financial company to forecast a better investment mix.” 

These analysts make a lot of money, he said, but parts of their jobs are auto-matable.

READ HERE: https://tinyurl.com/4zk5ert7

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PREDICTIONS: Health Information Technology [HIT]?

Seven [plus one] predictions for healthcare technology trends?

In the wake of a pandemic, shifting care delivery models, and a surge of clinical content, Wolters Kluwer healthcare experts have identified seven healthcare technology trends going forward.

 1. Building trust in an age of digital information overload
 2. Telemedicine becomes a fixture of the healthcare landscape
 3. Resilience is key to retaining the nursing workforce
 4. Unstructured health data helps researchers build health equity
 5. AI reduces healthcare-associated infections (HAIs)
 6. Quality improvement accelerates evidence to implementation
 7. Virtual simulation and technology transforms nursing education

8. Artificial Intelligence [AI].

Source: Wolters Kluwer

CITE: 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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NVIDIA: Booming Artificial Intelligence & Stock!

SPLITS STOCK 10:1 ANNOUNCED

By Staff Reporters

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Nvidia sales rose 262% as AI keeps booming

The company whose chips are powering the Artificial Intelligence revolution saw an even bigger jump in sales last quarter than analysts had expected: to $26 billion.

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

That’s a good sign for the future of AI and probably for the entire stock market, on which Nvidia has an outsized influence. CEO Jensen Huang declared “the next industrial revolution has begun,” as Nvidia predicted $28 billion in sales this quarter. The company also announced plans to split its stock 10-for-1 next

Stock Splits: https://medicalexecutivepost.com/2023/08/14/stock-splits-a-vital-equity-investing-concept-for-physician-investors/

AI: https://www.sas.com/en_us/insights/analytics/what-is-artificial-intelligence.html

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MICROSOFT: The Artificial Intelligence Revolution

By Staff Reporters

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Microsoft is looking at a broader AI future than just OpenAI

Microsoft has been at the forefront of the AI revolution through its $13 billion stake in the ChatGPT-maker, but recently it showed it’s also making other Artificial Intelligence bets, announcing it will pursue several partnerships and is investing $2.1 billion in French startup Mistral AI. Mistral’s tech will be available to Microsoft Azure users.

And then Microsoft President Brad Smith told Axios that OpenAI CEO Sam Altman is “brilliant”, but …… Read Axios Story.

Perhaps even to counter Mark Zuckerbergs META Platform.

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

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JAMIE DIMON: Speaks on the Economy and Artificial Intelligence

By Staff Reporters

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Jamie Dimon is bearish on a soft landing but bullish on AI

In his annual letter to shareholders, JPMorgan Chase CEO Jamie Dimon just said that the odds interest rates return to the Fed’s target of 2% without triggering a recession are “a lot lower” than the 70%–80% chance that several markets seem to have priced in.

Dimon said JPMorgan is preparing for interest rates to possibly spike to 8% in the coming years, citing geopolitical risks, the green transition, and higher energy costs (but he’s notorious for having cautious outlooks). Artificial intelligence also topped Dimon’s list of pressing issues, and he’s “completely convinced” that AI’s impact will be “extraordinary”—maybe even as revolutionary as the printing press or the steam engine.

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AUGMENTED INTELLIGENCE: In Medicine Today

THE AMA A.U.I. REPORT

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By Staff Reporters

Doctors are excited—yet cautious—about the role augmented intelligence (AUI) could play in the future of healthcare. That’s the takeaway from an American Medical Association (AMA) survey released last month.

About two-thirds (65%) of 1,000+ physicians that the AMA surveyed in August 2023 agreed that there was at least some advantage to using AUI-powered tools, particularly when it comes to diagnostic ability (72%), work efficiency (69%), and clinical outcomes (61%). More than half (56%) of doctors said AUI tools could best help address administrative burdens.

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COMPUTING: Intel, Amazon and Microsoft

By Staff Reporters

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Intel revealed that its semiconductor-making unit lost $7 billion last year. The news sent the company’s stock down.

And, Amazon is laying off hundreds of employees from its cloud computing division, including the team overseeing its cashierless tech (and not just the Just Walk Out feature it’s pulling from stores), as well as people sales and marketing roles.

Finally, Microsoft and Quantinuum said they’ve had a major quantum computing breakthrough.

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DAILY UPDATE: Salesforce Health Care AI and the National Association of Realtors Rebuke

By Staff Reporters

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Salesforce just announced new AI solutions for health-care workers that could help automate some of the manual administrative tasks that are driving physician burnout. READ MORE

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On Friday, National Association of Realtors (NAR) agreed to pay $418 million over the next four years to settle several lawsuits alleging it artificially inflated realtor commissions. Included in the deal is a policy change that will likely obliterate agents’ 5%–6% commissions.

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MEME-COINS: Dogwifhat?

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Rallies from Artificial Intelligence related companies weren’t enough to keep the major indexes from falling yesterday. Meanwhile, bitcoin continued its journey toward the sky, getting close to an all-time record.

And it wasn’t the only cryptocurrency having a banner day: memecoins like dogecoin, pepe, and dogwifhat all soared.

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

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.”

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

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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DAILY UPDATE: Stock Markets Rocket Upward

By Staff Reporters

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SPONSOR: http://www.MarcinkoAssociates.com

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Investors are a day away from an inflation report that may offer some direction in a young year that has seen markets meander, with a brief sell-off and a partial rally back. More action may come as Wall Street banks kick off earnings season on Friday.

Here is where the major benchmarks ended:

  • The S&P 500 index rose 26.95 points (0.6%) to 4,783.45, a two-year closing high; the Dow Jones Industrial Average® (DJI) increased 170.57 points (0.5%) to 37,695.73; the NASDAQ Composite gained 111.94 points (0.8%) to 14,969.65.
  • The 10-year Treasury note yield (TNX) added about 2 basis points to 4.04%.
  • The CBOE® Volatility Index (VIX) fell 0.06 to 12.70.

Among market sectors, the S&P 500 Communication Services Index (SP500#50), which includes “mega-cap” tech companies like Google parent Alphabet (GOOGL) and Facebook parent Meta Platforms (META), gained 1.2% and ended near a two-year high. Consumer discretionary shares were also firm. Energy stocks were one of the weakest performers behind a 1.3% drop in crude oil futures.

Peterson noted strength in tech shares may in part reflect news from this week’s Consumer Electronics Show in Las Vegas, with escalating bullishness surrounding artificial intelligence (AI) driving further gains in Nvidia (NVDA) and other chip companies capable of serving the most advanced forms of AI. Nvidia has jumped more than 10% so far this week and posted a record high for the third straight day.

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

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GEMINI: Google’s Large Language Model Released

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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NVIDIA UPDATE: Smashes Revenue Expectations!

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: ChatGPT Anniversary

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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President Bidens Executive Order on Artificial Intelligence

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

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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MID-YEAR: Stock Market Wrap-Up

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

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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SECRET: Ways A.I. Companies Might Use Your Personal Data

By Bertalan Mesko MD PhD

The Medical Futurist

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Pictures, text prompts, documents and health metrics are just a few examples of data we’re giving away to different AI applications and thus, to different companies/organizations.

What happens to this data? Who owns the various outputs generated by us and/or algorithms? We dig into this topic and were not feeling at ease by the end of the trip.

READ MORE

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PODCAST: Nuance DAX: Conversational Healthcare A.I.

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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

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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HEALTHCARE: Top A.I. Companies to Watch!

By Bertalan Mesko MD PhD

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TOP ARTIFICIAL INTELLIGENCE COMPANIES IN HEALTHCARE TO KEEP AN EYE ON 

More and more companies set the purpose to disrupt healthcare with the help of artificial intelligence. Given how fast these companies come and go, it can prove to be hard to stay up-to-date with the most promising ones.

CITE: https://www.r2library.com/Resource/Title/0826102549

So, I collected the most prominent names currently on the market ranging from start-ups to tech giants to keep an eye on in the future.

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Artificial Intelligence Passes U.S. Medical Licensing Exam

ChatGPT

By Staff Reporters

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Two papers show that large language models, including ChatGPT, can pass the USMLE. The papers highlighted different approaches to using large language models to take the USMLE, which is comprised of three exams: Step 1, Step 2 CK, and Step 3. ChatGPT is an artificial intelligence (AI) search tool that mimics long-form writing based on prompts from human users. It was developed by OpenAI, and became popular after several social media posts showed potential uses for the tool in clinical practice, often with mixed results.

According to Victor Tseng, MD, of Ansible Health in Mountain View, California, and colleagues, the results showed “new and surprising evidence” that this AI tool was up to the challenge. Tseng and team noted that ChatGPT was able to perform at >50% accuracy across all of the exams, and even achieved 60% in most of their analyses. While the USMLE passing threshold does vary between years, the authors said that passing is approximately 60% most years.

Source: Michael DePeau-Wilson, Medpage Today [1/19/23]

RELATED: https://medicalexecutivepost.com/2013/06/21/will-future-doctors-need-a-medical-license/

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ChatGPT: A Microsoft Start-Up Venture!

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?

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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PODCAST: Machine Learning For Population Health

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

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

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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PODCAST: Artificial Intelligence in Health Care Today

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.

ASSESSMENT: Your thoughts are appreciated.

THANK YOU

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Could ARTIFICIAL INTELLIGENCE Help Make Health Care More Fair?

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™

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Update on ARTIFICIAL INTELLIGENCE [A.I.]

Future Fate: YES -or- NO?

[By staff reporters]

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The “Chinee Room” Argument of A.I.

On John Searle and his Paper

By Dr David E. Marcinko MBA

The Chinese room argument holds that a digital computer executing a program cannot be shown to have a “mind”, “understanding” or “consciousness”, regardless of how intelligently or human-like the program may make the computer behave.

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The argument was first presented by philosopher John Searle in his paper, “Minds, Brains, and Programs“, published in Behavioral and Brain Sciences in 1980. It has been widely discussed in the years since. The centerpiece of the argument is a thought experiment known as the Chinese room.
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Conclusion: Your thoughts are appreciated.
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A.I. Adoption and Perceptions in Healthcare

By http://www.MCOL.com

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Assessment: Your thoughts are appreciated.

BUSINESS, FINANCE, INVESTING & INSURANCE TEXTS FOR DOCTORS:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

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Healthcare Executive Attitudes Toward Artificial Intelligence

Opportunities and Obstacles

By http://www.MCOL.com

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Conclusion

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