| Hello, readers—and a happy first day of spring! This is Sy. I hope you’ve been following along with our 3rd annual Fortune Brainstorm Health conference in California. (You can catch the livestream of events here and read up on the latest updates here .) The meeting has already featured a fascinating mix of conversations about the role of data, AI, and new technologies in transforming health care (and the obstacles holding back that transformation). Here’s one slice of the kinds of discussions we’ve been having. On Tuesday, Kristen Hamilton, the co-founder and CEO of Koru, Inc, (an AI-fueled staffing company) spoke on the potential for predictive analytics to change the way that firms, including hospitals, hire their employees. Reducing employee turnover at an organization by just 20-30% could save the average hospital $2 million, according to Hamilton. “What's happening in the world of hiring is similar to what happened in marketing, when we moved from the Mad Men era to math,” she said. Koru’s platform incorporates hundreds of data points from existing employees (such as cognitive abilities, technical skills, and “soft” skills) and compares the metrics from long-lasting, high performers versus workers who didn’t quite make the cut or left the organization. The process, as with so many things AI, may make some uncomfortable. According to Hamilton, though, such predictive analytics in hiring (and especially in medicine, where there’s an urgent need for qualified medical staff) has proven lucrative in these early days: She cites organizations that cut their turnover rates from 50% to 13% within three months with the help of this kind of technology. This is far from the only conversation about the role of AI in health care and business featured at Fortune Brainstorm Health. Once again, you can follow along with all of the discussions and debates here. Read on for the day’s news. |
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