Matthew Mottola: Let me play that back. Healthcare costs have gone up, we all know that. Looking at the actual providers, the doctors, that's stayed the same. What's boomed is the administrative side. Why? Is this because there are problems and rather than actually solving it, they're just applying more administrators? And I don't think it's going to get better. When I look at AI in recruiting, all the people looking for a job are using AI, all the recruiters are using AI, and we're creating a massive standstill. I think we're only going to see longer times in traditional talent channels. But let me double click on the increased administrators and how that ties to the back office.
Matthew Mottola: The theme I would use for this episode is going to sound so boring to some, but for those that get it, they're going to get so excited that we're finally talking about this. And that is the need to reduce administrative burden by prioritizing back office operations and not just throwing AI on it. If I were to summarize this whole episode: yes, AI is real. It's transformational. You and I have both admitted that even being deep in the AI world, we are surprised by how good it is. Who cares if we're in AGI or not? It's going to transform everything. With that said, most sectors are totally plagued by massive administrative burdens. At the macro level, industries like healthcare and education are obvious. But at the micro level, some functions have to deal with that as well. Procurement, HR. There's been a lot of burden where we're just trying to get work done and we've made it so hard to simply say, get this done. If you care about reducing administrative burden so your organization can drive more revenue and reduce cost, people need to reach out to you. Last question: where do you want every single one of our listeners to go right now?
Eric Ly: There are multiple ways to answer that question. I think it's really important to be open-minded as a leader to these developments in technology and AI that are upon us, and to figure out for ourselves, for our companies, how we're going to take advantage of them. Not as a blanket, I'm going to deploy ChatGPT among my team and it's going to be done. There's definitely much deeper work going on, to look for those solutions that really bring the value measurably to our organizations. The companies that exist in five years will be very much a hybrid between lots of AI and people too. But it's going to be a very different mix, and the potential for radical improvements in efficiencies are really going to be there. That's the competitive landscape that all the companies are going to be at. So it's really important.
