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Industry news, interviews, innovation, and resources.

How AI Is Affecting the MedTech Industry & Its 2 Million Jobs

With the MedTech industry accounting for more than 2 million jobs, it is estimated that 50% of organizations in the life sciences space will have adopted AI technology in some form by 2025, and those that do adopt AI stand to increase profits significantly; a projection from McKinsey estimates that the use of AI could generate upwards of $100 billion for the healthcare industry as a whole. The main challenge is knowing how and where to start. While some companies have adopted a wait-and-see approach, such inaction would risk putting companies at a long-term disadvantage.
Written by
Aron Kressner
Published on
Dec 13, 2023
File under
Artificial Intelligence
Hiring
HealthTech
MedTech
Leadership
A recent Gallup article titled “In A Tight Labor Market, Employees Bear The Burden” speaks volumes about the current corporate environment. The data provides specific insight into factors that are often felt but only understood anecdotally. There are simple fixes available to leaders who are willing to acknowledge what their team members are already talking about and struggling to manage on their own: added responsibilities, restructuring, reduced budgets and more.
Aron Kressner
Nov 30, 2023
Extended Reality
In a recent consumer survey, 59 percent of respondents stated that they prefer to conduct at least one daily activity such as socializing, shopping, fitness, or education in the virtual world rather than in person. As shown by this year’s Augmented World Expo turnout, the $35B XR market is on a growth trajectory slated to hit $345 billion by 2030. As consumers become more accustomed to XR (extended reality) and its subsets – AR (augmented reality), MR (mixed reality), and VR (virtual reality), the room for growth among these emerging markets captured the eyes of investors and market prognosticators. In short, we’re at the beginning of a new XR frontier, and it's time to hire XR talent and teams.
Cody Samuels
Nov 21, 2023
ESG
More than 90% of S&P 500 companies and approximately 70% of Russell 1000 companies now publish ESG reports in some form. Organizations have been steadily allocating more of their resources toward improving ESG. The rising profile of ESG has also been plainly evident in investments - inflows into sustainable funds, for example, rose from $5 billion in 2018 to more than $50 billion in 2020—and then to nearly $70 billion in 2021. But the communications results, and the common perception of ESG still have a ways to go. In hiring the next ESG executive, it might be time the world's biggest firms take a cue from today's innovative startups.
Cody Samuels
Nov 12, 2023
Chief of Staff
A Chief of Staff meant to handle important cross-functional projects that a founder just can’t actively manage due to time constraints. Because the Chief of Staff is also there to take ownership of critical projects, they need the ability to ingest the founder’s point of view, run with it, and process ambiguity in real time. Here is an in-depth description of the role, essential skills, and sample interview questions for hiring a Chief of Staff, which is an increasingly essential and in-demand position that comes with a lot of authority and a big salary. Make no mistake about it.
Aron Kressner
Nov 9, 2023
UX Design
According to the AARP, Americans 50 and up contribute $8.3 trillion in economic activity to the US economy each year, with a GDP that's expected to triple by 2050. With longer lifespans, higher incomes, and an ongoing accumulation of wealth, it's time we get to know and understand this market better - here is a new set of UX design principles specific to seniors and older adults that account for the psychological and physiological changes that come with age. We also delve into today's top products among this demo and best practices for conducting further UX testing.
Michael Clingerman
Nov 8, 2023
Digital Product Design
Digital product design approaches are evolving rapidly, building on advances in computing power, analytics, and artificial intelligence. According to a newly released Mckinsey report, companies that flourish at design increase revenues and shareholder returns at twice the rate of their industry counterparts. Yet, 66% of CEOs couldn’t say what their Chief Design Officers actually did, or how that success should be measured. Here is an updated description of the role down to important interview questions for any digital design professionals walking in the door at your company.
Candice Wu
Nov 7, 2023
Web3
More than 50,000 professionals on LinkedIn responded to a 2022 Harvard Business Review poll, close to 70 percent admitted that they do not know what Web3 actually is. Still, Web3 is a rapidly growing ecosystem, and there is high demand for skilled professionals in all of the related fields. Core tool downloads for Ethereum, a smart-contract blockchain, increased by 87 percent in 2022. On-chain stablecoin payment volume grew more than 50 percent last year.
Natali Craig
Oct 31, 2023
Go to Market
The term GTM first appeared in the 90s but it's gained much more favor of late. In part because GTM campaigns deliver very clear messaging in the form of value propositions to the end user, and net-new value for the enterprise. Microsoft, Stripe, Canva, and Notion - among many others - are increasingly using a GTM campaign strategy to launch new products. Apple has used them to highlight new features with the "Shot on iPhone" campaign. The C-suite further appreciates our ability to close the "marketing proof gap," and for good reason.
Aron Kressner
Dec 8, 2023
UX Design
Last fall I presented my father with a birthday gift: a pair of Apple AirTags. As I eagerly awaited the opening of his gift, I started thinking that I'm not even an Apple mobile device user myself (though I love their computers) I've always used Android phones. The excitement on his face when he saw the gift – presented in true Apple fashion – was exactly what I expected. What came next was not. As technology evolves, so do the opportunities to make it more accessible.
Michael Clingerman
Nov 8, 2023
Go to Market
Market trends have shown that most tech companies — new and old — are lagging when it comes to GTM. In a recent Mckinsey report analyzing the consulting firm generated what it believes to be the top priority for emerging transformations in the market, emphasizing tech companies’ need to “rebuild their GTM models from the ground up.” The report highlights 4 key drivers of a reimagined GTM function that apply well beyond the tech sector and provide a hiring framework for improving the go to market function of any company or startup.
Aron Kressner
Oct 29, 2023
Project Management
PMs are not thrown by the supposed challenges associated with leading remote teams. In spite of the headlines, as evidenced in a recent McKinsey study, nearly 90% of employers have retained some form of a hybrid model. New practices like on-demand hiring and asynchronous communication lead the way for modern work environments.
Lana Steiner
Oct 23, 2023
Leadership
The enterprise AI hiring spree started years ago. The creation and development of AI systems require machine learning engineers, data scientists, and specialized researchers. At the executive level, these positions will require verbally adroit and highly skilled executives who can sell an AI vision to a board of directors, carving out a new, upwardly mobile career path specific to the needs of AI as its usage becomes even more commonplace and essential to a company’s growth.
Candice Wu
Oct 14, 2023
Artificial Intelligence
According to a recent study by McKinsey & Company, the number of AI executives at Fortune 500 companies has increased by 75% in the past two years. The CAIO role is needed to ensure that AI is integrated seamlessly into existing workflows, to make informed decisions regarding AI investments and partnerships, clarifying long-term AI strategies, and addressing ethical concerns around data privacy and bias.
Aron Kressner
Nov 16, 2023
product management
Demand for product manager jobs in the US increased 32% in the past five years and the median salary has climbed to an average $150,000 - in order to land one of these coveted positions and galvanize a healthy team, let’s dive deep into the current state of hiring for both employers and prospective employees searching for the right product manager position. 
Demi WIlkinson
Oct 5, 2023
Leadership
The employment rate for web developers and digital designers — which includes UX designers — is expected to grow 23% from 2021-2031. Topflight candidates will not suffer through a disjointed hiring process, so employers must button it up and communicate effectively to set expectations and land the best candidates.
Aron Kressner
Oct 5, 2023