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7 Ways Artificial Intelligence is Improving Healthcare

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The following content is sponsored by RYAH MedTech
artificial intelligence in healthcare infographic

7 Ways Artificial Intelligence is Improving Healthcare

Emerging technologies have the potential to completely reshape the healthcare industry and the way people manage their health. In fact, tech innovation in healthcare and the use of artificial intelligence (AI) could provide more convenient, personalized care for patients.

It could also create substantially more value for the industry as a whole—up to $410 billion per year by 2025.

This graphic by RYAH MedTech explores the ways that technology, and more specifically AI, is transforming healthcare.

How is Technology Disrupting the Patient Experience?

Tech innovation is emerging across a wide range of medical applications.

Because of this, AI has the potential to impact every step of a patient’s journey—from early detection, to rehabilitation, and even follow-up appointments.

Here’s a look at each step in the patient journey, and how AI is expected to transform it:

1. Prevention

Wearables and apps track vast amounts of personal data, so in the future, AI could use that information to make health recommendations for patients. For example, AI could track the glucose levels of patients with diabetes to provide personalized, real-time health advice.

2. Early Detection

Devices like smartwatches, biosensors, and fitness trackers can monitor things like heart rate and respiratory patterns. Because of this, health apps could notify users of any abnormalities before conditions become critical.

Wearables could also have a huge impact on fall prevention among seniors. AI-enabled accelerometer bracelets and smart belts could detect early warning signs, such as low grip strength, hydration levels, and muscle mass.

3. Doctors Visits

A variety of smart devices have the potential to provide support for healthcare workers. For instance, voice technology could help transcribe clinical data, which would mean less administrative work for healthcare workers, giving them more time to focus on patient care.

Virtual assistants are expected to take off in the next decade. In fact, the healthcare virtual assistant market is projected to reach USD $2.8 billion by 2027, at a CAGR of 27%.

4. Test Results

Traditionally, test results are analyzed manually, but AI has the potential to automate this process through pattern recognition. This would have a significant impact on infection testing.

5. Surgery / Hospital Visits

Research indicates that the use of robotics in surgery can save lives. In fact, one study found that robot assisted kidney surgeries saw a 52% increase in success rate.

Robotics can also support healthcare workers with repetitive tasks, such as restocking supplies, disinfecting patient rooms, and transporting medical equipment, which gives healthcare workers more time with their patients.

6. Rehabilitation

Personalized apps have significant care management potential. On the patient level, AI-enabled apps could be specifically tailored to individuals to track progress or adjust treatment plans based on real-time patient feedback.

On an industry level, data generated from users may have the potential to reduce costs on research and development, and improve the accuracy of clinical trials.

7. Follow-ups and Remote Monitoring

Virtual nurse apps can help patients stay accountable by consistently monitoring their own progress. This empowers patients by putting the control in their own hands.

This shift in power is already happening—for instance, a recent survey by Deloitte found that more than a third of respondents are willing to use at-home diagnostics, and more than half are comfortable telling their doctor when they disagree with them.

It’s All About the Experience

Through the use of wearables, smart devices, and personalized apps, patients are becoming increasingly more connected, and therefore less dependent on traditional healthcare.

However, as virtual care becomes more common, healthcare workers need to maintain a high quality of care. To do this, virtual training for physicians is critical, along with user-friendly platforms and intentionally designed apps to provide a seamless user experience.

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Race to Net Zero: Carbon Neutral Goals by Country

Which countries have made a net zero pledge, and how strong is it? This map breaks down carbon neutral pledges.

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NPUC Net Zero Global Goals shareable

Race to Net Zero: Carbon Neutral Goals by Country

The time to talk about net zero goals is running out, and the time to put them into action is well underway.

At the U.S. Climate Summit in April 2021, U.S. President Biden pressured countries to either speed up carbon neutral pledges, or commit to them in the first place.

It’s a follow-up to the Paris Agreement, which keeps signatories committed to reaching carbon neutrality in emissions in the second half of the 21st century. But 2050–2100 is a wide timeframe, and climate change is becoming both increasingly present and more dire.

So when are countries committed to reaching net zero carbon emissions, and how serious is their pledge? This infographic from the National Public Utility Council highlights the world’s carbon neutral pledges.

The Timeline of Carbon Neutral Targets by Country

The first question is how quickly countries are trying to get to net zero.

137 countries have committed to carbon neutrality, as tracked by the Energy and Climate Intelligence Unit and confirmed by pledges to the Carbon Neutrality Coalition and recent policy statements by governments.

But the earlier the pledge, the better, and most of the commitments are centered around 2050.

CountryTarget Year
BhutanAchieved
SurinameAchieved
Uruguay2030
Finland2035
Austria2040
Iceland2040
Germany2045
Sweden2045
Afghanistan2050
Andorra2050
Angola2050
Antigua and Barbuda2050
Argentina2050
Armenia2050
Bahamas2050
Bangladesh2050
Barbados2050
Belgium2050
Belize2050
Benin2050
Brazil2050
Bulgaria2050
Burkina Faso2050
Burundi2050
Cabo Verde2050
Cambodia2050
Canada2050
Central African Republic2050
Chad2050
Chile2050
Colombia2050
Comoros2050
Cook Islands2050
Costa Rica2050
Croatia2050
Cyprus2050
Czechia2050
Democratic Republic of Congo2050
Denmark2050
Djibouti2050
Dominica2050
Dominican Republic2050
Ecuador2050
Eritrea2050
Estonia2050
Ethiopia2050
European Union2050
Fiji2050
France2050
Gambia2050
Greece2050
Grenada2050
Guinea2050
Guinea-Bissau2050
Guyana2050
Haiti2050
Hungary2050
Ireland2050
Italy2050
Jamaica2050
Japan2050
Kiribati2050
Laos2050
Latvia2050
Lebanon2050
Lesotho2050
Liberia2050
Lithuania2050
Luxembourg2050
Madagascar2050
Malawi2050
Maldives2050
Mali2050
Malta2050
Marshall Islands2050
Mauritania2050
Mauritius2050
Mexico2050
Micronesia2050
Monaco2050
Mozambique2050
Myanmar2050
Namibia2050
Nauru2050
Nepal2050
Netherlands2050
New Zealand2050
Nicaragua2050
Niger2050
Niue2050
Norway2050
Pakistan2050
Palau2050
Panama2050
Papua New Guinea2050
Paraguay2050
Peru2050
Portugal2050
Romania2050
Rwanda2050
Saint Kitts and Nevis2050
Saint Lucia2050
Saint Vincent and the Grenadines2050
Samoa2050
Sao Tome and Principe2050
Senegal2050
Seychelles2050
Sierra Leone2050
Slovakia2050
Slovenia2050
Solomon Islands2050
Somalia2050
South Africa2050
South Korea2050
South Sudan2050
Spain2050
Sudan2050
Switzerland2050
Tanzania2050
Timor-Leste2050
Togo2050
Tonga2050
Trinidad and Tobago2050
Tuvalu2050
U.S.2050
Uganda2050
United Kingdom2050
Uzbekistan2050
Vanuatu2050
Vatican City2050
Yemen2050
Zambia2050
China2060
Kazakhstan2060
Ukraine2060
Australia2050 – 2100
Singapore2050 – 2100

As far as early achievers go, Bhutan and Suriname are the only two countries that have achieved carbon neutrality and are actually carbon negative (removing more carbon than they emit). Uruguay’s 2030 target is the earliest to try and match that feat, followed by Europe’s Finland, Austria, Iceland, Germany, and Sweden, who are all targeting 2045 or earlier.

Over 90%, or 124 of the 137 countries tracked above, set a target of 2050 for reaching carbon neutrality. This is largely due to membership in the Carbon Neutrality Coalition, which asks member states to target 2050 for their goal but leaves commitment up to them.

Only five countries have net zero pledges set for after 2050, including Australia and Singapore, which haven’t set a firm target yet. Targeting 2060, in addition to Ukraine and Kazakhstan, is the world’s largest emitter, China. The country’s recent pledge is significant, since China accounts for an estimated 25% of global emissions.

In fact, according to the Climate Action Tracker, 73% of global emissions are currently covered by net zero targets.

How Seriously Are Countries Committing to Carbon Neutrality?

Setting a goal is perhaps the easiest step towards carbon neutrality. But the real challenge is in solidifying that goal and starting to make progress towards it. That’s why it’s important to consider how deeply committed each country’s carbon neutral pledge truly is.

The most rigid commitments are enshrined in law, followed by official government policy, though the latter can change alongside governments. Likewise, proposed legislation shows forward momentum in making pledges a reality, but proposals can take a long time to become enacted (or get derailed).

As it turns out, the vast majority of carbon neutral targets are only under discussion, with no formal action being taken to act on them.

CountryTarget Status
BhutanAchieved
SurinameAchieved
DenmarkLaw
FranceLaw
HungaryLaw
New ZealandLaw
SwedenLaw
United KingdomLaw
AndorraPolicy Document
AustraliaPolicy Document
AustriaPolicy Document
BrazilPolicy Document
ChinaPolicy Document
Costa RicaPolicy Document
FinlandPolicy Document
GermanyPolicy Document
IcelandPolicy Document
IrelandPolicy Document
JapanPolicy Document
KazakhstanPolicy Document
Marshall IslandsPolicy Document
NorwayPolicy Document
PanamaPolicy Document
ParaguayPolicy Document
PortugalPolicy Document
SloveniaPolicy Document
South AfricaPolicy Document
SwitzerlandPolicy Document
U.S.Policy Document
UkrainePolicy Document
UzbekistanPolicy Document
Vatican CityPolicy Document
CanadaProposed Legislation
ChileProposed Legislation
European UnionProposed Legislation
FijiProposed Legislation
South KoreaProposed Legislation
SpainProposed Legislation
AfghanistanUnder Discussion
AngolaUnder Discussion
Antigua and BarbudaUnder Discussion
ArgentinaUnder Discussion
ArmeniaUnder Discussion
BahamasUnder Discussion
BangladeshUnder Discussion
BarbadosUnder Discussion
BelgiumUnder Discussion
BelizeUnder Discussion
BeninUnder Discussion
BulgariaUnder Discussion
Burkina FasoUnder Discussion
BurundiUnder Discussion
Cabo VerdeUnder Discussion
CambodiaUnder Discussion
Central African RepublicUnder Discussion
ChadUnder Discussion
ColombiaUnder Discussion
ComorosUnder Discussion
Cook IslandsUnder Discussion
CroatiaUnder Discussion
CyprusUnder Discussion
CzechiaUnder Discussion
Democratic Republic of CongoUnder Discussion
DjiboutiUnder Discussion
DominicaUnder Discussion
Dominican RepublicUnder Discussion
EcuadorUnder Discussion
EritreaUnder Discussion
EstoniaUnder Discussion
EthiopiaUnder Discussion
GambiaUnder Discussion
GreeceUnder Discussion
GrenadaUnder Discussion
GuineaUnder Discussion
Guinea-BissauUnder Discussion
GuyanaUnder Discussion
HaitiUnder Discussion
ItalyUnder Discussion
JamaicaUnder Discussion
KiribatiUnder Discussion
LaosUnder Discussion
LatviaUnder Discussion
LebanonUnder Discussion
LesothoUnder Discussion
LiberiaUnder Discussion
LithuaniaUnder Discussion
LuxembourgUnder Discussion
MadagascarUnder Discussion
MalawiUnder Discussion
MaldivesUnder Discussion
MaliUnder Discussion
MaltaUnder Discussion
MauritaniaUnder Discussion
MauritiusUnder Discussion
MexicoUnder Discussion
MicronesiaUnder Discussion
MonacoUnder Discussion
MozambiqueUnder Discussion
MyanmarUnder Discussion
NamibiaUnder Discussion
NauruUnder Discussion
NepalUnder Discussion
NetherlandsUnder Discussion
NicaraguaUnder Discussion
NigerUnder Discussion
NiueUnder Discussion
PakistanUnder Discussion
PalauUnder Discussion
Papua New GuineaUnder Discussion
PeruUnder Discussion
RomaniaUnder Discussion
RwandaUnder Discussion
Saint Kitts and NevisUnder Discussion
Saint LuciaUnder Discussion
Saint Vincent and the GrenadinesUnder Discussion
SamoaUnder Discussion
Sao Tome and PrincipeUnder Discussion
SenegalUnder Discussion
SeychellesUnder Discussion
Sierra LeoneUnder Discussion
SingaporeUnder Discussion
SlovakiaUnder Discussion
Solomon IslandsUnder Discussion
SomaliaUnder Discussion
South SudanUnder Discussion
SudanUnder Discussion
TanzaniaUnder Discussion
Timor-LesteUnder Discussion
TogoUnder Discussion
TongaUnder Discussion
Trinidad and TobagoUnder Discussion
TuvaluUnder Discussion
UgandaUnder Discussion
UruguayUnder Discussion
VanuatuUnder Discussion
YemenUnder Discussion
ZambiaUnder Discussion

Uruguay’s 2030 target might be the earliest, but it is not yet set in stone. The earliest commitment actually enshrined in law is Sweden’s 2045 target.

Including Sweden, only six countries have passed their carbon neutral targets into law. They include Denmark, France, Hungary, New Zealand, and the UK.

An additional five countries have proposed legislation in the works, including Canada and South Korea, as well as the entirety of the EU.

Meanwhile, 24 countries have their climate targets set as official policy. They include Brazil, China, Germany and the U.S., some of the world’s largest emitters.

99 of the 137 pledges are only under discussion at this time, or more than 72%. That means that they have no official standing as of yet, and are harder to act on. But as time starts to pass, pressure on countries to act on their carbon neutral pledges is beginning to grow.

The National Public Utilities Council is the go-to resource for all things decarbonization in the utilities industry. Learn more.

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How Workplace Culture Enables Investment Firms to Do Better

The importance of a positive workplace culture is becoming clearer than ever, but what does this mean for the investment industry?

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Workplace Culture Enables Investment Firms to Do Better

In today’s highly competitive business environment, workplace culture is becoming increasingly recognized as a source of competitive advantage.

What does this mean for the investment industry, and how can asset managers use it to improve performance?

To find out, this infographic from Wells Fargo Asset Management explores the elements of a healthy culture, then shares four insights regarding the workplace of tomorrow.

The Top Cultural Edges to Develop

Workplace culture was gaining traction for several years prior to COVID-19, but after the disruptions experienced in 2020, its perceived importance has quickly escalated.

In light of this situation, the Thinking Ahead Institute, a non-profit dedicated to improving the efficacy of the investment industry, surveyed 27 asset managers on what they believe are the most important cultural edges to develop.

#1: Diversity, Equity & Inclusion (DE&I)

92% of respondents

DE&I was the top cultural priority by a wide margin, and it’s easy to see why given the industry’s well-documented lack of diversity. Boosting DE&I isn’t just about optics, however.

In a 2018 study, the Boston Consulting Group (BCG) surveyed 1,700 companies globally to learn how diversity affected their performance. They found that firms with above-average diversity on their management teams reported average innovation revenue of 45%, while those with below-average diversity reported it to be about 26%.

#2: Innovation

62% of respondents

Asset managers frequently apply innovative techniques within their portfolios. When it comes to business and operating models, however, innovation is much harder to come by.

The Thinking Ahead Institute identifies a number of characteristics that an innovative culture should possess:

CharacteristicDescription
IncentivesThe degree to which innovation is rewarded
Time scalesWhether the long time horizon associated with innovation is recognized and honored
Judgement capacityLeadership is willing to challenge the status quo and make uncomfortable changes
StructureWhether roles and organizational design allow innovation to flourish

#3: Transparency

42% of respondents

In a recent survey of 300 asset owners, trust was identified as the most important factor for choosing an asset manager, even coming ahead of performance and fees.

Factor% of Respondents*
Trust47%
Good investment track record42%
Personalized service39%
Customer service28%
Low or no fees21%
Social responsibility10%

*Question: Why did you originally select your financial advisor?

By fostering a culture of transparency, asset managers will find themselves better positioned to build deeper, more meaningful relationships with clients and prospects.

Four Insights Regarding the Workplace Culture of the Future

Lessons learned during the COVID-19 pandemic are likely to have a lasting impact on the way businesses operate. To get an idea of what this may look like, here are four insights regarding the workplace culture of the future.

#1: Health and wellness determine business success

Disruptions to normal life were a drain on U.S. workers, with 46% reporting mental health issues during the pandemic—an 18% increase over the prior year.

Moving forward, businesses that focus on wellness may find themselves with a more effective and resilient workforce. In one 2017 study, participation in employee wellness programs was found to increase productivity by 5% to 11%.

#2: Remote work continues to play a role

Over the course of the pandemic, businesses have learned that many of their normal operations can be conducted remotely.

To understand this operating model better, McKinsey & Company analyzed each industry’s potential for remote work. This was defined as the % of time spent on activities that can be done remotely, without any losses in productivity.

IndustryEffective Potential (no productivity loss) Theoretical Maximum
Finance & Insurance76%86%
IT and Telecommunications58%69%
Education33%69%
Real estate32%44%
Arts, Entertainment, and Recreation19%32%
Retail 18%28%

The Finance & Insurance industry has the highest potential for remote work, which is understandable given the industry’s large reliance on office jobs. Sectors such as Retail, which rely heavily on in-store workers, were among the least likely to benefit.

#3: Accelerated adoption of digital strategy

Lockdowns during the pandemic appear to have fundamentally changed the way businesses and consumers interact, resulting in a greater reliance on technology.

To compensate, executives from a variety of industries have reported making larger investments in digitization, particularly in terms of automation and employee communications.

#4: ESG investors pay greater attention to culture

As the benefits of culture become more well-known, investors are likely to give it a more significant weighting when analyzing the environmental, social, and governance (ESG) aspects of a business.

In a 2020 survey on responsible investment, 53% of respondents agreed that after the events of COVID-19, companies should disclose more details about their workplace culture and other social factors.

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