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On Sunday we held the 2nd annual Wing at JPM. The summit is invite-only, closed-door, and no-press, and the mission is to gather 300 chief level officers to debate and shape what’s next for healthcare and biotech. The proceedings are under Chatham House Rule.
The discussion leaders (our term for “speakers”) were:
- Ashley Magargee, Chief Executive Officer, Genentech
- Jason Kwon, Chief Strategy Officer, OpenAI
- Karen DeSalvo, Chief Health Officer, Google
- David Hyman, Chief Medical Officer, Eli Lilly
- Howard Chang, Chief Scientific Officer, Amgen
- Levi Garraway, Chief Medical Officer, Roche
- Andy Bindman, Chief Medical Officer, Kaiser Permanente
- Sharon Barr, Executive Vice President, BioPharmaceuticals R&D, AstraZeneca
- Arianna Huffington, Chief Executive Officer, Thrive Global
Although the discussions are private, I include in this post the discussion questions that we used to prompt the debates.
For AI, many of the key questions were focused on practical implementations of AI:
- At what point will hallucinations be fundamentally minimized such that we do not have to check results?
- At what point will models propose new insights instead of summarizing insights?
- Are healthcare-specific models important to build or will next generation frontier models subsume the capabilities?
- What business models will enable frontier models to access private data, i.e. beyond what is available on the open web?
For biotech, our partner Ansu Satpathy conducted a lightning round - true or false - with the following specifically-crafted statements, all with a 5-year timeframe:
- There will be novel drugs in patients that would not have existed without the use of AI.
- AI will be useful in niches of drug development but will not significantly change clinical development timelines.
- Because of the Inflation Reduction Act, we will see at least a two-fold reduction in the number of small molecules being developed, compared to biologics.
- More than 50% of drugs will be in-licensed from China.
In addition, our founding partner Gaurav Garg covered in his session sensitive issues facing the pharmaceutical industry. For his lightning round, he posed the following questions:
- True or false – In 10 years the number of drugs approved by the FDA will be up 3x.
- Fill in the blank – Our kids will live ___ years longer than us on average.
- What one class of disease is most likely to cause deaths in 30 years?
Many thanks to the discussion leaders and to the participants in Sunday’s summit. It was a privilege to welcome and collaborate with you.
We are excited about the startup opportunities at the intersection of health/bio and AI. If you are working in the area, feel free to reach out to Sara at sara@wing.vc and Ansu at ansu@wing.vc.
