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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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Filed under: Alternative Investments, Ethics, Financial Planning, Funding Basics, Glossary Terms, Health Economics, Health Insurance, Health Law & Policy, Information Technology, Investing, Touring with Marcinko | Tagged: AI, AI companies, BAC, banks, BKX, c, ChatGPT, COMP, CVS Health, DJIA, energy, FOMC, gold, google, GS, Healthcare AI, Human Medicare Advantage, Humana, inflation, Marcinko, markets, Medicare C, Medicare Part C, metals, MSFT, NASDAQ, nH Predict, oil, Open AI, Part C, real-estate, Russell Index 2000, RUT, S&P 500, stock markets, TNX, utilities, VIX | Leave a comment »
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