WEBVTT

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Hello, good afternoon and good day.

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My name is Jay Bot and I'm a Managing
Director with Deloitte,

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the Executive Director of Deloitte US
Center for Health Solutions.

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I'm thrilled today to have an opportunity
to be with a terrific global panel and

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hope to take you on a virtual trip around
the globe to hear what some of the key

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insights in our life sciences healthcare
industry are Really going to be an

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exciting conversation across life
sciences, healthcare payer, provider,

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biopharma,
medtech and the intersections across

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those sectors as well as with things in
digital health,

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consumer health technology.

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So look forward to having the
conversation and many of you have likely

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participated in a virtual meeting and we
welcome to use you to use the chat

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function during the session,
add your comments, your questions,

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and if you have specific questions for
any of our speakers,

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please submit them through the Zoom Q&
A function.

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We may not be able to get to all of them
in the short time we have together,

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but we'll tackle as many as we can.

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And I invite our speakers to answer some
directly if they're specific to the

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threat of conversation we're having.

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Deloitte has recently launched the 2026
Global Healthcare and Life Sciences

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outlooks.

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These are available to you online and
will, over the course of our presentation,

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drop the links in the chat as well and
now quickly present our distinguished

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panelists.

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Welcome, everyone,
and thank you for joining us on such an

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important topic.

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I'd like to introduce Sarah Siegel,
leader in Deloitte Global Health and

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Human Services sector, Michelle Thoreau,
National Health leader for Deloitte

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Canada, and Arsalan Andreas,
leader in life Sciences and Aging well

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for Deloitte Canada.

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Just welcome to this conversation.

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Look forward to hearing from you and
being in discussion.

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And with that,
I'll turn it over to my colleague Sarah

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to take us through our Global Healthcare
outlook report,

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the findings and insights from that.

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Thank you so much.

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Appreciate it.

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Hello, everyone.

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It's great to be here today.

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Every year,
we do a global survey of healthcare

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leaders around the world.

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We try to cover a mix of health systems,
academic medical centers,

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independent hospitals.

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We get very senior leaders and we cover a
number of our key markets,

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including the US, the UK, Australia,
Germany, Netherlands and Canada.

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Next slide, please.

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Thank you.

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Every year we try to pull out some of the
key themes that we get from our health

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leaders from around the world.

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This year it was great to see,
especially from our non-us respondents,

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a real level of optimism.

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More than 80% of executives surveyed
reported a positive or cautiously

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positive outlook for their own
organizations,

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which is really great to see.

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At the US level,
it was more cautiously positive,

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and this is attributed to some
uncertainty around behavior at regulatory

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and national level.

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We've pulled out a bunch of key themes
and we'll show you a few more stats.

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But unsurprisingly,
I'm sure to all of you on the call,

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we're seeing themes around financial
pressures, workforce issues, productivity,

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staff morale, and interesting this year,
some more commentary and some higher

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scores around cybersecurity risks.

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Unsurprisingly,
over half of executives mentions

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technology as an opportunity to drive
both cost savings and revenue growth.

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A couple of the key areas that were
highlighted were topics around

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standardizing and improving workflows and
process automation through AI.

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And I'll come back to talking a little
bit more AI, of course, in just a minute.

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Interestingly,
really high scores for workforce

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optimization using predictive analytics.

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I think a lot of frustration when
processes don't work and we can't help

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fix things that we should be able to fix
in advance,

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either with scheduling or with actual
predictive care.

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And finally,
a high score higher than in previous

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years for tech enabled patient engagement
and monitoring.

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And I think this is super interesting,
especially for geographies like Canada

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where we have such big,
big geographies to cover and patients

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which who can't always make it in person
to see a physician,

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a nurse or another medical professional.

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There's a lot in the answers that we got
in the questions we asked about

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technology.

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And I would encourage all of our
listeners and viewers to have a look at

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the full report online.

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There's a lot of really interesting
findings.

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But when we talk about what are the
leading tech investment areas for global

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health systems in 2026?

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And we were asking kind of where are you
going to put your tech budget spread

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betting,
But a lot of really interesting responses.

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Data modernization is a super interesting
one because obviously when we talk about

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putting AI on top of our healthcare data,
we know that we need to get our data

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house in order first.

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And that's about data standardization.

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It's also about linking data sets to make
sure that, you know,

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AI is reading things that make sense and
create a holistic picture.

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Cybersecurity tools was a really big one
and there's a lot of really interesting

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stats around the scale of cybersecurity
risk and also the regulatory requirements

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that are up and coming in many countries
for healthcare providers to have tighter

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cybersecurity standards.

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AI and Gen.

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AI obviously in there,
another bucket of spend.

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I would say we're seeing large scale
activity,

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but maybe not large scale implementation
of AI tools yet.

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Definitely a lot of work.

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Thinking about front,
back and middle office, clinical facing,

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radiology, imaging,
a little bit into diagnostic and triage,

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always with the human in the loop.

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Definitely evolving from last year,
but still not taking over huge swaths of

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the clinical workflow.

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And then digital health tech and consumer
engagement platforms.

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I think as AI tools are up and coming,
both for consumers and for medical

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profession professionals,
the role of the health consumer becomes

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more and more important.

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And it's incumbent upon providers to make
data available to patients,

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slash health consumers,
slash citizens so that they can be the

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architects of their own healthcare
journey.

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And this topic is coming up more and more.

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And of course, core business,
core business technologies,

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we're still in a phase where core tech is
being implemented into clinical workflow,

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It's being migrated to cloud,
it's being upgraded.

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So that is still ongoing and that's going
to be a multi year process.

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And then finally,
just a few thoughts on AI and I'm sure

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we'll cover this more.

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And I know that Jay will probably cover
this when he talks about the life

a3d1f1cf-bd2f-450e-b639-71a5c37ceefa-1
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sciences outlook in just a minute.

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So we asked, you know,
where do you think AI is going to add

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value in 2026?

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And these are not surprising answers,
but I always think it's interesting to

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see.

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So kind of top of the pile is on
operational efficiencies.

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And remember you know from the countries
that we surveyed,

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we have some countries that are sort of
revenue maximizing and some countries

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that are managing costs.

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But for everybody cost is important
because we've seen costs really spike

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around the world in the last few years.

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So that's going to be something that
everybody has on their mind.

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And then as I mentioned on the previous
slide,

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a lot of providers looking at admin tasks
to help clinical workflow,

529ed60a-9baf-491e-a779-6ba1bb9844cc-2
00:07:43.202 --> 00:07:47.693
a lot of talk about AVT or ambient voice
technology, ambient scribes,

529ed60a-9baf-491e-a779-6ba1bb9844cc-3
00:07:47.693 --> 00:07:50.837
dozens and dozens of tech options in the
market,

529ed60a-9baf-491e-a779-6ba1bb9844cc-4
00:07:50.837 --> 00:07:54.880
both from big software providers and from
small tech startups.

6dbcee10-604d-4517-9555-fde9f7dceb33-0
00:07:55.480 --> 00:07:58.900
Interestingly,
more and more on clinician decision

6dbcee10-604d-4517-9555-fde9f7dceb33-1
00:07:58.900 --> 00:08:02.320
support through AI diagnosis and
treatment guided.

ff64bc2e-611f-4fa8-9593-da5cd1db0f57-0
00:08:02.320 --> 00:08:06.920
So obviously clinicians still in charge
getting tips and tricks from AI tools.

5659dec8-9347-4464-a68b-a24a889334d1-0
00:08:06.920 --> 00:08:10.457
I think this is super interesting,
and I think this helps to bring the sort

5659dec8-9347-4464-a68b-a24a889334d1-1
00:08:10.457 --> 00:08:13.901
of equalizing factor of all of the
world's knowledge to the fingertips of

5659dec8-9347-4464-a68b-a24a889334d1-2
00:08:13.901 --> 00:08:14.599
our clinicians.

c9da144c-f344-4ba8-af20-8dcac3a11a3e-0
00:08:14.600 --> 00:08:15.840
I think it's really exciting.

cc15cf9d-6b52-4e6c-85b1-f30b2a6b1b57-0
00:08:16.280 --> 00:08:20.000
And then back to what I mentioned on the
previous slide, patient experience.

a2f618ab-452f-4965-950b-3515fd84e7c4-0
00:08:20.240 --> 00:08:24.563
So how can we help the patients become
the sort of moderators of their own care,

a2f618ab-452f-4965-950b-3515fd84e7c4-1
00:08:24.563 --> 00:08:27.018
virtual assistants,
call center interactions,

a2f618ab-452f-4965-950b-3515fd84e7c4-2
00:08:27.018 --> 00:08:30.380
personalized patient journeys,
ways for them to look back into

a2f618ab-452f-4965-950b-3515fd84e7c4-3
00:08:30.380 --> 00:08:32.942
conversations,
back into their medical records,

a2f618ab-452f-4965-950b-3515fd84e7c4-4
00:08:32.942 --> 00:08:37.372
understand better what may have been an 8
or 10 minute visit with a clinician in a

a2f618ab-452f-4965-950b-3515fd84e7c4-5
00:08:37.372 --> 00:08:38.760
high pressure environment.

667360a8-40b0-453a-8495-e0afa3c511f5-0
00:08:39.120 --> 00:08:42.617
So nothing surprising here,
but just interesting to see how they are

667360a8-40b0-453a-8495-e0afa3c511f5-1
00:08:42.617 --> 00:08:44.240
sort of ordered and prioritized.

6bcf881a-c4ab-48a6-9d28-fde57e6d8a8a-0
00:08:44.600 --> 00:08:47.360
So that is literally a whistle stop tour
through.

6b638284-c93e-466b-a833-4dbe34eb9fa0-0
00:08:47.360 --> 00:08:49.600
It was a very rich global survey.

e403736e-f2d1-4820-a617-4a470a2899f9-0
00:08:49.960 --> 00:08:53.543
And I want to save some time for Jay to
talk about what we found on the life

e403736e-f2d1-4820-a617-4a470a2899f9-1
00:08:53.543 --> 00:08:54.800
sciences side of the house.

6a7e7699-01b4-4398-b979-e70fddb82f48-0
00:08:55.280 --> 00:08:55.440
Jay.

a7d1be48-59c3-49c0-85b0-985ae9fb312b-0
00:08:56.280 --> 00:08:56.760
Perfect.

7129cf1e-aa77-44e1-ac86-86c05d355051-0
00:08:56.760 --> 00:08:57.760
Thanks so much, Sarah.

3cf94382-f6a7-4b8a-a5b7-fc35d8b51bc5-0
00:08:57.760 --> 00:09:02.459
And really Sarah said it well,
as this is just really an introduction to

3cf94382-f6a7-4b8a-a5b7-fc35d8b51bc5-1
00:09:02.459 --> 00:09:06.000
the kinds of insights and perspectives
that are in it.

b2ae7af0-7571-4ded-9254-f773269d8197-0
00:09:06.000 --> 00:09:10.374
So I encourage you to look at the report
and we'll drop the link here as we when

b2ae7af0-7571-4ded-9254-f773269d8197-1
00:09:10.374 --> 00:09:14.262
we get to our discussion with our salon
and Michelle, which we'll find,

b2ae7af0-7571-4ded-9254-f773269d8197-2
00:09:14.262 --> 00:09:16.800
we'll build upon the comments that Sarah
made.

f8248f3c-5bb0-4d3b-83d1-a4027b0412f4-0
00:09:16.800 --> 00:09:20.717
And what's so interesting in this time
and this moment,

f8248f3c-5bb0-4d3b-83d1-a4027b0412f4-1
00:09:20.717 --> 00:09:26.033
it's in I think in an interesting place
because global life sciences has an

f8248f3c-5bb0-4d3b-83d1-a4027b0412f4-2
00:09:26.033 --> 00:09:30.160
increasingly important impact on the
healthcare landscape.

00f1f09f-27b9-44bb-b414-9773a4d5caab-0
00:09:30.320 --> 00:09:35.024
And when you think about the
relationships and interactions between

00f1f09f-27b9-44bb-b414-9773a4d5caab-1
00:09:35.024 --> 00:09:40.697
various sectors across the industry and
we conducted our 4th annual Life Sciences

00f1f09f-27b9-44bb-b414-9773a4d5caab-2
00:09:40.697 --> 00:09:43.880
Outlook survey from August to September
2025.

320fffdd-f8ac-4066-9ffd-e5643b8700fd-0
00:09:43.880 --> 00:09:48.576
And survey include 280 C-Suite execs from
biopharma and medtech companies across

320fffdd-f8ac-4066-9ffd-e5643b8700fd-1
00:09:48.576 --> 00:09:51.360
the US,
Europe and the United Kingdom and Asia.

8874c0a3-6492-4b8a-bd4d-dfdbfd93b116-0
00:09:51.640 --> 00:09:55.012
And insights from the survey were further
enriched by in depth interviews with

8874c0a3-6492-4b8a-bd4d-dfdbfd93b116-1
00:09:55.012 --> 00:09:56.080
several industry leaders.

97d9507d-023c-44e2-a6da-4ae301234bff-0
00:09:56.440 --> 00:10:02.201
And So what you see here is that the life
sciences industry enters 2026 faced with

97d9507d-023c-44e2-a6da-4ae301234bff-1
00:10:02.201 --> 00:10:08.032
external anxieties and internal optimism,
and of this idea that there's uncertainty

97d9507d-023c-44e2-a6da-4ae301234bff-2
00:10:08.032 --> 00:10:11.434
to navigate,
but there is a real opportunity for

97d9507d-023c-44e2-a6da-4ae301234bff-3
00:10:11.434 --> 00:10:11.920
growth.

30aed5a3-dff0-4f7b-b258-3cd24a2f67e8-0
00:10:12.360 --> 00:10:16.105
And the the data suggests that confidence
is uneven,

30aed5a3-dff0-4f7b-b258-3cd24a2f67e8-1
00:10:16.105 --> 00:10:21.688
external pressures can reshape strategy,
and digital acceleration outpaces org

30aed5a3-dff0-4f7b-b258-3cd24a2f67e8-2
00:10:21.688 --> 00:10:22.960
readiness in 2026.

2ea7bcfa-3a0b-4866-9778-84bc4f6f28e7-0
00:10:23.240 --> 00:10:27.317
And why that matters is that the year
ahead may reward organizations that

2ea7bcfa-3a0b-4866-9778-84bc4f6f28e7-1
00:10:27.317 --> 00:10:30.018
harmonize global momentum with local
resilience,

2ea7bcfa-3a0b-4866-9778-84bc4f6f28e7-2
00:10:30.018 --> 00:10:33.875
balancing bold investments in AI
technology with pragmatic ability to

2ea7bcfa-3a0b-4866-9778-84bc4f6f28e7-3
00:10:33.875 --> 00:10:36.079
adapt to regulatory and economic change.

8a23217e-2677-464a-8591-5cf776717300-0
00:10:36.520 --> 00:10:44.022
And you see that you know in confidence
that there is also some differences when

8a23217e-2677-464a-8591-5cf776717300-1
00:10:44.022 --> 00:10:51.339
you look at the impact of the US versus
other countries and that there is some

8a23217e-2677-464a-8591-5cf776717300-2
00:10:51.339 --> 00:10:55.600
regionalization in terms of the
perspectives.

08c41bb8-1697-420b-8bbe-8c4e53493984-0
00:10:55.600 --> 00:11:07.880
But that overall there is in both US and
non-us countries growth as being core.

0e8bf7ee-3f1b-43e1-ab1e-faf9f2b3cfd4-0
00:11:09.440 --> 00:11:13.241
71% of US biopharma response antipistic
revenue gains,

0e8bf7ee-3f1b-43e1-ab1e-faf9f2b3cfd4-1
00:11:13.241 --> 00:11:18.770
83% of biopharma leaders in Europe and
Asian countries predict steady or strong

0e8bf7ee-3f1b-43e1-ab1e-faf9f2b3cfd4-2
00:11:18.770 --> 00:11:20.360
revenue growth in 2026.

dcf82905-5575-45df-8b58-86c4c290090c-0
00:11:21.080 --> 00:11:28.488
And there is also that same sentiment in
Med tech and we'll talk more about AI and

dcf82905-5575-45df-8b58-86c4c290090c-1
00:11:28.488 --> 00:11:30.720
digital here as we go on.

f3e55c7c-f4eb-4cbf-b134-8e6f50f0a4a1-0
00:11:30.720 --> 00:11:31.960
So next slide please.

2a201e3a-f152-480c-85d0-be0074d6d4e2-0
00:11:34.280 --> 00:11:37.107
Looking at the trend shaping strategy in
2026,

2a201e3a-f152-480c-85d0-be0074d6d4e2-1
00:11:37.107 --> 00:11:41.378
life sciences leaders cited several
themes that likely influence their

2a201e3a-f152-480c-85d0-be0074d6d4e2-2
00:11:41.378 --> 00:11:41.920
approach.

12f2a99b-95fb-483f-a1f6-9057bd9fc244-0
00:11:42.480 --> 00:11:44.615
One,
growing regulatory and policy influence

12f2a99b-95fb-483f-a1f6-9057bd9fc244-1
00:11:44.615 --> 00:11:48.412
regulation was the most frequently cited
trend expected to shape organizational

12f2a99b-95fb-483f-a1f6-9057bd9fc244-2
00:11:48.412 --> 00:11:48.840
strategy.

e8f0f005-67b8-4866-b853-ba86526138a2-0
00:11:49.120 --> 00:11:53.079
Half of non-us respondents,
51% point in the national regulatory

e8f0f005-67b8-4866-b853-ba86526138a2-1
00:11:53.079 --> 00:11:57.160
changes could affect market access,
pricing, reimbursement models.

b19469e8-5617-4326-a97a-661cc6d16eb5-0
00:11:57.800 --> 00:12:03.892
And this also leads into then how they
might think about their approaches to

b19469e8-5617-4326-a97a-661cc6d16eb5-1
00:12:03.892 --> 00:12:08.640
pipeline and innovation and R&
D and commercialization.

26f00b78-9991-4cdb-8b81-11151144050e-0
00:12:09.200 --> 00:12:12.200
And we look at acceleration of digital
transformation AI.

d23a555b-71ea-4916-977a-af945dbdc79e-0
00:12:12.520 --> 00:12:16.977
Nearly half of respondents identified
accelerated digital transformation as a

d23a555b-71ea-4916-977a-af945dbdc79e-1
00:12:16.977 --> 00:12:17.320
trend.

d9f67f7a-97b3-4e10-bfee-516609a6570c-0
00:12:17.320 --> 00:12:20.853
It's like they have a substantial impact
on their organizations,

d9f67f7a-97b3-4e10-bfee-516609a6570c-1
00:12:20.853 --> 00:12:25.093
A statistically significant increase
compared with 2025 and the proliferation

d9f67f7a-97b3-4e10-bfee-516609a6570c-2
00:12:25.093 --> 00:12:29.496
of generative AI as an influential trend
highlights how analytics and automation

d9f67f7a-97b3-4e10-bfee-516609a6570c-3
00:12:29.496 --> 00:12:32.105
are increasingly shaping research,
development,

d9f67f7a-97b3-4e10-bfee-516609a6570c-4
00:12:32.105 --> 00:12:34.280
manufacturing and commercial operations.

b261165b-e7fa-4679-af7e-565a7bf3ee88-0
00:12:34.800 --> 00:12:37.329
In addition,
what's come out in the data in the

b261165b-e7fa-4679-af7e-565a7bf3ee88-1
00:12:37.329 --> 00:12:41.282
interviews is that cybersecurity concerns
are also on the rise with 35% of

b261165b-e7fa-4679-af7e-565a7bf3ee88-2
00:12:41.282 --> 00:12:43.760
respondents saying will affect their
strategy.

4422b17d-3791-42af-bd05-92bfd410e676-0
00:12:44.560 --> 00:12:49.160
We look at the the trend of persistent
pricing excess and portfolio pressures.

e7c94df0-7917-496e-929f-2515b08a9c49-0
00:12:49.720 --> 00:12:53.560
These are major strategic considerations
for nearly half of respondents.

b2f80712-42b0-4cb7-b56f-ef687ea3c793-0
00:12:53.800 --> 00:12:57.540
Executives are also tracking increased
competitive pressure from generics and

b2f80712-42b0-4cb7-b56f-ef687ea3c793-1
00:12:57.540 --> 00:13:00.129
biosimilars,
as well as the expiration of blockbuster

b2f80712-42b0-4cb7-b56f-ef687ea3c793-2
00:13:00.129 --> 00:13:01.760
drugs and impending patent cliffs.

ef3b73ac-3b39-4c3b-ac17-855cfaf0dc6f-0
00:13:03.000 --> 00:13:05.720
There's also heightened geopolitical and
economic concern.

1f2df9c1-9d6d-4951-aafc-9c363ba0b049-0
00:13:06.160 --> 00:13:10.045
39% of respondents named geopolitical
tensions as a top issue,

1f2df9c1-9d6d-4951-aafc-9c363ba0b049-1
00:13:10.045 --> 00:13:12.944
a jump of 20 percentage points from last
year,

1f2df9c1-9d6d-4951-aafc-9c363ba0b049-2
00:13:12.944 --> 00:13:15.720
our largest increase among the track
trends.

66aacdfa-350c-4955-893c-827ad737d3b7-0
00:13:16.400 --> 00:13:19.744
And nearly the same share of respondents
identified inflation,

66aacdfa-350c-4955-893c-827ad737d3b7-1
00:13:19.744 --> 00:13:23.831
broader economic pressures and supply
chain risks as factors likely to shape

66aacdfa-350c-4955-893c-827ad737d3b7-2
00:13:23.831 --> 00:13:24.840
strategies in 2026.

cc54ab44-fda0-409f-ae09-3eee69d4eb58-0
00:13:25.920 --> 00:13:29.320
Evolving customer models and needs was is
also important.

7ca8b52f-79c7-425e-9f17-e418014a80c6-0
00:13:29.320 --> 00:13:35.016
So given some of the changes in
regulatory economics, the portfolio,

7ca8b52f-79c7-425e-9f17-e418014a80c6-1
00:13:35.016 --> 00:13:41.868
there is also an important consideration
around how do you do business differently

7ca8b52f-79c7-425e-9f17-e418014a80c6-2
00:13:41.868 --> 00:13:43.520
in this environment?

c24f0969-4671-49d5-8022-d41c570e0cc4-0
00:13:43.720 --> 00:13:44.960
Where do you do business differently?

84d119dd-68c6-4dd3-a3d6-e2ab81a5f7d7-0
00:13:44.960 --> 00:13:46.400
Where do you make pragmatic bets?

f4302146-c0dd-4e26-97ea-4c7f2178b240-0
00:13:46.680 --> 00:13:51.315
1/3 of respondents said the connected
care delivery is a top trend for 2026,

f4302146-c0dd-4e26-97ea-4c7f2178b240-1
00:13:51.315 --> 00:13:52.640
a rise over last year.

d4b651fb-4d34-4071-8f95-73afa0e672eb-0
00:13:53.000 --> 00:13:56.492
Customer adoption of digital tools are
said by 35% of executives,

d4b651fb-4d34-4071-8f95-73afa0e672eb-1
00:13:56.492 --> 00:13:59.880
while evolving customer needs and
preferences were said by 32%.

55c43220-7797-4fd5-af59-9c35ee89de30-0
00:14:00.160 --> 00:14:03.720
And Deloitte has talked about this notion
that consumers rising.

0992a5c0-a9f5-483d-ba23-fc23950b856c-0
00:14:03.720 --> 00:14:07.512
As the CEO,
the consumers are shifting the

0992a5c0-a9f5-483d-ba23-fc23950b856c-1
00:14:07.512 --> 00:14:14.039
expectations of of the industry and
challenging and engaging in different

0992a5c0-a9f5-483d-ba23-fc23950b856c-2
00:14:14.039 --> 00:14:14.480
ways.

be435658-6a6b-4019-aa0c-89f79958569c-0
00:14:14.680 --> 00:14:15.600
Next slide please.

a7e7ba2c-a112-450c-9e2e-bab72a06e8c0-0
00:14:17.680 --> 00:14:22.880
So when we look at give,
we'll go to the one more slide.

72e3b9ba-09da-4702-9e6f-c38857d0e742-0
00:14:24.120 --> 00:14:27.463
Given what we see in terms of growth
strategies,

72e3b9ba-09da-4702-9e6f-c38857d0e742-1
00:14:27.463 --> 00:14:33.127
what did executives say our approaches to
managing uncertainty and driving growth,

72e3b9ba-09da-4702-9e6f-c38857d0e742-2
00:14:33.127 --> 00:14:36.880
there were three particular perspectives
that emerged.

fd2b2c5a-3811-4e92-9799-5532273f046d-0
00:14:36.880 --> 00:14:41.183
One, run innovation,
pipeline expansion of biopharma to

fd2b2c5a-3811-4e92-9799-5532273f046d-1
00:14:41.183 --> 00:14:44.948
medtech,
particularly around digital and enabled

fd2b2c5a-3811-4e92-9799-5532273f046d-2
00:14:44.948 --> 00:14:45.640
products.

a177a11d-6bb0-4f17-be8d-5a8ecc022fd1-0
00:14:45.640 --> 00:14:48.931
Then when you look at across the life
sciences sector,

a177a11d-6bb0-4f17-be8d-5a8ecc022fd1-1
00:14:48.931 --> 00:14:53.360
strategic MNA and collaborations and
really pragmatic approaches to that.

6e403831-b1c8-47dd-8cf8-341ceac3966d-0
00:14:53.920 --> 00:14:59.008
And when we look at the innovation and
pipeline expansion surveyed executives

6e403831-b1c8-47dd-8cf8-341ceac3966d-1
00:14:59.008 --> 00:15:03.901
focused on innovation coupled with
scaling of technology as a core pathway

6e403831-b1c8-47dd-8cf8-341ceac3966d-2
00:15:03.901 --> 00:15:04.879
driving growth.

c74c6f31-139b-40b4-9003-8e7827b2ca51-0
00:15:05.080 --> 00:15:10.756
Actions include new drug and device
launches and emphasis on investments in

c74c6f31-139b-40b4-9003-8e7827b2ca51-1
00:15:10.756 --> 00:15:14.640
AI and precision LED growth could
continue in 2026.

d78af854-8649-4d00-8d23-fad4bb6c6830-0
00:15:16.480 --> 00:15:21.083
Buyers may have emphasized innovation and
standard care therapies and discipline

d78af854-8649-4d00-8d23-fad4bb6c6830-1
00:15:21.083 --> 00:15:24.209
integration,
varying assets that may have clean safety

d78af854-8649-4d00-8d23-fad4bb6c6830-2
00:15:24.209 --> 00:15:28.528
profiles, line of sight to pivotal data,
incredible patch to path to launch

d78af854-8649-4d00-8d23-fad4bb6c6830-3
00:15:28.528 --> 00:15:30.119
readiness accelerate uptake.

c81f3f0e-4e88-4bec-a9f8-dad512a0f43f-0
00:15:30.720 --> 00:15:34.874
When we look at the data here near term
revenue drivers,

c81f3f0e-4e88-4bec-a9f8-dad512a0f43f-1
00:15:34.874 --> 00:15:39.393
executives expected that these be large
molecule initiatives,

c81f3f0e-4e88-4bec-a9f8-dad512a0f43f-2
00:15:39.393 --> 00:15:43.840
cell and gene and RNA therapies and
antibody drug complexes.

e48f17a7-0330-4da9-97df-a8ae5f70f477-0
00:15:44.880 --> 00:15:51.786
43% are expanding a new therapeutic area
indications and you would say that we

e48f17a7-0330-4da9-97df-a8ae5f70f477-1
00:15:51.786 --> 00:15:57.120
would look at what are approaches
expanded indications next.

7e7a54f3-ea2b-4c46-b903-5bbef667bd01-0
00:15:58.440 --> 00:16:01.615
We see that in Medtech digital and AI
enabled products,

7e7a54f3-ea2b-4c46-b903-5bbef667bd01-1
00:16:01.615 --> 00:16:06.150
82% say AI and its workflow and decision
support solution and near term revenue

7e7a54f3-ea2b-4c46-b903-5bbef667bd01-2
00:16:06.150 --> 00:16:10.119
drivers and nearly half of Medtech
leaders plan to focus on AI driven

7e7a54f3-ea2b-4c46-b903-5bbef667bd01-3
00:16:10.119 --> 00:16:10.800
diagnostics.

bdf8f284-6c6d-4a2b-aad6-3f340234a938-0
00:16:11.240 --> 00:16:16.955
And so when we look at the issue of AI
and innovation and digital,

bdf8f284-6c6d-4a2b-aad6-3f340234a938-1
00:16:16.955 --> 00:16:22.840
we see those as opportunities to drive
drug discovery, re architect,

bdf8f284-6c6d-4a2b-aad6-3f340234a938-2
00:16:22.840 --> 00:16:28.726
supply chain and manufacturing,
but also think about AI as a balance

bdf8f284-6c6d-4a2b-aad6-3f340234a938-3
00:16:28.726 --> 00:16:32.479
sheet decision,
not as an innovation pilot.

9bbd3de4-0740-49dd-b7e2-9469d0aba259-0
00:16:32.640 --> 00:16:37.018
So moving AI spend from digital
innovation budgets into core R&

9bbd3de4-0740-49dd-b7e2-9469d0aba259-1
00:16:37.018 --> 00:16:41.138
D and clinical operations,
prioritizing end to end use cases in

9bbd3de4-0740-49dd-b7e2-9469d0aba259-2
00:16:41.138 --> 00:16:45.580
focus ways and shifting from model
accuracy to cycle time reduction,

9bbd3de4-0740-49dd-b7e2-9469d0aba259-3
00:16:45.580 --> 00:16:48.800
probability of success,
uplifting cost per asset.

82bc9f49-85fd-4e2e-a690-069187e0ff2a-0
00:16:49.120 --> 00:16:54.320
And there's also plan for MFN and global
pricing in the context of portfolio.

966f85aa-ee75-4090-ad13-446dd16d3701-0
00:16:55.200 --> 00:17:01.171
So when we look at this issue of the
third bucket of MNA,

966f85aa-ee75-4090-ad13-446dd16d3701-1
00:17:01.171 --> 00:17:09.202
we also consider that these are going to
be things which are targeted towards

966f85aa-ee75-4090-ad13-446dd16d3701-2
00:17:09.202 --> 00:17:12.599
innovation, R&D and pipeline.

1f7502a5-7060-479b-bf27-7586b991f2c4-0
00:17:13.160 --> 00:17:18.600
And so it'll be important to watch how
that evolves as we go further in 2026.

dc6386a1-2dfa-4b41-b20d-40b5c6888ce5-0
00:17:18.600 --> 00:17:24.270
And so again,
would love to hear your perspectives on

dc6386a1-2dfa-4b41-b20d-40b5c6888ce5-1
00:17:24.270 --> 00:17:27.840
these issues, what we've surfaced.

4b8e2db2-8454-43b1-a37f-73d2e260aba9-0
00:17:28.560 --> 00:17:31.400
I also think that investment power can
meet opportunity.

afb2cd75-7caf-4146-86a0-28290b96ef99-0
00:17:31.400 --> 00:17:35.974
There may be cross-border collaboration
and capital evolution towards

afb2cd75-7caf-4146-86a0-28290b96ef99-1
00:17:35.974 --> 00:17:38.000
alternatives may continue here.

23ce82ad-88aa-47c5-a8ac-5f9f4dc951a6-0
00:17:38.960 --> 00:17:43.913
And with that,
let's go to our conversation here and

23ce82ad-88aa-47c5-a8ac-5f9f4dc951a6-1
00:17:43.913 --> 00:17:48.400
bring Michelle and Arsalan into the
discussion.

44b1fa19-7f98-4879-ba75-38ed6ecfa863-0
00:17:49.120 --> 00:17:53.506
And again, please share your comments,
thoughts and questions here as we engage

44b1fa19-7f98-4879-ba75-38ed6ecfa863-1
00:17:53.506 --> 00:17:56.960
in discussion with our panelists, Sarah,
Michelle and Arsalan.

77883464-75b6-430b-b7e3-5f43514719a9-0
00:17:56.960 --> 00:17:59.840
So Michelle and Arsalan,
I'll start with you.

21e52c65-279e-4448-a6a2-c2c674eb5e64-0
00:18:00.280 --> 00:18:05.308
What do you see as the implications as
you hear these themes and insights for

21e52c65-279e-4448-a6a2-c2c674eb5e64-1
00:18:05.308 --> 00:18:05.760
Canada?

a49b1b1e-2e35-45a2-9992-9606c0266e81-0
00:18:06.400 --> 00:18:08.653
Michelle,
we'll start with you to discuss the

a49b1b1e-2e35-45a2-9992-9606c0266e81-1
00:18:08.653 --> 00:18:11.200
perspective as it relates to the
healthcare sector.

9fe819cb-7879-4f79-87fb-a855344783c3-0
00:18:12.360 --> 00:18:15.760
Thanks Jane and thank you to you and
Sarah for walking us through.

fe1ce227-70e8-48d4-aefa-635d65ffb068-0
00:18:15.760 --> 00:18:18.869
I think it's,
it's always good to hear what's top of

fe1ce227-70e8-48d4-aefa-635d65ffb068-1
00:18:18.869 --> 00:18:23.505
mind for people as opposed to, you know,
us sharing what, what the trends are,

fe1ce227-70e8-48d4-aefa-635d65ffb068-2
00:18:23.505 --> 00:18:27.670
because I think these are executives
globally and I think it's a good,

fe1ce227-70e8-48d4-aefa-635d65ffb068-3
00:18:27.670 --> 00:18:32.540
it's a good check for us also appreciate
that within the Canadian landscape from a

fe1ce227-70e8-48d4-aefa-635d65ffb068-4
00:18:32.540 --> 00:18:36.120
market standpoint,
Arzel and I will be talking cross sector.

39d836fb-c033-4229-8af0-6fa18ee0dfed-0
00:18:36.120 --> 00:18:40.723
I think there are absolute points of
integration and synergy,

39d836fb-c033-4229-8af0-6fa18ee0dfed-1
00:18:40.723 --> 00:18:46.291
but we'll focus on maybe digging a bit
deeper into each of health and life

39d836fb-c033-4229-8af0-6fa18ee0dfed-2
00:18:46.291 --> 00:18:46.960
sciences.

c9011903-4e5c-4a69-874a-08e93958a613-0
00:18:46.960 --> 00:18:52.840
So, so we're in early 2026,
obviously almost at the end of January.

400e5c31-262b-4a7b-8851-084c7ac2be0d-0
00:18:52.840 --> 00:18:57.543
I think from a Canadian perspective,
I kind of want to say we're in this messy

400e5c31-262b-4a7b-8851-084c7ac2be0d-1
00:18:57.543 --> 00:18:57.960
middle.

d36aa6e9-eae5-4faa-ab06-58646e7b78ca-0
00:18:59.040 --> 00:19:02.945
So by that I mean we're in this,
I would say uncomfortable phase of

d36aa6e9-eae5-4faa-ab06-58646e7b78ca-1
00:19:02.945 --> 00:19:07.080
transformation where the old ways are are
definitely no longer working.

9f41e34f-5b19-4fd4-a901-10d41bd7987a-0
00:19:07.080 --> 00:19:12.782
I think people are well attuned to that,
but the new ways are not are not here at

9f41e34f-5b19-4fd4-a901-10d41bd7987a-1
00:19:12.782 --> 00:19:13.200
scale.

26f9d5a4-3213-4cc1-8646-fb8c04de3412-0
00:19:13.840 --> 00:19:16.960
So my worry and the danger is that we get
stuck here.

cbfe11eb-184c-4d08-b63d-93c23a799c2a-0
00:19:16.960 --> 00:19:20.986
You know,
we spend our 2026 budgets on gap filling,

cbfe11eb-184c-4d08-b63d-93c23a799c2a-1
00:19:20.986 --> 00:19:26.640
like on maintaining legacy systems or
relying on expensive agency staff.

f2fd45d4-8fdf-44cc-8a40-596c8d0d3b7f-0
00:19:26.640 --> 00:19:31.878
There was a 250% increase in the amount
spent in rural areas as an example,

f2fd45d4-8fdf-44cc-8a40-596c8d0d3b7f-1
00:19:31.878 --> 00:19:34.360
because of our workforce challenges.

e60aba6f-947e-486b-89c5-91909c2691aa-0
00:19:34.360 --> 00:19:38.851
So we spend our dollars there as opposed
to on future building and what we're

e60aba6f-947e-486b-89c5-91909c2691aa-1
00:19:38.851 --> 00:19:42.996
trying to help organizations do is
reorient them to investments for the

e60aba6f-947e-486b-89c5-91909c2691aa-2
00:19:42.996 --> 00:19:43.400
future.

e142e9c7-fb9c-4fcf-bf84-823c53cef8ef-0
00:19:44.240 --> 00:19:48.640
So I think the question is then how do we
get and push through this messy middle?

1ee29bb5-873f-4944-9ff3-5bda2de7018e-0
00:19:50.280 --> 00:19:53.065
You know,
we also hear a lot about the need for

1ee29bb5-873f-4944-9ff3-5bda2de7018e-1
00:19:53.065 --> 00:19:56.200
policy reform, new funding models,
AI and technology.

72e768c8-1657-45a3-843c-0a5cc20fa438-0
00:19:56.200 --> 00:20:01.920
Obviously we'll talk a lot about that and
I think all of this is true, but we also.

9dc061aa-c583-402d-9d83-afa054762d40-0
00:20:03.680 --> 00:20:08.217
Can't wait for everything to line up
perfectly as if progress in one area

9dc061aa-c583-402d-9d83-afa054762d40-1
00:20:08.217 --> 00:20:12.080
depends on the others being in place or
the others being true.

19c9efe5-24dd-4756-a466-0bded543fbc1-0
00:20:12.760 --> 00:20:16.303
So, you know, I think the,
the implications are, are that this,

19c9efe5-24dd-4756-a466-0bded543fbc1-1
00:20:16.303 --> 00:20:20.124
we're at a time where we,
we I think need to shift the conversation,

19c9efe5-24dd-4756-a466-0bded543fbc1-2
00:20:20.124 --> 00:20:23.724
you know, from debating,
I would say the ingredients for change,

19c9efe5-24dd-4756-a466-0bded543fbc1-3
00:20:23.724 --> 00:20:26.492
many of which are well articulated in the
report,

19c9efe5-24dd-4756-a466-0bded543fbc1-4
00:20:26.492 --> 00:20:29.759
to focusing on where change actually
starts and compounds.

8cf553e0-ffd3-4403-925b-deeac5f51d8f-0
00:20:30.520 --> 00:20:35.520
So then we can use policy and funding and
AI and tech as accelerators.

b749f0c8-e7f7-4624-94b6-25e44c9dd2b8-0
00:20:36.400 --> 00:20:40.325
I think what we're seeing in provinces
across the board, again,

b749f0c8-e7f7-4624-94b6-25e44c9dd2b8-1
00:20:40.325 --> 00:20:45.294
from a health system standpoint is the
highest leverage point being for that is,

b749f0c8-e7f7-4624-94b6-25e44c9dd2b8-2
00:20:45.294 --> 00:20:48.116
is actually primary care,
because the sector,

b749f0c8-e7f7-4624-94b6-25e44c9dd2b8-3
00:20:48.116 --> 00:20:52.593
if we can improve primary care,
we improve the sector's ability to steer

b749f0c8-e7f7-4624-94b6-25e44c9dd2b8-4
00:20:52.593 --> 00:20:57.501
demand because it is part of the system
that that patients experience on a very

b749f0c8-e7f7-4624-94b6-25e44c9dd2b8-5
00:20:57.501 --> 00:20:58.360
regular basis.

35a6f48b-f316-48f3-aaca-c2f0cdf5405f-0
00:20:58.360 --> 00:21:00.600
It has a role in access and continuity.

cadf2460-3af6-4bb9-b36c-21916762bf0d-0
00:21:01.000 --> 00:21:05.560
And we've seen a number of provinces make
significant investments on this front.

68154faf-4f2f-4c26-b09f-619c65b0fa54-0
00:21:06.520 --> 00:21:09.393
And, and Jay, you can,
you can correct me if I'm wrong,

68154faf-4f2f-4c26-b09f-619c65b0fa54-1
00:21:09.393 --> 00:21:12.625
but we also see this,
I think in the US for for the first time

68154faf-4f2f-4c26-b09f-619c65b0fa54-2
00:21:12.625 --> 00:21:15.857
in a very long time,
I read a report that over 17 or 1/3 of U.

68154faf-4f2f-4c26-b09f-619c65b0fa54-3
00:21:15.857 --> 00:21:15.960
S.

588779da-d27b-4b8e-9712-b0ed0ab2940b-0
00:21:15.960 --> 00:21:18.760
states are now looking to shift some of
the,

588779da-d27b-4b8e-9712-b0ed0ab2940b-1
00:21:18.760 --> 00:21:22.680
the healthcare dollar spend on primary
care rather than acute.

7902cd57-b2c6-4c1b-98ab-bccc6043ded4-0
00:21:22.680 --> 00:21:25.594
So that's,
it seems that that trend also might be

7902cd57-b2c6-4c1b-98ab-bccc6043ded4-1
00:21:25.594 --> 00:21:26.760
consistent globally.

7be9d1aa-6e6c-4288-bb62-c2f8a75fbf57-0
00:21:27.800 --> 00:21:31.330
Obviously,
I think the other consistency is we're

7be9d1aa-6e6c-4288-bb62-c2f8a75fbf57-1
00:21:31.330 --> 00:21:37.119
moving from definitely early signals in
the Canadian health system from simple AI

7be9d1aa-6e6c-4288-bb62-c2f8a75fbf57-2
00:21:37.119 --> 00:21:41.920
experimentation towards more
operationalized and agentic workflows.

4841a644-6dd7-49d9-9477-0372afdd2f4e-0
00:21:42.360 --> 00:21:45.916
But I, I think,
I still think that most of what exists

4841a644-6dd7-49d9-9477-0372afdd2f4e-1
00:21:45.916 --> 00:21:49.020
today is,
is more ambient and support oriented,

4841a644-6dd7-49d9-9477-0372afdd2f4e-2
00:21:49.020 --> 00:21:52.640
just like the,
the outlook suggested with agentic being

4841a644-6dd7-49d9-9477-0372afdd2f4e-3
00:21:52.640 --> 00:21:55.680
largely emergent rather than broadly
deployed.

49b4f081-7ea0-4cd0-96cc-e127ae9c3a2e-0
00:21:55.680 --> 00:22:01.572
So I don't think the challenge for
Canadian health leaders is scaling the

49b4f081-7ea0-4cd0-96cc-e127ae9c3a2e-1
00:22:01.572 --> 00:22:04.120
technology or AI talent we have.

733e43c9-9a64-40b3-be41-1199c2d7f007-0
00:22:04.480 --> 00:22:08.240
The top 10% of AI researchers are in
Canada.

a8c0cda0-e160-4fbc-b1bc-bc92435ce608-0
00:22:08.680 --> 00:22:12.978
I think it's really building the trust
architecture required for AI to act

a8c0cda0-e160-4fbc-b1bc-bc92435ce608-1
00:22:12.978 --> 00:22:14.640
autonomously and responsibly.

fdddebd1-87b9-4e9d-81f4-444d955900b7-0
00:22:14.640 --> 00:22:16.920
And, and Arslan can speak to some of this.

f5db86f5-a282-443c-805a-26fedb262a6c-0
00:22:17.840 --> 00:22:22.591
So, Sarah, unlike the EU,
which has a clear AI acting force,

f5db86f5-a282-443c-805a-26fedb262a6c-1
00:22:22.591 --> 00:22:26.486
you know,
Canada has entered 2026 without a clear

f5db86f5-a282-443c-805a-26fedb262a6c-2
00:22:26.486 --> 00:22:28.199
federal statute on AI.

f15eb005-b9bf-457e-92c5-96531fae904d-0
00:22:29.360 --> 00:22:34.592
The Artificial Intelligence Data Act
didn't actually get enacted back in 2025,

f15eb005-b9bf-457e-92c5-96531fae904d-1
00:22:34.592 --> 00:22:35.520
unfortunately.

3e29c1e2-1ccc-486e-96fa-1d6240272d4e-0
00:22:35.520 --> 00:22:40.713
So we're operating in this bit of AI
would call it a regulatory Gray zone

3e29c1e2-1ccc-486e-96fa-1d6240272d4e-1
00:22:40.713 --> 00:22:43.240
where leaders still remain cautious.

be3c860d-6173-40b7-92f6-0122cfa895a2-0
00:22:43.240 --> 00:22:46.029
Not again,
because the technology isn't ready,

be3c860d-6173-40b7-92f6-0122cfa895a2-1
00:22:46.029 --> 00:22:50.600
but because the accountability and
liability aren't, aren't clearly defined.

6253a80d-86a1-4e26-8651-156255b9a451-0
00:22:50.600 --> 00:22:55.355
So I still think there's a lot of work to
be done there to support, you know,

6253a80d-86a1-4e26-8651-156255b9a451-1
00:22:55.355 --> 00:22:56.880
the move towards agentic.

338bd670-fe36-4937-88ce-d2bffcd605fa-0
00:22:58.000 --> 00:23:02.485
But you know, broadly speaking,
I think there's still a lot of work to be

338bd670-fe36-4937-88ce-d2bffcd605fa-1
00:23:02.485 --> 00:23:03.880
done in, in, in Canada.

0ae27345-6622-49f8-affd-aca07ec0e6dd-0
00:23:03.880 --> 00:23:08.089
But the,
the direction of travel the outlook

0ae27345-6622-49f8-affd-aca07ec0e6dd-1
00:23:08.089 --> 00:23:09.960
reports on is right.

2f9ce71f-4d72-4984-83f7-be1cdfb7d105-0
00:23:10.240 --> 00:23:13.360
I think it's the question of, of what and,
and where we go from here.

50479090-8579-445d-a211-b471cc42c2f6-0
00:23:15.120 --> 00:23:15.400
Thank you.

1bd0d4f0-5733-4519-979a-1593598b6d2a-0
00:23:15.400 --> 00:23:15.840
Michelle.

6884012a-12f1-49db-9faf-c4ad7a36e310-0
00:23:15.840 --> 00:23:21.604
I think you know your comments about the
shift in perspective to health is spot on

6884012a-12f1-49db-9faf-c4ad7a36e310-1
00:23:21.604 --> 00:23:25.841
and consistent across a number of
different geographies and,

6884012a-12f1-49db-9faf-c4ad7a36e310-2
00:23:25.841 --> 00:23:31.120
and how do you create systems and
incentives and workforce to support that.

1164753c-dbc4-49a8-9051-853c677e048a-0
00:23:31.120 --> 00:23:34.818
So with that Arslan,
I would love to hear your perspective on

1164753c-dbc4-49a8-9051-853c677e048a-1
00:23:34.818 --> 00:23:38.160
it as it relates to life sciences and and
cross sector.

7d877d9f-5866-4c5d-a28d-32987ac0bb6d-0
00:23:39.000 --> 00:23:40.120
Yeah, no, I appreciate that Jay.

3f890f52-6c6a-4d3e-a84f-b39d3969105b-0
00:23:40.120 --> 00:23:43.495
And I,
I think Michelle said it correctly in

3f890f52-6c6a-4d3e-a84f-b39d3969105b-1
00:23:43.495 --> 00:23:47.095
Canada, I,
when we look at the overall the 2026

3f890f52-6c6a-4d3e-a84f-b39d3969105b-2
00:23:47.095 --> 00:23:49.720
outlook report, the teams resonate.

a646bede-1b37-4210-856c-92a88c065f67-0
00:23:49.960 --> 00:23:53.280
I think it's their implications are a lot
different in Canada.

2bf8602e-a940-4f1c-84bc-0f5f33c6312d-0
00:23:54.200 --> 00:23:58.156
And perhaps maybe rather than talking
about a lot of the, all the,

2bf8602e-a940-4f1c-84bc-0f5f33c6312d-1
00:23:58.156 --> 00:24:02.407
the trends and their outlook and you know,
going into AI as an example,

2bf8602e-a940-4f1c-84bc-0f5f33c6312d-2
00:24:02.407 --> 00:24:07.072
maybe I'll pick 2 that they stand out
particularly consistent from the outlook

2bf8602e-a940-4f1c-84bc-0f5f33c6312d-3
00:24:07.072 --> 00:24:07.840
report to me.

c9c2bb54-7708-4685-9631-885679b1f8ec-0
00:24:08.520 --> 00:24:13.426
And the first one is resilience about
pure efficiency in Canadian life sciences

c9c2bb54-7708-4685-9631-885679b1f8ec-1
00:24:13.426 --> 00:24:16.922
organization that they are balancing
global uncertainty,

c9c2bb54-7708-4685-9631-885679b1f8ec-2
00:24:16.922 --> 00:24:21.338
the supply chain fragility that exists,
obviously pricing pressures and

c9c2bb54-7708-4685-9631-885679b1f8ec-3
00:24:21.338 --> 00:24:24.160
regulatory scrutiny overall in itself,
right?

cb5c7257-9b32-469a-b145-3fbb0d04aafe-0
00:24:24.160 --> 00:24:28.760
And we are also changing internally
within Canada around that.

e4b60556-d45e-4e2a-827c-2e67b3404546-0
00:24:29.160 --> 00:24:34.020
What's different is that resilience often
here comes working within constraints

e4b60556-d45e-4e2a-827c-2e67b3404546-1
00:24:34.020 --> 00:24:38.637
because we have public payer system
tighter and the margins are tighter and

e4b60556-d45e-4e2a-827c-2e67b3404546-2
00:24:38.637 --> 00:24:43.315
the national regulatory standards are
actually changing pretty fast as well,

e4b60556-d45e-4e2a-827c-2e67b3404546-3
00:24:43.315 --> 00:24:43.679
right.

9b3fe624-ddb8-4956-a692-fb84779d6645-0
00:24:43.960 --> 00:24:48.797
So external pressure for policy,
regulatory restructuring and geopolitical

9b3fe624-ddb8-4956-a692-fb84779d6645-1
00:24:48.797 --> 00:24:53.957
volatility remains top of our Canadian
life sciences and Med tech executives as

9b3fe624-ddb8-4956-a692-fb84779d6645-2
00:24:53.957 --> 00:24:54.280
well.

73312a5f-d93d-434c-8825-da4da81442bc-0
00:24:55.000 --> 00:25:00.086
The second one is value shifting closer
to the patients from the outlook as well

73312a5f-d93d-434c-8825-da4da81442bc-1
00:25:00.086 --> 00:25:05.110
right in Canada that shows up in a strong
force focus around speciality through

73312a5f-d93d-434c-8825-da4da81442bc-2
00:25:05.110 --> 00:25:08.250
critics,
patient services and real world evidence

73312a5f-d93d-434c-8825-da4da81442bc-3
00:25:08.250 --> 00:25:12.960
because demonstrating value to policy
system matters as much as innovation

73312a5f-d93d-434c-8825-da4da81442bc-4
00:25:12.960 --> 00:25:13.399
itself.

30c7c00f-dd3f-4df5-84c8-28da5f445b08-0
00:25:14.280 --> 00:25:18.754
So what I would say is that the global
story is consistent, but the,

30c7c00f-dd3f-4df5-84c8-28da5f445b08-1
00:25:18.754 --> 00:25:23.617
the Canadians amplify it to a Canadian
public care system environment more

30c7c00f-dd3f-4df5-84c8-28da5f445b08-2
00:25:23.617 --> 00:25:26.600
towards evidence,
trust and access in itself.

5e576993-b1ef-47c2-8f5d-4c1ef96ff86f-0
00:25:27.000 --> 00:25:31.946
And one thing I would add on is that when
we look at the the global Outlook report

5e576993-b1ef-47c2-8f5d-4c1ef96ff86f-1
00:25:31.946 --> 00:25:35.045
in Canada,
maybe there's more emphasis on aging and

5e576993-b1ef-47c2-8f5d-4c1ef96ff86f-2
00:25:35.045 --> 00:25:35.880
care delivery.

34f91e15-a7a5-48a4-8739-82abe4f22955-0
00:25:36.200 --> 00:25:39.989
So that is an important aspect
specifically for Med tech and life

34f91e15-a7a5-48a4-8739-82abe4f22955-1
00:25:39.989 --> 00:25:41.080
sciences companies.

54f3ba04-f0bd-41b5-a264-59f04409f415-0
00:25:41.280 --> 00:25:44.480
So when it comes to seniors living in
home care, they're not peripheral.

96a1d01d-3fb8-4e56-a778-536ce3419ef3-0
00:25:44.480 --> 00:25:48.740
They're they're very central and
companies are designing solutions for

96a1d01d-3fb8-4e56-a778-536ce3419ef3-1
00:25:48.740 --> 00:25:52.220
aging in place,
chronic disease management and home based

96a1d01d-3fb8-4e56-a778-536ce3419ef3-2
00:25:52.220 --> 00:25:54.680
care,
which closely aligned with overall

96a1d01d-3fb8-4e56-a778-536ce3419ef3-3
00:25:54.680 --> 00:25:59.360
provincial system priorities for Canada,
which I found was something that was

96a1d01d-3fb8-4e56-a778-536ce3419ef3-4
00:25:59.360 --> 00:26:02.480
touched upon,
but a bit more unique from a Canadian

96a1d01d-3fb8-4e56-a778-536ce3419ef3-5
00:26:02.480 --> 00:26:03.320
point of view.

dddb9958-5274-41eb-adce-5927c4a7e18f-0
00:26:04.600 --> 00:26:04.880
Arsenal.

29da37dd-9797-4bbb-b995-e51c0599b32f-0
00:26:04.880 --> 00:26:09.866
And I would just add that that really
rings true for some of the markets that

29da37dd-9797-4bbb-b995-e51c0599b32f-1
00:26:09.866 --> 00:26:12.040
we interface with in Asia Pacific.

8f9fa048-139c-4133-b778-6b4f621f695c-0
00:26:12.400 --> 00:26:17.442
I was just having a conversation with
colleagues in South Korea and I think

8f9fa048-139c-4133-b778-6b4f621f695c-1
00:26:17.442 --> 00:26:23.016
there's a lot of focus in that market and
other markets over that side of the world

8f9fa048-139c-4133-b778-6b4f621f695c-2
00:26:23.016 --> 00:26:26.732
on support to the agent,
including AI enabled age tech,

8f9fa048-139c-4133-b778-6b4f621f695c-3
00:26:26.732 --> 00:26:31.841
physical tools that you can put in the
home to support elderly people living

8f9fa048-139c-4133-b778-6b4f621f695c-4
00:26:31.841 --> 00:26:32.240
alone.

d6127540-d369-4e9a-8a32-57650c2990d9-0
00:26:32.560 --> 00:26:35.761
Also rehab tools that use AI to help with
physical rehab,

d6127540-d369-4e9a-8a32-57650c2990d9-1
00:26:35.761 --> 00:26:39.680
things that I don't think we've seen
quite as pervasively in the West.

d1d8c4b0-ab90-4999-b181-2f6c02768ac1-0
00:26:39.680 --> 00:26:44.127
And I think some of those countries that
have a slightly older population a few

d1d8c4b0-ab90-4999-b181-2f6c02768ac1-1
00:26:44.127 --> 00:26:48.520
years earlier are definitely ahead of the
curve on some of those technologies.

f02678bb-bb35-4f8b-81d2-c0c46118068f-0
00:26:50.160 --> 00:26:53.606
And I think Arsalan Sarah,
the other issue this brings up is,

f02678bb-bb35-4f8b-81d2-c0c46118068f-1
00:26:53.606 --> 00:26:56.441
you know,
what is the future of caregiving and the

f02678bb-bb35-4f8b-81d2-c0c46118068f-2
00:26:56.441 --> 00:27:00.999
burden that caregivers may face in what
some of these technology tools and system

f02678bb-bb35-4f8b-81d2-c0c46118068f-3
00:27:00.999 --> 00:27:05.446
approaches to support not only those that
are aging and helping them to do that

f02678bb-bb35-4f8b-81d2-c0c46118068f-4
00:27:05.446 --> 00:27:08.670
well in community,
but also support caregivers, you know,

f02678bb-bb35-4f8b-81d2-c0c46118068f-5
00:27:08.670 --> 00:27:09.560
in that process.

c69c4e1a-a2fb-47d2-aa43-a6099677a363-0
00:27:09.560 --> 00:27:12.480
And so we're hearing, you know,
a lot of that conversation too.

31c247a8-5ca5-4c64-98c9-cc5d7bf19614-0
00:27:12.480 --> 00:27:17.620
And one of the frameworks that in terms
of age friendly systems, you know,

31c247a8-5ca5-4c64-98c9-cc5d7bf19614-1
00:27:17.620 --> 00:27:23.104
it's growing in certainly the US and and
other places is notion of the four M's

31c247a8-5ca5-4c64-98c9-cc5d7bf19614-2
00:27:23.104 --> 00:27:26.120
mentation, medication management,
mobility.

647a0398-d7dd-4846-8b91-4080ad86bb5b-0
00:27:26.120 --> 00:27:30.737
And then what matters to you,
What matters is the core of what patient

647a0398-d7dd-4846-8b91-4080ad86bb5b-1
00:27:30.737 --> 00:27:35.614
and family preferences or consumer and
family preferences that you anchor,

647a0398-d7dd-4846-8b91-4080ad86bb5b-2
00:27:35.614 --> 00:27:36.720
you know, around.

ec6afcb9-cfc6-4bb2-885f-f20592890bc2-0
00:27:36.720 --> 00:27:40.082
So, and, and I think our son,
the the points about resilience,

ec6afcb9-cfc6-4bb2-885f-f20592890bc2-1
00:27:40.082 --> 00:27:44.298
we'll take would love to hear more as we
go into discussion about what some of

ec6afcb9-cfc6-4bb2-885f-f20592890bc2-2
00:27:44.298 --> 00:27:46.807
those factors you see that support
resilience,

ec6afcb9-cfc6-4bb2-885f-f20592890bc2-3
00:27:46.807 --> 00:27:50.756
because one of the things that some may
think is a disconnect between the

ec6afcb9-cfc6-4bb2-885f-f20592890bc2-4
00:27:50.756 --> 00:27:54.759
optimism of the business community with
so many challenges in the external

ec6afcb9-cfc6-4bb2-885f-f20592890bc2-5
00:27:54.759 --> 00:27:55.399
environment.

077da9b3-0195-41c0-b818-c573f9917297-0
00:27:55.720 --> 00:28:00.767
I think that resilience that's been built
through COVID and over the last several

077da9b3-0195-41c0-b818-c573f9917297-1
00:28:00.767 --> 00:28:03.537
years is,
I think something that systems and

077da9b3-0195-41c0-b818-c573f9917297-2
00:28:03.537 --> 00:28:08.399
organizations and businesses drawn to
help navigate through this time as well.

89b355ab-dbfe-439d-a1a6-00e4892f52c5-0
00:28:08.480 --> 00:28:12.240
But Sarah Howard,
is Deloitte helping healthcare life

89b355ab-dbfe-439d-a1a6-00e4892f52c5-1
00:28:12.240 --> 00:28:15.303
sciences leaders kind of work through
this,

89b355ab-dbfe-439d-a1a6-00e4892f52c5-2
00:28:15.303 --> 00:28:19.760
this moment in time and in advance some
of these trends we see.

4dab0408-cd84-404c-adfb-15f7df69d9a7-0
00:28:21.000 --> 00:28:21.200
Sure.

4aca5d5d-b27c-4908-a285-553577228eec-0
00:28:21.200 --> 00:28:23.384
Well,
obviously we work on a really wide range

4aca5d5d-b27c-4908-a285-553577228eec-1
00:28:23.384 --> 00:28:24.640
of issues with our clients.

f6105e72-7243-49af-ae4a-28537d74a662-0
00:28:24.640 --> 00:28:27.280
So as Arsalan did,
I'll just pick out a few key themes.

2aa660d6-9965-4215-a507-da9e9f979776-0
00:28:27.640 --> 00:28:30.886
So workforce,
you'll will remember that workforce and

2aa660d6-9965-4215-a507-da9e9f979776-1
00:28:30.886 --> 00:28:35.635
key workforce retention and workforce
satisfaction or really key themes in the

2aa660d6-9965-4215-a507-da9e9f979776-2
00:28:35.635 --> 00:28:38.040
healthcare side of our report this year.

1c67cce9-46b7-4607-acce-2318c00127c8-0
00:28:38.400 --> 00:28:41.946
We have a lot of programs running in
different countries around the world to

1c67cce9-46b7-4607-acce-2318c00127c8-1
00:28:41.946 --> 00:28:42.960
support the workforce.

b8fa8743-b0b1-4c62-960d-75c0d055997b-0
00:28:43.240 --> 00:28:48.684
Some health systems don't have as slick
or as digitized an HR system as you might

b8fa8743-b0b1-4c62-960d-75c0d055997b-1
00:28:48.684 --> 00:28:49.680
expect in 2026.

27c19e95-2b9c-4c7d-a8ca-ce54a34421e1-0
00:28:49.680 --> 00:28:51.520
There are a lot of manual processes it's
under.

fd690a25-b09f-4565-ae7c-2c2d977ad9db-0
00:28:51.680 --> 00:28:54.040
It's hard to understand one's benefits.

8a70c6e4-921e-4b0c-9f28-7207ddd444c3-0
00:28:54.280 --> 00:28:56.880
Holiday allocation,
scheduling can be difficult.

40b0f681-daf1-4ae7-b136-407c77d10038-0
00:28:57.200 --> 00:29:00.403
So digitization of a lot of those HR
tools is something that we've been

40b0f681-daf1-4ae7-b136-407c77d10038-1
00:29:00.403 --> 00:29:01.160
working a lot on.

c22fe1c5-d623-4b9c-9271-d539b3bfd8e5-0
00:29:01.440 --> 00:29:05.317
Things to support the workforce and to
increase workforce satisfaction to keep

c22fe1c5-d623-4b9c-9271-d539b3bfd8e5-1
00:29:05.317 --> 00:29:08.360
people in the professions is a really big
part of what we do.

48bee7a0-a4b1-4e15-b136-cecb9c77bdf9-0
00:29:08.800 --> 00:29:12.823
Another one is obviously working with our
clients on how they want to think about

48bee7a0-a4b1-4e15-b136-cecb9c77bdf9-1
00:29:12.823 --> 00:29:13.560
adoption of AI.

956e3a51-824e-44d4-9bd4-d56d0dcd4dc1-0
00:29:13.560 --> 00:29:17.330
Michelle spoke very eloquently about the
different regulatory frameworks and how

956e3a51-824e-44d4-9bd4-d56d0dcd4dc1-1
00:29:17.330 --> 00:29:18.680
that stymieing some progress.

279957f5-a65c-4e8b-a411-9384f6a4d211-0
00:29:19.080 --> 00:29:23.933
I would say putting governance in place
and a clear system for how AI is going to

279957f5-a65c-4e8b-a411-9384f6a4d211-1
00:29:23.933 --> 00:29:28.669
be implemented and how it's going to work
in a specific organization is another

279957f5-a65c-4e8b-a411-9384f6a4d211-2
00:29:28.669 --> 00:29:31.392
thing beyond use cases and choosing the
tech,

279957f5-a65c-4e8b-a411-9384f6a4d211-3
00:29:31.392 --> 00:29:35.239
just setting up the foundations for
organizations to understand.

f97e8c71-4891-4030-a723-b9579b5ff01c-0
00:29:35.240 --> 00:29:36.720
How are we going to use this tool?

b65908ad-4de9-423c-b7ef-329a672b16ab-0
00:29:36.920 --> 00:29:38.480
Where does accountability lie?

1953f941-e835-474d-8d29-5fe5b6b9eb4d-0
00:29:38.640 --> 00:29:41.320
Who's in charge of making sure that it
meets state standards?

3b2c8820-3d79-4763-94b1-896a811c7920-0
00:29:41.320 --> 00:29:43.080
What is our governance framework?

498078f0-1200-4a20-8492-2ed8b945c395-0
00:29:43.280 --> 00:29:45.961
You know,
how are we thinking about morality,

498078f0-1200-4a20-8492-2ed8b945c395-1
00:29:45.961 --> 00:29:49.400
trustworthy AI,
all of the other issues that go around it?

6e0f39e6-6bc6-4142-8992-e28a9fc51370-0
00:29:49.400 --> 00:29:53.990
So we do a lot of work with our clients
sort of all around that AI space and also,

6e0f39e6-6bc6-4142-8992-e28a9fc51370-1
00:29:53.990 --> 00:29:56.644
you know,
building some cool tech on some great

6e0f39e6-6bc6-4142-8992-e28a9fc51370-2
00:29:56.644 --> 00:29:57.639
platforms as well.

89136460-f708-4c11-8cd3-915cb2c05e80-0
00:29:58.440 --> 00:30:01.400
And the last one that I'll mention,
which I mentioned every year and it's

89136460-f708-4c11-8cd3-915cb2c05e80-1
00:30:01.400 --> 00:30:02.640
still a big issue is just cost.

e89adffb-e411-4fd5-8aed-5165d17c0ebd-0
00:30:02.840 --> 00:30:07.019
So we are still doing work in many,
many countries around the world to try to

e89adffb-e411-4fd5-8aed-5165d17c0ebd-1
00:30:07.019 --> 00:30:08.680
look at operational efficiency.

1b478586-0559-48ba-a23c-c3e996aca730-0
00:30:08.680 --> 00:30:10.200
Why is the cost base so high?

cd84450d-a2d8-423d-b492-1e423c849875-0
00:30:10.520 --> 00:30:12.553
And not only, you know,
can we grow revenue,

cd84450d-a2d8-423d-b492-1e423c849875-1
00:30:12.553 --> 00:30:14.000
but can we shrink the cost base?

c53de836-acad-461f-b11a-700dc510527c-0
00:30:14.280 --> 00:30:17.240
And yes, tech is a part of that,
but it's not the whole picture.

574a6e37-5f6b-433e-ae1d-99844d25d186-0
00:30:17.360 --> 00:30:21.097
So just a little sampling of the sorts of
things that we get involved with there,

574a6e37-5f6b-433e-ae1d-99844d25d186-1
00:30:21.097 --> 00:30:21.280
Jay.

17d7d421-be5c-4ef8-b018-a579e3a534bc-0
00:30:23.040 --> 00:30:23.720
Thanks, Sarah.

b2e415d8-96b6-4e0c-900d-9f00c6791223-0
00:30:23.720 --> 00:30:26.822
And you know,
we'll come around to this in the

b2e415d8-96b6-4e0c-900d-9f00c6791223-1
00:30:26.822 --> 00:30:27.680
conversation.

4aa1ab33-98f8-41c1-812d-861a7c8af0bc-0
00:30:27.680 --> 00:30:30.585
But you know,
I were I had the opportunity to be at JP

4aa1ab33-98f8-41c1-812d-861a7c8af0bc-1
00:30:30.585 --> 00:30:31.800
Morgan Health recently.

dd792763-2be3-4f06-a7e6-508b68b058bd-0
00:30:31.800 --> 00:30:36.466
So there's some interesting themes that
have emerged there that are consistent

dd792763-2be3-4f06-a7e6-508b68b058bd-1
00:30:36.466 --> 00:30:39.655
with what we shared with Outlook,
but also, you know,

dd792763-2be3-4f06-a7e6-508b68b058bd-2
00:30:39.655 --> 00:30:43.849
some of the ways that folks are
navigating and some of the use case we

dd792763-2be3-4f06-a7e6-508b68b058bd-3
00:30:43.849 --> 00:30:44.440
can share.

a4c73eb5-5325-405e-9f49-d9e2893f1475-0
00:30:44.440 --> 00:30:50.040
And I see we've got a perspective here in
in terms of a question and comment.

fdd8bdfc-e5e3-4911-b553-fc8cc1f9f45c-0
00:30:50.040 --> 00:30:52.960
But let me turn to Arslan.

9dd1b0b2-ab43-43b1-a5a0-b954613615df-0
00:30:53.120 --> 00:30:58.220
Sarah mentioned AI and digital and
technology are some when we think about

9dd1b0b2-ab43-43b1-a5a0-b954613615df-1
00:30:58.220 --> 00:31:01.484
Med tech,
which I said earlier that just across

9dd1b0b2-ab43-43b1-a5a0-b954613615df-2
00:31:01.484 --> 00:31:04.680
life sciences, M&
A is an important issue.

0862d57e-8d53-4391-8cdf-7c2b6eeb823b-0
00:31:05.560 --> 00:31:11.283
Where are you seeing,
how are you seeing that play out in terms

0862d57e-8d53-4391-8cdf-7c2b6eeb823b-1
00:31:11.283 --> 00:31:16.380
of globally the,
you know how those themes are impacting

0862d57e-8d53-4391-8cdf-7c2b6eeb823b-2
00:31:16.380 --> 00:31:21.120
Canada in terms of renewed M and a
appetite medtech?

298b9eb5-a452-448e-bc32-2f643c893b5c-0
00:31:21.640 --> 00:31:22.680
Yeah, absolutely right.

8271299f-0caa-4b33-8a2f-891db66d4519-0
00:31:22.880 --> 00:31:27.233
And I I think one thing to recognize for
Canada specifically is that our medtech

8271299f-0caa-4b33-8a2f-891db66d4519-1
00:31:27.233 --> 00:31:31.102
market is very different when it comes
from US and not just from a size

8271299f-0caa-4b33-8a2f-891db66d4519-2
00:31:31.102 --> 00:31:33.360
perspective, but even our approach, right.

9c6f88f7-3bc8-42bc-82f2-e6f386a8bab6-0
00:31:33.560 --> 00:31:38.277
So the adoption is less about directly
just the consumer demand signals,

9c6f88f7-3bc8-42bc-82f2-e6f386a8bab6-1
00:31:38.277 --> 00:31:43.060
but more about clinical validation,
procurement realities and the pathway

9c6f88f7-3bc8-42bc-82f2-e6f386a8bab6-2
00:31:43.060 --> 00:31:48.424
navigation because that's because that's
important given it's a public care system

9c6f88f7-3bc8-42bc-82f2-e6f386a8bab6-3
00:31:48.424 --> 00:31:50.040
for us and itself, right.

de1a03da-ebbc-4523-adc8-9235eed12f1c-0
00:31:50.040 --> 00:31:53.720
So staying ahead of the regulatory
modernization is very important.

8cab6b7a-b7f1-4044-84a9-856b02feb30c-0
00:31:53.720 --> 00:31:57.850
And I would say for the the folks that
have joined us,

8cab6b7a-b7f1-4044-84a9-856b02feb30c-1
00:31:57.850 --> 00:32:04.007
we're working on managing medical devices
that there's a new licenses application

8cab6b7a-b7f1-4044-84a9-856b02feb30c-2
00:32:04.007 --> 00:32:08.212
categorization that's going on in Feb
second this year,

8cab6b7a-b7f1-4044-84a9-856b02feb30c-3
00:32:08.212 --> 00:32:13.920
which raises the bar on being regulatory
ready medtech device as you scale.

2821ef3f-8205-47da-8b32-d660341d2acd-0
00:32:14.800 --> 00:32:21.248
And when it comes to M&A,
we see a lot of potential and a lot of

2821ef3f-8205-47da-8b32-d660341d2acd-1
00:32:21.248 --> 00:32:24.800
renewed growth within Canadian sector.

f158b2bc-13e2-45a0-8260-637298e51c9e-0
00:32:24.800 --> 00:32:29.530
Obviously that's consistent with what
you've seen in globally as well,

f158b2bc-13e2-45a0-8260-637298e51c9e-1
00:32:29.530 --> 00:32:34.726
right and especially within biotech,
speciality pharma and Metech agencies as

f158b2bc-13e2-45a0-8260-637298e51c9e-2
00:32:34.726 --> 00:32:38.990
well for it and where,
where and you see the deal sizes are not

f158b2bc-13e2-45a0-8260-637298e51c9e-3
00:32:38.990 --> 00:32:43.187
just on the lower end,
but they are actually on the higher end

f158b2bc-13e2-45a0-8260-637298e51c9e-4
00:32:43.187 --> 00:32:43.720
as well.

0dc7dabc-0b2e-4487-b1d4-e86b74fec87a-0
00:32:43.720 --> 00:32:50.083
Now crossing a couple of billion dollars
which which is newer for our Metech

0dc7dabc-0b2e-4487-b1d4-e86b74fec87a-1
00:32:50.083 --> 00:32:51.240
market itself.

1bcd0d03-1555-48a6-a53e-959f9270dca9-0
00:32:51.400 --> 00:32:56.607
So Canada punches above its weight and
innovation and early stage assets,

1bcd0d03-1555-48a6-a53e-959f9270dca9-1
00:32:56.607 --> 00:33:02.449
which is what it has been priding itself,
but it's now actually growing and coming

1bcd0d03-1555-48a6-a53e-959f9270dca9-2
00:33:02.449 --> 00:33:07.657
out to be part of a bigger impact both at
the the domestic consolidation,

1bcd0d03-1555-48a6-a53e-959f9270dca9-3
00:33:07.657 --> 00:33:11.880
but also across from our cross-border
acquisitions as well.

6e4d622f-dcc8-4836-8a3e-dbd4df8652a0-0
00:33:11.880 --> 00:33:17.280
Great, Thanks Arsenal.

23ab66c8-9756-4fbd-b7f7-87e0992d9f03-0
00:33:17.280 --> 00:33:23.867
And I, you know, there's one of the, the,
there are a couple questions that relate

23ab66c8-9756-4fbd-b7f7-87e0992d9f03-1
00:33:23.867 --> 00:33:29.660
to some this thread of conversation
talking about 1 around this issue of

23ab66c8-9756-4fbd-b7f7-87e0992d9f03-2
00:33:29.660 --> 00:33:32.200
health systems deploying Canada.

97d163f4-dfc8-4e93-b401-5ca771d6525d-0
00:33:32.200 --> 00:33:35.960
First tech tools versus solutions from
elsewhere.

5a970569-415d-4bdf-b840-0ae65104d5a4-0
00:33:36.960 --> 00:33:40.020
You know, Michelle,
maybe you'll have a perspective, you know,

5a970569-415d-4bdf-b840-0ae65104d5a4-1
00:33:40.020 --> 00:33:41.720
on what you're seeing market there.

2a4868c6-eae0-4460-a05a-6f0718176559-0
00:33:41.720 --> 00:33:47.847
And then another round where we are when
you think about US and Canada in terms of

2a4868c6-eae0-4460-a05a-6f0718176559-1
00:33:47.847 --> 00:33:51.760
development utilization of digital health
solutions.

80a9389c-e0e5-4bd4-bc53-df574cde3cca-0
00:33:52.680 --> 00:33:55.920
So want to see if Arsalan or Michelle,
you want to respond to that?

e51a2218-3911-410f-a8ce-066e267d8cc1-0
00:33:55.920 --> 00:33:59.141
And then Sarah,
I can start and then Irwin,

e51a2218-3911-410f-a8ce-066e267d8cc1-1
00:33:59.141 --> 00:34:00.240
please jump in.

beb28fb0-7302-41c9-85bf-976e054e4e4c-0
00:34:00.240 --> 00:34:01.800
So it's it's a great question.

ab86b611-2ef6-4af2-a88b-2fc02e8a2466-0
00:34:01.800 --> 00:34:02.360
I think.

dcae1c8c-5d36-469d-972c-c559acc444d6-0
00:34:02.800 --> 00:34:09.039
So we here on a regular basis,
how unfortunate it is that we have a

dcae1c8c-5d36-469d-972c-c559acc444d6-1
00:34:09.039 --> 00:34:16.287
number of health research institutes,
digital tech companies who develop solid

dcae1c8c-5d36-469d-972c-c559acc444d6-2
00:34:16.287 --> 00:34:19.040
tech to be deployed in market.

edb521e3-5d1e-4ce1-8fc2-25823ad25f5b-0
00:34:19.560 --> 00:34:24.093
And I would say in some cases in
particular Medtech and Aeroslink can

edb521e3-5d1e-4ce1-8fc2-25823ad25f5b-1
00:34:24.093 --> 00:34:25.000
speak to this.

8d980ce9-9841-4828-ab3d-9f592327bb23-0
00:34:25.280 --> 00:34:27.944
It takes so long from a process
standpoint,

8d980ce9-9841-4828-ab3d-9f592327bb23-1
00:34:27.944 --> 00:34:32.606
from an approval standpoint that these
companies in some cases can no longer

8d980ce9-9841-4828-ab3d-9f592327bb23-2
00:34:32.606 --> 00:34:36.360
wait and have to deploy to other markets
just to stay afloat.

eff45c12-0c2f-4209-bc86-5300464fe4fe-0
00:34:36.760 --> 00:34:39.000
And this is Canadian IP.

03dfd71b-93c8-434e-b376-d1877568b401-0
00:34:39.000 --> 00:34:46.294
These are Canadian leaders and somehow
they find it very difficult to then be

03dfd71b-93c8-434e-b376-d1877568b401-1
00:34:46.294 --> 00:34:52.560
able to deliver these services in tech to
the Canadian population.

daca4659-ce36-4234-a8d1-24887c7febea-0
00:34:52.960 --> 00:34:59.754
I think there have been solid efforts and
initiatives in place to support digital

daca4659-ce36-4234-a8d1-24887c7febea-1
00:34:59.754 --> 00:35:01.080
first companies.

39bb7652-9461-46b9-8f14-ee2846c10633-0
00:35:01.080 --> 00:35:03.040
The Ken Health Network is 1.

801b02e1-d69d-4aff-8b80-f3ad069b56ab-0
00:35:03.880 --> 00:35:10.265
So that is an organization federally
funded that looks to qualify and match

801b02e1-d69d-4aff-8b80-f3ad069b56ab-1
00:35:10.265 --> 00:35:15.223
digital companies,
Canadian based digital health companies

801b02e1-d69d-4aff-8b80-f3ad069b56ab-2
00:35:15.223 --> 00:35:17.240
with what we call edges.

e3a8de64-3dc4-4c37-a3a3-7e3e606a0b49-0
00:35:17.240 --> 00:35:23.329
So could be anyone from a hospital
through to a health authority through to,

e3a8de64-3dc4-4c37-a3a3-7e3e606a0b49-1
00:35:23.329 --> 00:35:27.600
you know, a service provider organization,
home care.

3bbb00fc-d2e0-4e03-9c9b-3e4933d68be9-0
00:35:28.600 --> 00:35:31.315
And what they do is try to match that,
that, that,

3bbb00fc-d2e0-4e03-9c9b-3e4933d68be9-1
00:35:31.315 --> 00:35:33.977
that that tech can be piloted and then if
proven,

3bbb00fc-d2e0-4e03-9c9b-3e4933d68be9-2
00:35:33.977 --> 00:35:36.640
can be then delivered to the rest of the
network.

fc9c807c-c057-42e4-93eb-598c644db57f-0
00:35:36.640 --> 00:35:42.162
So they tried to remove procurement as a
barrier for innovation and they've,

fc9c807c-c057-42e4-93eb-598c644db57f-1
00:35:42.162 --> 00:35:45.533
they've done some really interesting work
and,

fc9c807c-c057-42e4-93eb-598c644db57f-2
00:35:45.533 --> 00:35:49.120
and have spearheaded a a lot of need
initiatives.

df897125-cac2-4646-9d91-1d35494596f9-0
00:35:49.480 --> 00:35:52.289
But again, that's,
that's one that continues to be scaled,

df897125-cac2-4646-9d91-1d35494596f9-1
00:35:52.289 --> 00:35:55.480
not just within health,
but they're also looking at other sectors.

fcf0dadc-cd92-4dde-8b03-c58a2951ab06-0
00:35:56.560 --> 00:35:58.280
But Arzan, do you want to speak to other?

627c1e97-9988-4f6a-b1fb-657b787384bd-0
00:36:02.160 --> 00:36:06.718
Yeah, I, I think for me,
maybe I can add on to the same the trend

627c1e97-9988-4f6a-b1fb-657b787384bd-1
00:36:06.718 --> 00:36:12.106
that the underlying problem is also that
if you look at our own access to the

627c1e97-9988-4f6a-b1fb-657b787384bd-2
00:36:12.106 --> 00:36:15.560
latest LLMS as an example,
where are they hosted?

62878a15-6e34-41c8-84f9-c9fe783ea153-0
00:36:16.320 --> 00:36:17.840
They're not hosted in Canada.

09357955-befb-4ee7-85aa-bb9569807521-0
00:36:18.040 --> 00:36:22.567
So it then means that the AI inference is
actually processing actually happens

09357955-befb-4ee7-85aa-bb9569807521-1
00:36:22.567 --> 00:36:24.000
outside Canada sometimes.

4c189a83-d047-4464-8640-6eb8bb10662c-0
00:36:24.280 --> 00:36:27.766
So when you look at Pocs,
obviously because the data residency and

4c189a83-d047-4464-8640-6eb8bb10662c-1
00:36:27.766 --> 00:36:30.160
the solid data sovereignty is very
important.

1467bcab-0aa8-4758-b051-c792d13fc100-0
00:36:30.440 --> 00:36:35.082
So that is still good, right,
Because we have hyperscalers and the data

1467bcab-0aa8-4758-b051-c792d13fc100-1
00:36:35.082 --> 00:36:39.080
will get stored and there's no issues on
the compliance side.

2f0f9569-4d87-4e4a-9a1c-32d830afa252-0
00:36:39.440 --> 00:36:41.600
But from from apoc perspective.

651514dc-9bc9-49b7-8084-c6feee7ff9ce-0
00:36:41.760 --> 00:36:45.573
But when you start looking at scalability,
these becomes very challenging given the

651514dc-9bc9-49b7-8084-c6feee7ff9ce-1
00:36:45.573 --> 00:36:48.751
environment that we're working with,
which then forces these Med tech

651514dc-9bc9-49b7-8084-c6feee7ff9ce-2
00:36:48.751 --> 00:36:52.247
companies to actually go across the
border and actually sell faster and grow

651514dc-9bc9-49b7-8084-c6feee7ff9ce-3
00:36:52.247 --> 00:36:52.520
there.

9a17f910-5e81-421e-8736-f12200928f04-0
00:36:53.440 --> 00:36:56.910
And then it becomes more complicated for
them to come back because the most of the

9a17f910-5e81-421e-8736-f12200928f04-1
00:36:56.910 --> 00:36:58.960
road map is actually driven outside
Canada then.

8f5e601e-06cb-479c-95d5-822a48271975-0
00:36:59.200 --> 00:37:02.357
So you look at this incubation happening
in Canada,

8f5e601e-06cb-479c-95d5-822a48271975-1
00:37:02.357 --> 00:37:07.094
lots of great initiatives that allow them
to do great Pocs and, and you know,

8f5e601e-06cb-479c-95d5-822a48271975-2
00:37:07.094 --> 00:37:11.528
but the scalability is happening across
and you know, it's, it's ironic,

8f5e601e-06cb-479c-95d5-822a48271975-3
00:37:11.528 --> 00:37:15.840
but sometimes Canada is called the
healthcare capital of Pocs as well.

36a4cfb8-c0cd-4c13-9e1d-afe959c19672-0
00:37:15.840 --> 00:37:21.560
Well, Arsena, thanks for that perspective.

a95d5bd8-5634-4477-860b-6ef29aae960d-0
00:37:21.560 --> 00:37:26.685
And I want to bring in Sarah's view here
because one of the things that you see in

a95d5bd8-5634-4477-860b-6ef29aae960d-1
00:37:26.685 --> 00:37:31.564
the perspective from Europe is where
healthcare life science organizations are

a95d5bd8-5634-4477-860b-6ef29aae960d-2
00:37:31.564 --> 00:37:32.800
on their AI journey.

bbb9a887-aff5-481c-8b92-464beaab4f56-0
00:37:32.840 --> 00:37:37.817
You know, what are the biggest barriers,
what are their opportunities in your

bbb9a887-aff5-481c-8b92-464beaab4f56-1
00:37:37.817 --> 00:37:38.520
experience?

0e7ec16d-a18f-4c5f-970c-21df7ef3d3f1-0
00:37:39.640 --> 00:37:41.520
Yeah, I'll talk a bit about that.

ca430231-228d-4d18-a234-7e8286914992-0
00:37:41.520 --> 00:37:46.400
I would say that probably three kind of
different themes to bring out.

535500c9-3bfc-4598-8818-9995f10a9bcc-0
00:37:46.400 --> 00:37:50.829
One would be a theme that Michelle
already mentioned around regulation,

535500c9-3bfc-4598-8818-9995f10a9bcc-1
00:37:50.829 --> 00:37:54.520
one definitely around scale,
and one kind of around choice.

633c56b0-a73a-4a2f-b4b5-328e14d0b490-0
00:37:54.840 --> 00:37:59.018
And I think even though Michelle
referenced that, you know,

633c56b0-a73a-4a2f-b4b5-328e14d0b490-1
00:37:59.018 --> 00:38:03.197
there there are regulatory frameworks
that exist in Europe,

633c56b0-a73a-4a2f-b4b5-328e14d0b490-2
00:38:03.197 --> 00:38:06.679
they are not necessarily fit for the full
future.

f8b42c68-e41f-4ec9-abf7-09666a3fdafc-0
00:38:06.680 --> 00:38:09.723
And regulators around the world are
really still struggling with how to

f8b42c68-e41f-4ec9-abf7-09666a3fdafc-1
00:38:09.723 --> 00:38:12.640
regulate something that they don't fully
have their arms around yet.

a023dd10-3660-41b2-8813-fa54ce6a37e2-0
00:38:13.400 --> 00:38:16.520
So I think you should definitely look out
for regulation to change.

9fd4068a-eabe-4add-a4b3-5276f6e3c8b7-0
00:38:16.520 --> 00:38:19.240
And I think that makes healthcare
providers a little skittish.

60195465-a2c1-4727-9927-8347f365f5d7-0
00:38:19.640 --> 00:38:23.499
I know that I personally am sitting on
sort of a panel which is feeding into new

60195465-a2c1-4727-9927-8347f365f5d7-1
00:38:23.499 --> 00:38:26.120
regulatory guidance that will be coming
out in the UK.

6fcc26d9-0ad8-4dca-ae0b-3cea98499cb1-0
00:38:26.120 --> 00:38:29.206
And they're big questions being asked,
questions that are probably not

6fcc26d9-0ad8-4dca-ae0b-3cea98499cb1-1
00:38:29.206 --> 00:38:30.120
answerable right now.

4b7977d4-a77f-445c-92a1-95793d51713e-0
00:38:30.480 --> 00:38:33.928
And the challenge for the regulators is
how can we put a framework in place that

4b7977d4-a77f-445c-92a1-95793d51713e-1
00:38:33.928 --> 00:38:35.120
will serve us in the future?

91ac9961-e5e6-48cd-acfc-dac3f4ac5e8b-0
00:38:35.560 --> 00:38:38.516
And we don't really know exactly what
this is going to look like or how this is

91ac9961-e5e6-48cd-acfc-dac3f4ac5e8b-1
00:38:38.516 --> 00:38:38.960
going to go.

7007b79d-9f08-477a-8957-71ca8fbd2274-0
00:38:39.640 --> 00:38:42.365
I think that scale, you know,
the world over, you know,

7007b79d-9f08-477a-8957-71ca8fbd2274-1
00:38:42.365 --> 00:38:43.680
it's just a huge challenge.

ab670180-da35-4432-905a-337fed680142-0
00:38:43.680 --> 00:38:49.366
And Arsenal, I already mentioned this,
but we're not at an adoption curve place

ab670180-da35-4432-905a-337fed680142-1
00:38:49.366 --> 00:38:54.200
yet for lots of different elements of AI
for a lot of good reasons.

972d5b60-ba87-483e-9cf1-bfcacae07599-0
00:38:54.560 --> 00:38:59.039
And I think we are at a real kind of
pivot point where we see consumer facing

972d5b60-ba87-483e-9cf1-bfcacae07599-1
00:38:59.039 --> 00:39:01.796
healthcare,
AI tools just being released to the

972d5b60-ba87-483e-9cf1-bfcacae07599-2
00:39:01.796 --> 00:39:05.873
market large scale, you know,
from Open AI and Anthropic that citizens

972d5b60-ba87-483e-9cf1-bfcacae07599-3
00:39:05.873 --> 00:39:10.640
will start to use for healthcare purposes,
while the providers are being much more

972d5b60-ba87-483e-9cf1-bfcacae07599-4
00:39:10.640 --> 00:39:15.120
reticent in terms of how much they're
willing to put into their own AI tools.

e69111bf-fb5a-4e31-9d81-44892d036ecd-0
00:39:15.480 --> 00:39:18.084
And I wonder, you know,
how those two things will play off

e69111bf-fb5a-4e31-9d81-44892d036ecd-1
00:39:18.084 --> 00:39:21.660
against each other in the months and and
years to come and whether some of those

e69111bf-fb5a-4e31-9d81-44892d036ecd-2
00:39:21.660 --> 00:39:25.192
consumer facing tools will actually be
integrated into the provider side of the

e69111bf-fb5a-4e31-9d81-44892d036ecd-3
00:39:25.192 --> 00:39:27.400
market because they've just gone farther,
faster.

b2535f07-0c0d-44b9-b99b-a326978d692a-0
00:39:27.760 --> 00:39:30.280
And I think that will be a very
interesting space to watch.

b2231425-141e-4fab-be40-859f0f5b70ac-0
00:39:30.760 --> 00:39:35.743
The other thing I look at and see with
great interest is just a huge variety of

b2231425-141e-4fab-be40-859f0f5b70ac-1
00:39:35.743 --> 00:39:38.920
choice where there are tools doing
similar things.

1efd6694-cafd-4b63-8a2b-7d1045e7867b-0
00:39:39.120 --> 00:39:42.746
You have a lot of really smart,
sparky small health tech startups that

1efd6694-cafd-4b63-8a2b-7d1045e7867b-1
00:39:42.746 --> 00:39:45.198
will have a point solution,
which is excellent,

1efd6694-cafd-4b63-8a2b-7d1045e7867b-2
00:39:45.198 --> 00:39:48.978
but we'll struggle to get traction
because they're small and don't have a

1efd6694-cafd-4b63-8a2b-7d1045e7867b-3
00:39:48.978 --> 00:39:50.000
large customer base.

542ad707-5aef-453e-9304-4b3d4d855b44-0
00:39:50.360 --> 00:39:54.081
And then you'll see big tech launch a
tool which does 80% of what that small

542ad707-5aef-453e-9304-4b3d4d855b44-1
00:39:54.081 --> 00:39:57.271
health tech startup does,
but they already have traction and they

542ad707-5aef-453e-9304-4b3d4d855b44-2
00:39:57.271 --> 00:39:59.640
can roll it out to clients all around the
world.

2ceb685d-d871-45d2-95e2-94e7eb2f1337-0
00:39:59.960 --> 00:40:02.240
So that's a strong position to be in.

5ceaf765-0fa3-4bc9-83a2-bf90a82dac5d-0
00:40:02.240 --> 00:40:04.719
Maybe that's a harbinger of M&
A to come,

5ceaf765-0fa3-4bc9-83a2-bf90a82dac5d-1
00:40:04.719 --> 00:40:08.600
but it's interesting to see those
dynamics play off against each other.

e55e0edd-82c9-4b78-a3dd-4f662e27caf7-0
00:40:08.600 --> 00:40:12.520
And I think it's difficult for our
provider clients to choose.

967af38e-3f8e-41b9-b7b5-1ae7c7bdf568-0
00:40:12.520 --> 00:40:16.889
They might want to go to the SME market,
but it's so easy just to expand the

967af38e-3f8e-41b9-b7b5-1ae7c7bdf568-1
00:40:16.889 --> 00:40:19.840
solution set from some of their existing
providers.

366ed809-f737-46f5-a05f-241c54f520e8-0
00:40:20.240 --> 00:40:23.529
So that's another dichotomy in the market
that I think will be very interesting to

366ed809-f737-46f5-a05f-241c54f520e8-1
00:40:23.529 --> 00:40:24.520
watch over the next year.

112da06f-29ff-43a1-9871-26f9986d098f-0
00:40:26.680 --> 00:40:27.400
Thanks, Sarah.

4def6535-8317-42e5-a29d-3489557e13a5-0
00:40:27.400 --> 00:40:31.160
And and Arsenal, as you hear that,
where do you see differences when it

4def6535-8317-42e5-a29d-3489557e13a5-1
00:40:31.160 --> 00:40:33.720
comes to Canada and where some
similarities are?

dfa5073e-7986-411b-8341-19f3f09e3dbf-0
00:40:33.720 --> 00:40:37.450
And in addition,
one of the questions that's from our

dfa5073e-7986-411b-8341-19f3f09e3dbf-1
00:40:37.450 --> 00:40:42.080
audience is around and you alluded to
this data sovereignty issue.

f83c47b9-66d8-446a-af7b-83bf0669ff77-0
00:40:42.360 --> 00:40:45.779
You know,
how did jurisdictions make choices about

f83c47b9-66d8-446a-af7b-83bf0669ff77-1
00:40:45.779 --> 00:40:49.400
AI and other digital system partners in
that context?

09e1ea74-b9d2-4a6a-8f01-f0d99978178d-0
00:40:50.320 --> 00:40:53.713
I, I think to me,
when one thing that's assassinated very

09e1ea74-b9d2-4a6a-8f01-f0d99978178d-1
00:40:53.713 --> 00:40:54.240
relevant.

0b2da071-dbeb-4d9e-a9ed-4f93d40fcfee-0
00:40:54.240 --> 00:40:59.952
I was talking about the challenge around
the adoption right and scaling with a big

0b2da071-dbeb-4d9e-a9ed-4f93d40fcfee-1
00:40:59.952 --> 00:41:01.880
concern when it comes to AI.

6a255807-f83b-49fe-8638-5ec4aac29092-0
00:41:02.600 --> 00:41:08.439
And I think the the report also talks a
little bit more about at at the global

6a255807-f83b-49fe-8638-5ec4aac29092-1
00:41:08.439 --> 00:41:11.840
level, it's, it's the,
the ROI that's coming.

884fdfe6-6a6b-449c-a40a-8d347c7e2ec4-0
00:41:11.920 --> 00:41:17.296
So the investment is going in nobody can
you know challenge that AI is going to

884fdfe6-6a6b-449c-a40a-8d347c7e2ec4-1
00:41:17.296 --> 00:41:21.060
transform the way we live,
the way we perform our jobs,

884fdfe6-6a6b-449c-a40a-8d347c7e2ec4-2
00:41:21.060 --> 00:41:23.480
but are why and where do you invest?

2729ddf2-6287-4c89-bb7c-a354100df02f-0
00:41:23.640 --> 00:41:28.169
It becomes very challenging for Canadian
healthcare organization specifically at

2729ddf2-6287-4c89-bb7c-a354100df02f-1
00:41:28.169 --> 00:41:32.418
the time that perhaps I would ask
Michelle after I'm done around the fiscal

2729ddf2-6287-4c89-bb7c-a354100df02f-2
00:41:32.418 --> 00:41:36.556
pressures that our Health Organization in
Canada are globally people are,

2729ddf2-6287-4c89-bb7c-a354100df02f-3
00:41:36.556 --> 00:41:39.800
but in Canada we are in a in an
interesting time as well.

5427c3b8-c95c-4b35-b11f-fb1e613fe72f-0
00:41:40.040 --> 00:41:45.380
So which then means that the,
how do you organization start moving from

5427c3b8-c95c-4b35-b11f-fb1e613fe72f-1
00:41:45.380 --> 00:41:47.680
expanimation to in debt, right?

8a3778a8-f1bf-4d32-baa6-5e964756480e-0
00:41:47.880 --> 00:41:52.081
And the, the,
the overall one gap that I also see is

8a3778a8-f1bf-4d32-baa6-5e964756480e-1
00:41:52.081 --> 00:41:58.423
that while there is a lot of skills,
there's a lot of knowledge around AI that,

8a3778a8-f1bf-4d32-baa6-5e964756480e-2
00:41:58.423 --> 00:42:02.862
but overall the,
the AI acumen on and the frameworks of

8a3778a8-f1bf-4d32-baa6-5e964756480e-3
00:42:02.862 --> 00:42:08.887
the AI adoption in Canada are a little
behind compared to some of the other

8a3778a8-f1bf-4d32-baa6-5e964756480e-4
00:42:08.887 --> 00:42:09.680
countries.

2b398e97-e50c-4191-9d1f-009d4c963bb3-0
00:42:10.360 --> 00:42:13.600
And I often describe the,
the AI journey in three stages.

1afacfb2-68d5-4cf0-826e-e667ce71da31-0
00:42:14.080 --> 00:42:18.606
The studies starting with productivity
LED AI projects, which are Co pilots,

1afacfb2-68d5-4cf0-826e-e667ce71da31-1
00:42:18.606 --> 00:42:21.840
automation analytics,
these are baseline AI use cases.

d5436ea5-9a09-4257-b13d-86430d3be4ca-0
00:42:22.160 --> 00:42:26.760
Then your capability LED AI initiators,
which are one, one step more involved.

9d690ec8-9697-4d1b-b1da-54064fcf9864-0
00:42:26.800 --> 00:42:31.819
They are R&D, meta diagnostic,
perhaps operational optimization which is

9d690ec8-9697-4d1b-b1da-54064fcf9864-1
00:42:31.819 --> 00:42:33.840
beyond your typical automation.

b8889c2c-cf2e-461d-9d12-f1660d7e839c-0
00:42:34.240 --> 00:42:38.535
And the last one is trust LED AI,
which is clinical disease and support

b8889c2c-cf2e-461d-9d12-f1660d7e839c-1
00:42:38.535 --> 00:42:41.160
patient engagement,
risk bearing use cases.

a1bc5c57-b2bc-4ea8-b379-c0c353063f9b-0
00:42:41.360 --> 00:42:46.720
Stage T3 is where the sophisticated AI is
involved and the benefit comes out.

95d3c7e8-281a-4622-9c95-86f9db962df7-0
00:42:47.040 --> 00:42:51.302
And often when we talk about from a
marketing position or where the AI is

95d3c7e8-281a-4622-9c95-86f9db962df7-1
00:42:51.302 --> 00:42:54.240
heading,
we talk about the trust LED AI use cases.

2f5186f6-4edb-42e6-ba12-ecd1f1ccaa9a-0
00:42:54.640 --> 00:42:58.245
But the reality is in Canada,
we're still stuck in productively E LED

2f5186f6-4edb-42e6-ba12-ecd1f1ccaa9a-1
00:42:58.245 --> 00:42:58.400
AI.

8af89f46-341d-42a7-9e7c-0ec2a8b48681-0
00:42:58.800 --> 00:43:02.686
So a lot of the actual practical work
that we see going on with people are

8af89f46-341d-42a7-9e7c-0ec2a8b48681-1
00:43:02.686 --> 00:43:04.760
looking to scale their protective E LED.

1e6728fb-6f05-4eb5-a934-7e77c861d7a8-0
00:43:05.040 --> 00:43:09.026
So there's this gap between what we
perceive that we want to do or whatever

1e6728fb-6f05-4eb5-a934-7e77c861d7a8-1
00:43:09.026 --> 00:43:11.440
objectives are and where we are stuck,
right.

a3a3c278-826f-4313-8952-63616c9de555-0
00:43:12.280 --> 00:43:14.968
And we're all the,
and I think I'll answer this question

a3a3c278-826f-4313-8952-63616c9de555-1
00:43:14.968 --> 00:43:17.280
around the data barrier that's already in
there.

1ecf3204-1a3d-412b-a7bb-6f64ca1c8fc0-0
00:43:17.280 --> 00:43:20.640
The there are some big barriers like
trust and liability.

5e73ccb6-8693-44a0-a385-2c55d0b06513-0
00:43:21.320 --> 00:43:26.119
Canadian leaders are rightfully cautious
because consumer grade AI is not clinical

5e73ccb6-8693-44a0-a385-2c55d0b06513-1
00:43:26.119 --> 00:43:26.640
grade AI.

dc80a5f8-262f-4166-b5aa-43b90fb3db40-0
00:43:27.400 --> 00:43:32.932
But the tolerance for error is extremely
low in a publicly countable system,

dc80a5f8-262f-4166-b5aa-43b90fb3db40-1
00:43:32.932 --> 00:43:35.160
which is very unique in Canada.

76f6823a-bf14-47d7-87d9-2f9b90cd4ca7-0
00:43:35.160 --> 00:43:40.344
And obviously as you know you,
you compare across geographies where it

76f6823a-bf14-47d7-87d9-2f9b90cd4ca7-1
00:43:40.344 --> 00:43:43.120
is similar, the scrutiny is on a high.

6be9318b-b663-4256-8eb5-8d3de48270ac-0
00:43:43.960 --> 00:43:46.120
Data fragmentation is another barrier.

1fc33fc5-cd7f-47e9-b0ef-730acbc0578c-0
00:43:46.920 --> 00:43:49.160
Obviously AI is as good as data
foundation.

d4104fce-bce5-44af-bc3b-580d9eb609ac-0
00:43:49.760 --> 00:43:54.451
Sarah talked about it at a lower level,
but in Canada it's even more complex with,

d4104fce-bce5-44af-bc3b-580d9eb609ac-1
00:43:54.451 --> 00:43:56.995
you know,
they are sitting across hospitals,

d4104fce-bce5-44af-bc3b-580d9eb609ac-2
00:43:56.995 --> 00:44:01.234
across provinces providers system making
scaling hard, but not impossible,

d4104fce-bce5-44af-bc3b-580d9eb609ac-3
00:44:01.234 --> 00:44:01.800
obviously.

fababcbf-337f-4311-8f67-2201513673fe-0
00:44:02.000 --> 00:44:05.432
And the governance and accountability
where the,

fababcbf-337f-4311-8f67-2201513673fe-1
00:44:05.432 --> 00:44:10.476
the whole data sovereignty comes into the
mix is another challenge and,

fababcbf-337f-4311-8f67-2201513673fe-2
00:44:10.476 --> 00:44:15.029
and which restricts the Canadian
organizations and, and overall,

fababcbf-337f-4311-8f67-2201513673fe-3
00:44:15.029 --> 00:44:18.671
maybe if I summarize this,
I think the part of the,

fababcbf-337f-4311-8f67-2201513673fe-4
00:44:18.671 --> 00:44:23.015
the guidance that we are providing the
organizations that in,

fababcbf-337f-4311-8f67-2201513673fe-5
00:44:23.015 --> 00:44:27.918
in this lack of governance,
individual frameworks of an organization,

fababcbf-337f-4311-8f67-2201513673fe-6
00:44:27.918 --> 00:44:29.880
AI frameworks are important.

740c8cd9-eaa1-4dfa-9999-e575467a5182-0
00:44:30.240 --> 00:44:33.701
And AI framework is not really about just
making AI perfect,

740c8cd9-eaa1-4dfa-9999-e575467a5182-1
00:44:33.701 --> 00:44:35.120
because it's not perfect.

969922bd-1873-4622-b22c-5993dbf34d17-0
00:44:35.520 --> 00:44:40.160
It's about understanding where the risk
is and making a correct decision.

16fcf68d-d949-4ba4-b3a6-01d99c698b4e-0
00:44:40.160 --> 00:44:42.120
And how are you going to handle those
risks?

f61ba1fa-e53c-4198-9abd-097a538f05e1-0
00:44:42.280 --> 00:44:46.864
So do you need to have data sovereignty
for every single AI use case or only for

f61ba1fa-e53c-4198-9abd-097a538f05e1-1
00:44:46.864 --> 00:44:47.600
the use case?

614526dc-9a28-48f6-9fcb-af8e6b1ae7fd-0
00:44:47.600 --> 00:44:50.840
There are trust LED code to the same
thing.

d1720d50-ccf1-4726-a276-53d81c3b3e11-0
00:44:51.200 --> 00:44:55.560
Having that flexibility in your AI
framework is critical for scalability.

86241a25-e1d0-4ca6-933c-519cf10457a2-0
00:44:57.680 --> 00:45:01.486
Arsena, you know,
the I'll add to your and Sarah's comments

86241a25-e1d0-4ca6-933c-519cf10457a2-1
00:45:01.486 --> 00:45:04.722
on this,
this AI use case perspective as you could

86241a25-e1d0-4ca6-933c-519cf10457a2-2
00:45:04.722 --> 00:45:06.880
think about the workforce as well.

be57d085-5654-43f7-a5e6-d36a0e6844b4-0
00:45:07.200 --> 00:45:10.426
You know,
thinking about as a physician myself,

be57d085-5654-43f7-a5e6-d36a0e6844b4-1
00:45:10.426 --> 00:45:13.854
you know,
prioritizing AI where clinicians feel it

be57d085-5654-43f7-a5e6-d36a0e6844b4-2
00:45:13.854 --> 00:45:17.416
first and this idea of use of ambient
documentation,

be57d085-5654-43f7-a5e6-d36a0e6844b4-3
00:45:17.416 --> 00:45:22.458
clinical agents admit you automatic
automation where it helps make the job

be57d085-5654-43f7-a5e6-d36a0e6844b4-4
00:45:22.458 --> 00:45:26.760
easier and focus on the needs that
consumers and patients have.

d58905cd-1099-4a52-9815-5a8244b520ff-0
00:45:27.880 --> 00:45:29.600
And then how do you measure success?

8287fe73-0b1c-48a1-97e3-49c2df435e7f-0
00:45:29.880 --> 00:45:33.325
And one of the things we recently
published on was the tech value gap,

8287fe73-0b1c-48a1-97e3-49c2df435e7f-1
00:45:33.325 --> 00:45:36.480
this idea of measuring success and doing
it in the right places.

86c4c9ad-bba1-47b5-b57b-bef13b74e061-0
00:45:36.480 --> 00:45:40.931
So I one of the things I think about is
also care models and it and it goes to

86c4c9ad-bba1-47b5-b57b-bef13b74e061-1
00:45:40.931 --> 00:45:44.200
the question, you know,
that was also put that in my eye.

9f90c76d-c6f4-4180-b34d-3c09fd7a4a08-0
00:45:44.200 --> 00:45:47.646
So Michelle,
you can comment on what you see in terms

9f90c76d-c6f4-4180-b34d-3c09fd7a4a08-1
00:45:47.646 --> 00:45:52.050
of care hybrid care models and approaches
in Canada to primary care,

9f90c76d-c6f4-4180-b34d-3c09fd7a4a08-2
00:45:52.050 --> 00:45:55.880
commute care in the community and
technology as an enabler.

4ed205fd-ec68-423a-83be-458da5d973c6-0
00:45:55.880 --> 00:45:58.382
And then Sarah and Europe,
you mean perspective,

4ed205fd-ec68-423a-83be-458da5d973c6-1
00:45:58.382 --> 00:46:00.680
but what you're seeing in that regard
there?

a0fe36ad-d2a3-43af-b724-29206d2d1c93-0
00:46:03.760 --> 00:46:04.960
Yeah, I think so.

369b7a4d-ee18-4c22-89ca-412660caab29-0
00:46:05.120 --> 00:46:10.669
I think hybrid care models is a
continuing priority for for many of the

369b7a4d-ee18-4c22-89ca-412660caab29-1
00:46:10.669 --> 00:46:11.440
provinces.

982728d1-999b-4310-aec7-18a2551e6eca-0
00:46:12.560 --> 00:46:17.240
There are some that believe in kind of
digital first, but not digital only.

a559f802-c470-4691-b789-08b43a0f7a80-0
00:46:17.680 --> 00:46:23.760
And then how do you embed that into
models so physicians and clinicians are

a559f802-c470-4691-b789-08b43a0f7a80-1
00:46:23.760 --> 00:46:25.760
appropriately reimbursed.

fe1041b8-e76f-4a51-8b0d-0b603d024806-0
00:46:25.760 --> 00:46:28.553
So I think,
I do think a lot of those conversations

fe1041b8-e76f-4a51-8b0d-0b603d024806-1
00:46:28.553 --> 00:46:29.520
and are under way.

5779f1d5-e589-4713-956b-f54bbbc02d92-0
00:46:29.520 --> 00:46:36.131
I think the reality of the situation is
again as highlighted by the report,

5779f1d5-e589-4713-956b-f54bbbc02d92-1
00:46:36.131 --> 00:46:40.306
we are,
we are faced by a significant workforce

5779f1d5-e589-4713-956b-f54bbbc02d92-2
00:46:40.306 --> 00:46:43.960
challenge and and significant constraints.

1b271788-bfc1-4cd8-8d26-8472c4075386-0
00:46:44.920 --> 00:46:51.926
The question also has come up, you know,
what part of the value chain, you know,

1b271788-bfc1-4cd8-8d26-8472c4075386-1
00:46:51.926 --> 00:46:58.500
from entering the system through to
navigation through to triage and actual

1b271788-bfc1-4cd8-8d26-8472c4075386-2
00:46:58.500 --> 00:47:01.960
care delivery can AI or digital support?

7feff65f-18a6-4cc7-a62a-1f30a339aabe-0
00:47:03.040 --> 00:47:06.194
And I, I think the, the question of,
you know, when do you,

7feff65f-18a6-4cc7-a62a-1f30a339aabe-1
00:47:06.194 --> 00:47:08.560
when do you really need a human in the
loop?

374e7bdf-d415-40ae-b5f3-12a08a876d98-0
00:47:08.560 --> 00:47:09.640
Is, is really key.

ce95ceea-568e-4656-9803-cf032482762e-0
00:47:11.120 --> 00:47:17.451
So I think what we're seeing is, you know,
opportunities to fast track some of the,

ce95ceea-568e-4656-9803-cf032482762e-1
00:47:17.451 --> 00:47:23.103
I would say digital first innovations
that support workforce challenges or

ce95ceea-568e-4656-9803-cf032482762e-2
00:47:23.103 --> 00:47:27.400
scarcity of workforce,
but supported by evidence, right?

558782a2-08df-42f8-9bc7-ccfb778393cc-0
00:47:27.400 --> 00:47:30.880
So I think the evidence generation piece
is really, really key.

e96faa76-792f-4a22-9b7c-8a1918e00547-0
00:47:31.880 --> 00:47:37.338
I think there's opportunity to look at
fee schedules and look at where digital

e96faa76-792f-4a22-9b7c-8a1918e00547-1
00:47:37.338 --> 00:47:42.727
supports can play a role all in service
to reducing administrative burden for

e96faa76-792f-4a22-9b7c-8a1918e00547-2
00:47:42.727 --> 00:47:47.080
physicians and clinicians not to take
time away from patients.

65b1c050-8ac8-4547-99f2-082cbee31637-0
00:47:47.080 --> 00:47:49.280
So I think that's obviously a clear
delineation.

700afb2a-7b53-4981-9dd8-49abba8a8693-0
00:47:49.280 --> 00:47:54.136
I think the topic of productivity was
both sailing and the report it continues

700afb2a-7b53-4981-9dd8-49abba8a8693-1
00:47:54.136 --> 00:47:58.931
to come up in our conversations with
clients is how can we use digital and AI

700afb2a-7b53-4981-9dd8-49abba8a8693-2
00:47:58.931 --> 00:48:03.910
as as a leverage point to help physicians
and clinicians do the things that they

700afb2a-7b53-4981-9dd8-49abba8a8693-3
00:48:03.910 --> 00:48:06.800
want to do,
more of which is support patients.

c217d41f-1c86-49da-ba27-997261007de1-0
00:48:07.160 --> 00:48:13.187
And I think the reality of the situation
is we have less clinicians today focusing

c217d41f-1c86-49da-ba27-997261007de1-1
00:48:13.187 --> 00:48:17.979
on a population that is older,
faces more complex and and chronic

c217d41f-1c86-49da-ba27-997261007de1-2
00:48:17.979 --> 00:48:21.320
disease burden and it just takes them
longer.

41a040ec-fb39-4db4-93a6-12bae1b7d4a0-0
00:48:22.320 --> 00:48:23.720
So it's not in many cases.

f3f0c3ed-93b6-48fb-aeff-36d183b77b6a-0
00:48:23.720 --> 00:48:27.120
And I know the CMA did a study that
they're seeing less patients.

01bcde76-5958-4ef5-98a3-2638363e0de2-0
00:48:27.120 --> 00:48:30.880
It's just that the complexity of of that
of that patient base has gone up.

cce43fcd-1b89-48ba-8c70-e0885d6ca217-0
00:48:31.640 --> 00:48:36.176
So I think it's kind of a it has to be a
multi factored approach in terms of how

cce43fcd-1b89-48ba-8c70-e0885d6ca217-1
00:48:36.176 --> 00:48:38.640
we make sure that we support hybrid
models.

97634fbb-eaf2-47c5-a2bb-4b4f6fe7fa58-0
00:48:39.720 --> 00:48:43.160
But lots of work I think ongoing there in
in different provinces.

4c3f84fa-89c6-45fe-8c74-20a4ba942b33-0
00:48:45.280 --> 00:48:45.920
Super interesting.

9de71bc1-247c-4cad-8240-435636a9a12e-0
00:48:47.040 --> 00:48:48.720
Yeah, Yeah.

0f2b2451-9731-434d-8931-bc03763e5ccf-0
00:48:48.760 --> 00:48:51.400
I would say lots of stuff happening in
the world over.

c79707d3-9e23-4009-95f0-fcea1e741dfb-0
00:48:51.400 --> 00:48:56.256
Like we have a lot of virtual care
options now in most countries around the

c79707d3-9e23-4009-95f0-fcea1e741dfb-1
00:48:56.256 --> 00:48:56.640
world.

22859ff5-e6b3-4ae8-b4a9-8050c157c57f-0
00:48:56.880 --> 00:48:58.886
We shifted a lot years back when we had
to,

22859ff5-e6b3-4ae8-b4a9-8050c157c57f-1
00:48:58.886 --> 00:49:01.440
to lots of different virtual care options
during COVID.

ac8b10e8-2e43-4b5e-b223-e0a024479180-0
00:49:01.480 --> 00:49:03.680
There's been some shift back,
some has stuck.

1c47f7fa-4770-4211-8502-1d12748bf9df-0
00:49:04.040 --> 00:49:07.965
Some countries like Germany really still
have incentivization for in person models

1c47f7fa-4770-4211-8502-1d12748bf9df-1
00:49:07.965 --> 00:49:10.520
and plenty of doctors, which is unusual,
but they do.

0b110446-3089-4ee3-97f2-95a8226f03ee-0
00:49:11.600 --> 00:49:14.840
So that remains a little sticky in terms
of the in person culture.

568d20bb-7e2a-48f7-aafc-6e7d7966e0e8-0
00:49:15.240 --> 00:49:19.080
Then we see a lot of countries building
different technologies.

186cb3f9-9bf6-40aa-a585-fef68c4e5de9-0
00:49:19.080 --> 00:49:22.469
I'm in Qatar today where they're building
what they call a super app,

186cb3f9-9bf6-40aa-a585-fef68c4e5de9-1
00:49:22.469 --> 00:49:25.520
which is meant to be the front door for
all patient interface.

2ef1a132-4b99-4ed4-9b9e-1e620b6af539-0
00:49:25.520 --> 00:49:27.952
They're all,
they're also creating one phone number

2ef1a132-4b99-4ed4-9b9e-1e620b6af539-1
00:49:27.952 --> 00:49:31.040
which will triage patients to any part of
the healthcare service.

36b8f7fb-a83e-4062-b3d8-fd2aa91f0571-0
00:49:31.400 --> 00:49:34.320
So lots of big kind of virtual care
options.

2e1593ff-31a7-4c2c-9477-ef254a4698e3-0
00:49:34.800 --> 00:49:38.966
I would also reflect back to Jay's
comments about the JP Morgan conference

2e1593ff-31a7-4c2c-9477-ef254a4698e3-1
00:49:38.966 --> 00:49:42.800
that he and I were at in California that
last week, the week before.

6f5660e5-3430-45cb-8972-6a2218c28392-0
00:49:43.360 --> 00:49:47.160
Very optimistic place is how I would
characteristic characterize it Jay.

815475a5-35a9-4209-abb8-0eae5d4e1566-0
00:49:48.040 --> 00:49:53.101
But so many interesting sparky health
tech startups with different kind of

815475a5-35a9-4209-abb8-0eae5d4e1566-1
00:49:53.101 --> 00:49:58.028
virtual care, AI enablement options,
lots of different pop health tools,

815475a5-35a9-4209-abb8-0eae5d4e1566-2
00:49:58.028 --> 00:50:01.807
ways to get sort of in front of
symptomatic healthcare,

815475a5-35a9-4209-abb8-0eae5d4e1566-3
00:50:01.807 --> 00:50:04.440
which I would just love to see more of.

675b66fb-fc22-41d0-b896-f82509a4fc81-0
00:50:04.440 --> 00:50:09.392
And I'd love to see more freed up time in
primary and community care to look across

675b66fb-fc22-41d0-b896-f82509a4fc81-1
00:50:09.392 --> 00:50:12.400
the population and try to triage
prophylactically.

443a9c44-0191-457c-b65e-b8acc3f2b60a-0
00:50:12.400 --> 00:50:15.401
So it was a very yeah,
it's a very optimistic couple of days

443a9c44-0191-457c-b65e-b8acc3f2b60a-1
00:50:15.401 --> 00:50:17.320
would be my very quick summary of that.

7a17f9f5-4088-4a4d-bb69-9820e988fca5-0
00:50:17.320 --> 00:50:18.600
Jay, I'm sure you can add more.

0d5b5916-bea1-4e66-9136-6b7e1ae4fd99-0
00:50:19.920 --> 00:50:22.713
Yeah,
I think there was a lot of optimism

0d5b5916-bea1-4e66-9136-6b7e1ae4fd99-1
00:50:22.713 --> 00:50:27.236
partly because, you know,
I think it wasn't raining and the sun was

0d5b5916-bea1-4e66-9136-6b7e1ae4fd99-2
00:50:27.236 --> 00:50:30.562
out and,
and people who just really appreciate it

0d5b5916-bea1-4e66-9136-6b7e1ae4fd99-3
00:50:30.562 --> 00:50:31.560
being together.

d418e2b9-8030-450d-806c-13919bda6d0c-0
00:50:31.560 --> 00:50:35.727
I think in a time where there's I think
this goes back to what we said earlier,

d418e2b9-8030-450d-806c-13919bda6d0c-1
00:50:35.727 --> 00:50:36.040
right?

a99fd568-78f9-420e-9bd7-b2743194b5c3-0
00:50:36.040 --> 00:50:42.204
Like this idea that there's a lot of ways
that this the industry sees an

a99fd568-78f9-420e-9bd7-b2743194b5c3-1
00:50:42.204 --> 00:50:46.680
opportunity,
but it's managing it and navigating it.

45710368-c058-4157-871e-7090dec5162e-0
00:50:47.240 --> 00:50:51.698
And what are the opportunities to have
strategic targeted collaborations to

45710368-c058-4157-871e-7090dec5162e-1
00:50:51.698 --> 00:50:55.160
advance, you know,
the priorities that organizations have?

ccb0cd1c-6f5d-4ece-b1ee-db2916cf69aa-0
00:50:55.160 --> 00:50:59.691
And I think, you know,
what I would say from a healthcare

ccb0cd1c-6f5d-4ece-b1ee-db2916cf69aa-1
00:50:59.691 --> 00:51:03.206
standpoint, there is this idea of,
you know,

ccb0cd1c-6f5d-4ece-b1ee-db2916cf69aa-2
00:51:03.206 --> 00:51:06.799
performing and transforming at the same
time.

8b22d950-7509-4edc-931f-6e22ca2190e9-0
00:51:06.800 --> 00:51:11.560
So do you stabilize and manage costs and
chase transformation?

2e1b6223-40bc-45e6-810d-2da20bed3db3-0
00:51:11.560 --> 00:51:14.507
And,
and this idea of the transformation kind

2e1b6223-40bc-45e6-810d-2da20bed3db3-1
00:51:14.507 --> 00:51:19.505
of is always on and it's how you manage
and where you prioritize it to happen

2e1b6223-40bc-45e6-810d-2da20bed3db3-2
00:51:19.505 --> 00:51:24.760
towards your growth strategy and asset
strategy as a growth lever, not a retreat.

e1a17e35-6a99-4142-8bbb-dfc9cbd68d90-0
00:51:25.480 --> 00:51:30.480
What are your strategic capabilities that
you want to deploy and use?

b11229be-3f66-4817-b4d8-a93712376957-0
00:51:30.480 --> 00:51:34.305
And so one of the other things to the
whole AI conversation that we talked

b11229be-3f66-4817-b4d8-a93712376957-1
00:51:34.305 --> 00:51:37.977
about is there isn't evidence necessary
of an AI bubble and healthcare,

b11229be-3f66-4817-b4d8-a93712376957-2
00:51:37.977 --> 00:51:41.038
which folks talk about,
but that the deployments, you know,

b11229be-3f66-4817-b4d8-a93712376957-3
00:51:41.038 --> 00:51:44.914
people were sharing examples that
deployments that are enterprise grade and

b11229be-3f66-4817-b4d8-a93712376957-4
00:51:44.914 --> 00:51:47.719
ROI linked are the ones that are going to
win the day.

d25b4a6f-ccd0-413b-9b5a-5c1c014280fe-0
00:51:47.720 --> 00:51:52.154
And when we think about LLMS and where
they shift 2 for monolithic LMS,

d25b4a6f-ccd0-413b-9b5a-5c1c014280fe-1
00:51:52.154 --> 00:51:57.082
a specialist domain trained in a genetic
systems and what we alluded to earlier

d25b4a6f-ccd0-413b-9b5a-5c1c014280fe-2
00:51:57.082 --> 00:52:01.455
that safety, responsibility,
reproducibility and governance, you know,

d25b4a6f-ccd0-413b-9b5a-5c1c014280fe-3
00:52:01.455 --> 00:52:04.720
they are buying criteria,
they're not afterthoughts.

4e222fa9-9413-43ed-92d1-2939ba39bf0c-0
00:52:04.720 --> 00:52:09.390
That's it's part of what you have to
think of in your strategy and

4e222fa9-9413-43ed-92d1-2939ba39bf0c-1
00:52:09.390 --> 00:52:14.200
implementation as you move forward in a
more complex AI environment.

ac929848-fb3d-4c71-a252-76be3f4aa721-0
00:52:14.200 --> 00:52:18.320
So, but I want to see here,
I know we've got a few minutes left.

b1cd1de7-f8ff-4297-a68e-d65c050040a7-0
00:52:18.320 --> 00:52:22.217
So we just would love closing reflections,
you know,

b1cd1de7-f8ff-4297-a68e-d65c050040a7-1
00:52:22.217 --> 00:52:26.996
about what you see that's you're really
excited about in Canada,

b1cd1de7-f8ff-4297-a68e-d65c050040a7-2
00:52:26.996 --> 00:52:30.747
Arsalan and and Michelle and then Sarah,
you know,

b1cd1de7-f8ff-4297-a68e-d65c050040a7-3
00:52:30.747 --> 00:52:35.600
in Europe and and Asia Pacific in terms
of any of the trends and,

b1cd1de7-f8ff-4297-a68e-d65c050040a7-4
00:52:35.600 --> 00:52:37.880
and issues we've covered today.

72a29913-1cfb-4f58-9628-2f60a50b6238-0
00:52:38.640 --> 00:52:40.520
So Arsalan, we'll start with with you.

3cda9a95-5cfe-49e4-a35d-f13851c4e24f-0
00:52:41.520 --> 00:52:44.502
Maybe I'll,
because I talked about a lot of concerns,

3cda9a95-5cfe-49e4-a35d-f13851c4e24f-1
00:52:44.502 --> 00:52:46.160
a lot of challenges around AI.

c075e615-b9f6-45ed-98c9-208335f75459-0
00:52:46.160 --> 00:52:49.839
So maybe, but you know,
maybe I'll leave it on a more optimistic

c075e615-b9f6-45ed-98c9-208335f75459-1
00:52:49.839 --> 00:52:53.121
side that I, I,
when I look at the Canadian organization,

c075e615-b9f6-45ed-98c9-208335f75459-2
00:52:53.121 --> 00:52:56.517
the healthcare organization and the work
that we are doing,

c075e615-b9f6-45ed-98c9-208335f75459-3
00:52:56.517 --> 00:53:00.649
there is a lot of optimism, right,
that we are designing at least the AI

c075e615-b9f6-45ed-98c9-208335f75459-4
00:53:00.649 --> 00:53:04.838
more deliberately given all the
challenges and the lack of the frameworks

c075e615-b9f6-45ed-98c9-208335f75459-5
00:53:04.838 --> 00:53:07.837
that we have,
which then means that we are embedding

c075e615-b9f6-45ed-98c9-208335f75459-6
00:53:07.837 --> 00:53:11.800
explain ability privacy and clinical
validation right from the start.

88c0dd17-850d-44cc-82a4-59e9c3cf6b09-0
00:53:12.040 --> 00:53:15.137
So while it seems slow and it is slow,
right,

88c0dd17-850d-44cc-82a4-59e9c3cf6b09-1
00:53:15.137 --> 00:53:18.840
but it positions Canada well for
sustainable adoption.

bf87c821-afa1-474f-983a-f00c8d12e60d-0
00:53:19.160 --> 00:53:23.247
And, and then Deloitte,
our overall mantra for AI advancement is

bf87c821-afa1-474f-983a-f00c8d12e60d-1
00:53:23.247 --> 00:53:28.278
that having used cases versus used cases
and that brings more confidence to our

bf87c821-afa1-474f-983a-f00c8d12e60d-2
00:53:28.278 --> 00:53:30.919
clients, which allows them to move faster.

8a3d0e50-0ec3-4217-b9ae-c914fff76038-0
00:53:34.240 --> 00:53:38.741
Yeah, I think, you know,
the one thing that that certainly

8a3d0e50-0ec3-4217-b9ae-c914fff76038-1
00:53:38.741 --> 00:53:44.235
resonated in the the report was how
leaders remain optimistic about the

8a3d0e50-0ec3-4217-b9ae-c914fff76038-2
00:53:44.235 --> 00:53:49.805
future, which I think is, is, you know,
the sentiment we feel in Canada,

8a3d0e50-0ec3-4217-b9ae-c914fff76038-3
00:53:49.805 --> 00:53:51.560
despite how hard it is.

109f7f78-ef50-40f9-bcac-a6f9f955c652-0
00:53:51.560 --> 00:53:55.906
Like we we,
there is a ton of pressure on budgets

109f7f78-ef50-40f9-bcac-a6f9f955c652-1
00:53:55.906 --> 00:54:00.165
right now,
but a ton of pressure to improve and,

109f7f78-ef50-40f9-bcac-a6f9f955c652-2
00:54:00.165 --> 00:54:02.600
and produce better outcomes.

7322bfe4-9a56-4020-a979-e216703fdfc2-0
00:54:04.320 --> 00:54:07.890
And, you know,
maybe the report doesn't mention it

7322bfe4-9a56-4020-a979-e216703fdfc2-1
00:54:07.890 --> 00:54:11.320
explicitly,
but now is the time for investing in

7322bfe4-9a56-4020-a979-e216703fdfc2-2
00:54:11.320 --> 00:54:16.080
leadership and execution capacity to get
through this messy middle.

c7e31c4e-be2f-4b39-9eda-7562a066b296-0
00:54:17.400 --> 00:54:24.000
And I do think there's an opportunity for
us to leverage the best of one another.

35cd5745-2d46-4685-9902-f67f7bdd7f52-0
00:54:24.000 --> 00:54:29.304
And, and by that I mean, looking across,
you know, not just the public sector,

35cd5745-2d46-4685-9902-f67f7bdd7f52-1
00:54:29.304 --> 00:54:34.474
but looking at the agility of the private
sector and how that can reinforce,

35cd5745-2d46-4685-9902-f67f7bdd7f52-2
00:54:34.474 --> 00:54:39.040
you know, support in, in public stability,
public sector stability.

59e16623-f3fc-4562-b1ea-8fc222354508-0
00:54:39.760 --> 00:54:44.477
And I think there are and you know,
I don't know how much time we have Sarah,

59e16623-f3fc-4562-b1ea-8fc222354508-1
00:54:44.477 --> 00:54:47.319
but I was thinking about our,
our kind of our,

59e16623-f3fc-4562-b1ea-8fc222354508-2
00:54:47.319 --> 00:54:50.282
our smart health play globally around,
you know,

59e16623-f3fc-4562-b1ea-8fc222354508-3
00:54:50.282 --> 00:54:52.943
how we're sharing in risk with our
clients,

59e16623-f3fc-4562-b1ea-8fc222354508-4
00:54:52.943 --> 00:54:57.600
how we're self funding or self investing
and not, you know, seeking payment,

59e16623-f3fc-4562-b1ea-8fc222354508-5
00:54:57.600 --> 00:55:00.080
so to speak until we deliver on outcomes.

d93d04cf-bc78-4c8c-bd36-2e87a1ee9946-0
00:55:00.840 --> 00:55:06.227
So I think there are some unique creative
disruptive partnerships that can happen

d93d04cf-bc78-4c8c-bd36-2e87a1ee9946-1
00:55:06.227 --> 00:55:11.680
in market despite some of the challenges
in particular universal pair systems such

d93d04cf-bc78-4c8c-bd36-2e87a1ee9946-2
00:55:11.680 --> 00:55:12.600
as ours faces.

1722d114-a841-449d-9565-cdf3a9fa4170-0
00:55:13.720 --> 00:55:17.530
The other thing I would say is there was
a question around, you know,

1722d114-a841-449d-9565-cdf3a9fa4170-1
00:55:17.530 --> 00:55:21.069
how do we get this right across various
systems, federal system,

1722d114-a841-449d-9565-cdf3a9fa4170-2
00:55:21.069 --> 00:55:24.880
provincial systems and then down to kind
of the local provider level.

c2ec8786-5821-4610-8203-5f2501b2303a-0
00:55:26.360 --> 00:55:29.222
And it all depends I think on your
philosophy of what, you know,

c2ec8786-5821-4610-8203-5f2501b2303a-1
00:55:29.222 --> 00:55:31.600
the role of the federal government here
is in Canada.

06ceb4e9-6975-458e-a096-7fac42d834a8-0
00:55:32.040 --> 00:55:35.440
But at the minimum it needs to anchor
clarity.

e005bccf-cf19-46ac-8673-f80a11345a38-0
00:55:35.640 --> 00:55:39.620
It can't set up parallel systems that
that you know,

e005bccf-cf19-46ac-8673-f80a11345a38-1
00:55:39.620 --> 00:55:43.000
don't seem to don't that don't seem to
work.

00d07709-a7ff-407a-b6f0-6811b3b90e45-0
00:55:43.760 --> 00:55:49.907
So I think clear policy direction from
the federal government on the regulatory

00d07709-a7ff-407a-b6f0-6811b3b90e45-1
00:55:49.907 --> 00:55:55.747
side with input from provincial systems
on that policy framework direction,

00d07709-a7ff-407a-b6f0-6811b3b90e45-2
00:55:55.747 --> 00:55:58.360
it's going to be really important.

2c7ae6c6-b677-4444-ab56-47a9aa01f06d-0
00:55:58.360 --> 00:56:03.245
And I think alignment across then the
policy procurement and change management

2c7ae6c6-b677-4444-ab56-47a9aa01f06d-1
00:56:03.245 --> 00:56:06.400
because that is going to be a key enabler
success.

eed7b42e-eebe-41b6-bfc0-6ea7be792a24-0
00:56:07.080 --> 00:56:10.400
I think that level of a framework is what
we need to to move forward.

828f9401-5f95-499b-8281-48f367746d03-0
00:56:10.400 --> 00:56:14.880
And I think all levels need to be engaged
in what that framework looks like.

7b0556aa-1c05-47c0-b05b-cf8cc5c38548-0
00:56:14.880 --> 00:56:17.640
And then it's just a question of solid
execution.

6253bf1f-eac9-47c8-9d2e-3d37ca7371e1-0
00:56:17.640 --> 00:56:20.964
So lots more conversations,
lots more convening,

6253bf1f-eac9-47c8-9d2e-3d37ca7371e1-1
00:56:20.964 --> 00:56:26.257
but I think we need that that clarity and
that anchor in order for us to move

6253bf1f-eac9-47c8-9d2e-3d37ca7371e1-2
00:56:26.257 --> 00:56:26.799
forward.

71c443dd-e90d-4cd5-8365-a1c0cd98cb09-0
00:56:29.560 --> 00:56:30.080
Thank you.

d3121c74-90ce-477f-9a7b-4956710db28e-0
00:56:30.200 --> 00:56:33.205
Our son Michelle and Sarah,
we'll have you share any closing

d3121c74-90ce-477f-9a7b-4956710db28e-1
00:56:33.205 --> 00:56:34.240
reflections you have.

9f5348cb-3be0-49b3-a536-91ac3c00fbc4-0
00:56:35.120 --> 00:56:35.440
Sure.

c9e3be2a-82b5-4589-b4e5-33f46728a6a4-0
00:56:35.440 --> 00:56:39.487
So I guess taking a step back,
this is my third year of going out to the

c9e3be2a-82b5-4589-b4e5-33f46728a6a4-1
00:56:39.487 --> 00:56:43.091
market for this survey,
seeing when it comes back and then being

c9e3be2a-82b5-4589-b4e5-33f46728a6a4-2
00:56:43.091 --> 00:56:44.200
thoughtful about it.

89c274f2-0ab8-471f-89b1-ca87e0526dfb-0
00:56:44.560 --> 00:56:48.752
And I have to say, you know,
as as the years have gone by,

89c274f2-0ab8-471f-89b1-ca87e0526dfb-1
00:56:48.752 --> 00:56:54.438
I can stand here today looking back and
say never until this point in time have

89c274f2-0ab8-471f-89b1-ca87e0526dfb-2
00:56:54.438 --> 00:56:59.981
we spent so much time with our big tech
hyperscaler partners putting together

89c274f2-0ab8-471f-89b1-ca87e0526dfb-3
00:56:59.981 --> 00:57:05.879
complex deals to try to really accelerate
digitization for our healthcare clients.

c5b0bab1-11d8-4898-b618-9918194635b2-0
00:57:06.360 --> 00:57:09.965
And similarly,
at no point up until today have there

c5b0bab1-11d8-4898-b618-9918194635b2-1
00:57:09.965 --> 00:57:15.134
been as many exciting solutions and
offers in the market for our healthcare

c5b0bab1-11d8-4898-b618-9918194635b2-2
00:57:15.134 --> 00:57:18.399
clients from all manner of different
companies.

7b60023e-e151-464c-8547-475e3d4187c0-0
00:57:19.920 --> 00:57:24.968
And I would also say, you know,
at no point up until now has, you know,

7b60023e-e151-464c-8547-475e3d4187c0-1
00:57:24.968 --> 00:57:30.437
government and health system leadership
and as interested as they are now and

7b60023e-e151-464c-8547-475e3d4187c0-2
00:57:30.437 --> 00:57:31.840
supporting adoption.

5e74622e-44cf-4e36-ac5d-41ef0f91b2db-0
00:57:32.280 --> 00:57:36.243
And I know we're running short on time,
but just to give, you know,

5e74622e-44cf-4e36-ac5d-41ef0f91b2db-1
00:57:36.243 --> 00:57:41.081
one example from for you if Jay, you know,
we've been supporting the FDA with this

5e74622e-44cf-4e36-ac5d-41ef0f91b2db-2
00:57:41.081 --> 00:57:44.811
Elsa tool to speed approvals,
which is being used, I'm told by,

5e74622e-44cf-4e36-ac5d-41ef0f91b2db-3
00:57:44.811 --> 00:57:46.560
you know, 12,000 people daily.

95fe014b-9196-46fd-b5f2-cf73fb076de4-0
00:57:46.840 --> 00:57:51.188
So when we put tools in place to help
speed adoption, you know,

95fe014b-9196-46fd-b5f2-cf73fb076de4-1
00:57:51.188 --> 00:57:52.480
it really can work.

80e446c9-2530-4877-867a-271b2154fd57-0
00:57:52.480 --> 00:57:55.821
And so back to Michelle's point and the
report's point about optimism,

80e446c9-2530-4877-867a-271b2154fd57-1
00:57:55.821 --> 00:57:58.880
it really does feel like we have so much
more at our fingertips.

61be7742-54e5-4c17-a3fe-63d9256fb742-0
00:57:58.880 --> 00:58:01.920
But like all big change,
it won't come down to the tech,

61be7742-54e5-4c17-a3fe-63d9256fb742-1
00:58:01.920 --> 00:58:03.520
it'll come down to the people.

2793c4a4-4811-42a6-a2bb-5c7736ee21ba-0
00:58:03.640 --> 00:58:05.560
And our health systems are 70% people.

b5d6c56c-fe0f-440e-a819-61c4061512c8-0
00:58:05.560 --> 00:58:08.240
So that's,
that's what it all comes down to.

6eecc22b-4c6d-46b8-99c7-a4bdc9edd9d4-0
00:58:09.960 --> 00:58:11.720
Thank you for such valuable perspectives.

baa5e86d-6997-4b19-b2aa-a51211d92008-0
00:58:11.720 --> 00:58:16.516
I'll just round it up by saying, you know,
the people will drive the innovation,

baa5e86d-6997-4b19-b2aa-a51211d92008-1
00:58:16.516 --> 00:58:19.240
the strategy,
the process and the technology.

c0c95eeb-67ab-4810-9e48-f9b56861202a-0
00:58:19.240 --> 00:58:22.744
And so it's anchored in, you know,
the skills that we develop,

c0c95eeb-67ab-4810-9e48-f9b56861202a-1
00:58:22.744 --> 00:58:25.860
the experiences,
the kinds of outside the box thinking,

c0c95eeb-67ab-4810-9e48-f9b56861202a-2
00:58:25.860 --> 00:58:30.199
So thinking even beyond the walls of your
your environment about the kinds of

c0c95eeb-67ab-4810-9e48-f9b56861202a-3
00:58:30.199 --> 00:58:33.760
collaborators you have and the problems
you're trying to solve.

27164d4d-2ac4-4b75-b27a-49c642675616-0
00:58:33.760 --> 00:58:38.016
And that Women's Health reason also is an
important issue that's growing and

27164d4d-2ac4-4b75-b27a-49c642675616-1
00:58:38.016 --> 00:58:39.840
continuing to drive that forward.

ed4fa953-2365-48f1-9df3-6a2cb7e27dde-0
00:58:40.720 --> 00:58:46.700
AI is greatest impact is is in, you know,
its ability to drive the opportunity for

ed4fa953-2365-48f1-9df3-6a2cb7e27dde-1
00:58:46.700 --> 00:58:52.320
people to do the work that is most
relevant and closing structural data gaps.

dcb71516-d831-4cf3-baff-84b7d4e70144-0
00:58:52.520 --> 00:58:56.682
Sustainable value requires aligning
outcomes pairs and reimbursement trust

dcb71516-d831-4cf3-baff-84b7d4e70144-1
00:58:56.682 --> 00:58:59.680
and frictionless adoption will determine
the winners.

3187c990-bbab-476f-96b3-41a55e3802d6-0
00:58:59.680 --> 00:59:03.916
And I go back to a view with Michelle and
with in terms of clarity and anchoring is

3187c990-bbab-476f-96b3-41a55e3802d6-1
00:59:03.916 --> 00:59:07.900
important and that governance, you know,
has to evolve as well in terms of the

3187c990-bbab-476f-96b3-41a55e3802d6-2
00:59:07.900 --> 00:59:10.119
kinds of strategic conversations they
have.

e233e222-0aa3-4207-8715-68252b8e7295-0
00:59:10.640 --> 00:59:16.036
And so I would say just please, you know,
join me in just sharing deep appreciation

e233e222-0aa3-4207-8715-68252b8e7295-1
00:59:16.036 --> 00:59:21.241
for our distinguished panelists here and
for their comments and perspectives and

e233e222-0aa3-4207-8715-68252b8e7295-2
00:59:21.241 --> 00:59:23.040
contribution to the outlook.

4beb1a53-d181-4f16-b63f-632a5425eaa7-0
00:59:23.040 --> 00:59:27.715
And I would say that, you know,
dig into the outlook reports we have

4beb1a53-d181-4f16-b63f-632a5425eaa7-1
00:59:27.715 --> 00:59:28.800
reach out to us.

bf0427c5-10c1-45fb-ac52-7a86e23395a0-0
00:59:28.800 --> 00:59:31.637
We can help you, you know,
translate some of that content,

bf0427c5-10c1-45fb-ac52-7a86e23395a0-1
00:59:31.637 --> 00:59:33.320
put it in perspective into context.

587eae8e-18bb-474f-83c1-c47b2d2b4a8c-0
00:59:33.600 --> 00:59:37.899
And we've also recently released a number
of other pieces through our Health

587eae8e-18bb-474f-83c1-c47b2d2b4a8c-1
00:59:37.899 --> 00:59:41.640
Forward blog, including one on tariffs,
drug policy and and trade.

fe1916ba-c91c-4d8d-8ffc-c0ac7894b8ff-0
00:59:41.640 --> 00:59:46.480
And so I put we encourage you to take a
look at some of that content there.

c5a3eaaf-3c4a-4caf-8998-a73a1f992788-0
00:59:46.480 --> 00:59:48.440
So thank you, Michelle.

e3d7b94e-b3d8-41b1-80c6-a2c8b8c2d308-0
00:59:48.640 --> 00:59:49.520
Thank you, Sarah.

66f13323-6257-4cc5-b1ff-945b401b6e6d-0
00:59:49.520 --> 00:59:52.364
Thank you,
Arsalan for all that you do and for the

66f13323-6257-4cc5-b1ff-945b401b6e6d-1
00:59:52.364 --> 00:59:56.826
insights today and appreciate our team
that helped put it put this together and

66f13323-6257-4cc5-b1ff-945b401b6e6d-2
00:59:56.826 --> 00:59:59.560
wish you all a wonderful 2026 in the year
ahead.

1655262f-f534-4ec6-b57b-63c9364489a9-0
01:00:00.920 --> 01:00:01.600
Thank you, Jay.

1b6db44b-72c1-4159-9ea2-85a7d4c7d07a-0
01:00:01.600 --> 01:00:02.400
Yeah, thanks, Jay.

6eb98df3-a5a2-475b-96e6-2f7e6bf5ae14-0
01:00:03.040 --> 01:00:03.480
Thank you.

48b9e363-d5e2-4f7b-8cdb-034b74d8ea80-0
01:00:05.080 --> 01:00:05.520
Thank you.