The sick care world is changing quickly. So is how people work and and how the work gets done during the 4th industrial revolution.
Artificial intelligence (AI) isn’t taking everyone’s jobs, but it is displacing some people.
In a January 2018 Infosys survey of executives and IT decision-makers worldwide, roughly two out of five respondents said their company eliminated jobs that became redundant after adopting AI. And roughly 70% of respondents reported that employees at their companies are concerned that they’ll be replaced by AI.
The next time your son or daughter gets cornered at a cocktail party, they are likely to be told by Mr. McQuire one word-but it won't be what you think.
No, instead they are likely to whisper:
AI companies are in a recruiting frenzy—employees with top knowledge on the subject are so hard to come by that salaries can rival those of professional athletes. At the Neural Information Processing Systems (NIPS) conference in December, companies held parties and gave away mountains of free swag to attract talent. There probably isn’t a more sought-after skill set in the world of technology—a distinction that’s likely to hold for the foreseeable future.
Economists have typically lumped experiences in with services, but experiences are a distinct economic offering, as different from services as services are from goods. Today we can identify and describe this fourth economic offering because consumers unquestionably desire experiences, and more and more businesses are responding by explicitly designing and promoting them. As services, like goods before them, increasingly become commoditized—think of long-distance telephone services sold solely on price—experiences have emerged as the next step in what we call the progression of economic value. (See the exhibit “The Progression of Economic Value.”) From now on, leading-edge companies—whether they sell to consumers or businesses—will find that the next competitive battleground lies in staging experiences
In his 1942 book, Capitalism, Socialism and Democracy, economist Joseph Schumpeter introduced the notion of an innovation economy. He argued that evolving institutions, entrepreneurs, and technological changes were at the heart of economic growth. But it is only in recent years that “innovation economy,” grounded in Schumpeter’s ideas, has become a mainstream concept. The three pillars are emotional intelligence, leading high performance cross cultural teams, and creating new entities that are repeatable and scaleable.
A team from Deloitte Consulting LLP won a blockchain ideation challenge sponsored by the Department of Health and Human Services Office of the National Coordinator for Health Information Technology (ONC). Deloitte’s winning white paper, describes opportunities for applying blockchain technologyto health care to make health information exchanges (HIE) more secure, efficient, and interoperable. The paper was selected from over 70 submissions from a wide range of individuals, organizations, and companies addressing ways that blockchain technology might be used in health and health IT to protect, manage, and exchange electronic health information.
John Naisbitt pointed out many years ago, the US economy consists of two basic segments-high tech products and services and high touch products and services. The growth of one creates opportunities for the other, particularly when it comes to taking care of patients.
Creating the high touch medical workforce of the future should be about:
We will particularly need those who touch older people. The aging of the U.S. population will bring increasing demand for home health and personal care aides. The Bureau of Labor Statistics estimates that these occupations will grow by 426,000 and 754,000 workers in the next 10 years. Despite the need for people to fill these jobs, many of them do not pay well. That’s something that could soon change, though, as demand continues to rise.
Arlen Meyers, MD, MBA is the President and CEO of the Society of Physician Entrepreneurs
Arlen Meyers, MD, MBA is a professor emeritus of otolaryngology, dentistry, and engineering at the University of Colorado School of Medicine and the Colorado School of Public Health and President and CEO of the Society of Physician Entrepreneurs at www.sopenet.org. He has created several medical device and digital health companies. His primary research centers around biomedical and health innovation and entrepreneurship and life science technology commercialization. He consults for and speaks to companies, governments, colleges and universities around the world who need his expertise and contacts in the areas of bio entrepreneurship, bioscience, healthcare, healthcare IT, medical tourism -- nationally and internationally, new product development, product design, and financing new ventures. He is a former Harvard-Macy fellow and In 2010, he completed a Fulbright at Kings Business, the commercialization office of technology transfer at Kings College in London. He recently published "Building the Case for Biotechnology." "Optical Detection of Cancer", and " The Life Science Innovation Roadmap". He is also an associate editor of the Journal of Commercial Biotechnology and Technology Transfer and Entrepreneurship and Editor-in-Chief of Medscape. In addition, He is a faculty member at the University of Colorado Denver Graduate School where he teaches Biomedical Entrepreneurship and is an iCorps participant, trainer and industry mentor. He is the Chief Medical Officer at www.bridgehealth.com and www.cliexa.com and Chairman of the Board at GlobalMindED at www.globalminded.org, a non-profit at risk student success network. He is honored to be named by Modern Healthcare as one of the 50 Most Influential Physician Executives of 2011 and nominated in 2012 and Best Doctors 2013.