What’s The Best City in the US for a Medtech Hub?

Here’s What ChatGPT Recommends …

In a recent Executive AI Bootcamp, our group of 25 CEOs discovered how to use Gen AI to enhance their strategic capabilities. We chose a use case of  selecting the best SMSA to locate a research and development center for a respiratory products medtech company, backed by private equity, that sought to become the market leader in its sector. ChatGPT gave us its recommendation, based on a set of criteria we provided.

That’s a timely, real-time use case it turns out, with a little twist.

Under the 2022 CHIPS and Science Act, the US Department of Economic Development, will award ten tech hubs in the US a $40-70 million investment. The goal is to invest in regions that have the potential to be global powerhouses, leveraging their technology, today and in the future, to grow employment and revenue.

The CHIPS and Science Act initiative brings together diverse stakeholders from the public, private, and academic sectors. The desired outcome will create Tech Hubs that build the workforce of the future, enable businesses to start and scale, and deploy and deliver critical and emerging technologies.

Medical technology has been identified as a key focus area. A recent Twin Cities Business article, Minnesota’s Campaign for MedTech Prominence, profiled several local medical device CEOs and others on the topic, who are lobbying for the Greater Minneapolis-St. Paul SMSA to be chosen for a tech hub. So, let’s put it to the test.

I prompted several Gen AI large language models to provide the right answer. Modifying our prompts from the AI for Strategy session at the bootcamp, here’s the prompt fed to ChatGPT4, Claude Opus 3 Haiku and Perplexity for the definitive recommendation.

Spoiler alert. ChatGPT4 chose Minneapolis-St. Paul as the overall winner. But not without some controversy. The other LLMs had different ideas.

Play the role of a skilled panel of judges with deep medtech / healthtech industry experience. The judges are considering the following metropolitan areas for the “smart med” designation. The overall winner will receive investment from the CHIPS and Science Act. The cities are: Boston, Minneapolis-St. Paul, Research Triangle Park, San Diego, Orange County, CA, San Francisco-Bay Area, Seattle and Austin.

Please do a broad-based assessment that includes the following factors:

  1. Supply of labor and skilled medtech human capital.
  2. Local tax situation and business climate.
  3. The health of the medtech/healthtech ecosystem of each SMSA, to include the size and impact of medtech / healthtech companies, the quality of nearby universities, the quality of healthcare providers, healthcare insurers and availability of venture capital firms.
  4. Ease of transportation and infrastructure.
  5. Community support.
  6. Quality of life and affordability.
  7. Other considerations you may identify.

Present a summary for each city. Create a table that evaluates each SMSA on these factors. Provide an overall recommendation of your top 3 finalists. Finally, choose an overall winner.

Here’s how the LLM’s responded:


Overall Winner: Minneapolis-St. Paul

Recommended Medtech Hub Finalists: Boston, Minneapolis-St. Paul, Research Triangle Park

Claude 3 Opus Haiku

Overall Winner: Boston

Recommended Medtech Hub Finalists: Boston, Minneapolis-St. Paul, Research Triangle Park


Overall Winner: Boston

Recommended Medtech Hub: Boston, San Diego, Minneapolis-St. Paul

The most widely used LLM, the workhorse of Gen AI, ChatGPT, chose Minneapolis-St. Paul as its recommended winner. The other two LLMs chose Boston. Both Minneapolis-St. Paul and Boston were mentioned in all three, while Research Triangle Park was mentioned twice and San Diego once.

What do you think? If you were the distinguished panel of judges, which city would you pick for investment as the premier medtech hub in the US?

Narratives of Tomorrow: Merging AI with the Art of Storytelling

Are You Leveraging AI to Tell Your Leadership Stories?

In our Executive AI Bootcamp, a cohort of twenty-five CEOs has gathered weekly every Thursday in February for a fast-paced hour of learning, featuring guest speakers and interactive Q&A. In last week’s session, we delved into “AI for Teams,” uncovering strategies to enhance productivity and the quality of work among top leadership teams. We explored a four-step process designed to optimize both functional and cross-functional teamwork, as well as to streamline processes using Generative AI to augment team workflows. The key takeaway was the importance of blending technology with a human touch to achieve the desired outcomes and experiences.

Our focus in Executive AI Bootcamp has predominantly been on practical, actionable use cases within the C-suite. However, we’ve also explored how Gen AI is being innovatively applied in ways that could indirectly benefit this group of high-powered leaders. This exploration was enriched last week by a visit from Erich Archer, an Emmy-award winning creative executive and content strategist, known for his exceptional storytelling skills.


The power of storytelling, an art as old as time, is undeniable. Storytelling is baked into our DNA. Our ancestors were weaving tales 30,000 years ago, capturing hearts and minds to influence and persuade. Think of the best CEOs you know. They are likely skilled storytellers.

Erich Archer stands out as a master storyteller.  As the executive director for 1623 Studios, a nonprofit community media center in Gloucester, Massachusetts, storytelling is at the core of Erich’s profession. Recently, he has been merging his passion for storytelling with Gen AI. He introduced us to great-great-great-great grandfather, Rufus Archer, who lived in nearby Salem from 1812-1909. Rufus was a cooper (a barrel maker) and volunteer fire fighter.

Using a few old pictures his father passed along of Rufus, Erich combined his storyteller’s imagination with the technology of Gen AI to create a documentary in the style of Ken Burns. This project included:

  • Writing the script with ChatGPT4.
  • Researching historical events with Perplexity.
  • Generating lifelike images from the photographs with Midjourney.
  • Producing a video from these images with RunwayML.

This innovative blend of Ai technology and storytelling crafted a captivating two-minute video, which transported us back in time, making Rufus Archer’s story come alive. Erich showed us what is possible when we combine AI technology with a good story. He created his production in about twenty hours for less than $200 on his laptop.

Will Gen AI eliminate the need for human storytelling? Absolutely not. The essence of leadership often lies in sharing a compelling vision of the future, sometimes by drawing on our past and the timeless values of our ancestors. Erich’s project serves as a profound example of how we can marry humanity with technology to engage and inspire. To experience the Rufus Archer story and learn more about how Erich crafted his remarkable piece, visit his LinkedIn page.  ​Watch the full video and read how Erich made it here.

The Starting Gun Has Fired…

There will be CEOs who are winners and losers. What about you?

The sprint has begun. If you’re not moving, you’re already falling behind.

For CEOs, the time to act is now. Gen AI is on the brink of transforming every industry, every company, and every knowledge worker’s role – including yours, CEO.

Leaders with vision are already on their feet, ensuring their teams and themselves are versed in the essentials of Gen AI.

They recognize the seismic shifts in work, seeing Gen AI not as a threat but as an ally to boost productivity, improve decision-making and elevate the quality of work.

I’m not the only one who sees it this way. Consider these insights:

  • 99% of companies are boosting their Gen AI investments.
  • 97% anticipate Gen AI will transform their business within three to five years.
  • A 20% productivity pickup is expected by automating tasks with Gen AI, says Accenture.
  • According to McKinsey, Gen AI tops the list of CEO priorities in 2024.
  • PwC reports that 84% of leaders believe Gen AI will streamline employee efficiency in 2024.
  • Gartner predicts Gen AI will deliver a 15.7% cost savings and 24.7% boost in team productivity within 12 to 18 months.

The future will herald victors and vanquished. Neglecting Gen AI as a top priority spells defeat. Delaying, failing to properly train, allowing rivals to forge ahead. What’s the price you will pay if you sit on the sidelines?

Last week, I launched a Gen AI series for twenty-five CEOs. Executive AI Bootcamp is a hands-on dive into harnessing Gen AI for productivity, strategy formulation, team enhancement, and leading into the Gen AI era. Despite 80% starting as beginners, they’re on track to becoming Gen AI powerhouses. They recognize the necessity and the immense opportunity to lead through this transformative era.

What will your Gen AI narrative be? Victor or vanquished. Sitting out puts you in peril. What’s your next move?

The Future is Now: Training is Critical to Navigate the Gen AI World

CEOs Must Get Trained to Chart Their Company’s Gen AI Path

At the World Economic Forum’s Annual Meeting in Davos earlier this month, several major consulting firms highlighted the promise of Generative AI. The key takeaway: Embrace Gen AI now or risk obsolescence! Selected findings:

  • 99% of companies plan to increase investments in Gen AI. – Accenture
  • 97% believe that Gen AI will transform their business over the next 3 to 5 years. – Accenture
  • 49% of CEOs say Gen AI will create new revenue streams in the next 3 years. – PwC
  • 44% of working hours are ripe for AI-augmentation or automation. – Accenture
  • Executives launching Gen AI in 12 to 18 months expect 15.7% cost savings and 24.7% productivity improvements. – Gartner
  • Headcount reductions from Gen AI implementation are projected to be 3.8% in 2024, 6.1% in 2025 and 8.2% in 2026. – Gartner

The message is clear: Gen AI adoption is accelerating. However, most employees feel unprepared:

  • 61% of workers will need retraining by 2027. – World Economic Forum
  • 60% of white-collar workers fear jobs loss from Gen AI. – Oliver Wyman
  • 57% report insufficient Gen Ai training from their employer. – Oliver Wyman
  • 57% are overwhelmed about integrating AI into their roles. – edX

So what’s a forward-thinking CEO to do? Get trained on Gen AI yourself first. Discover firsthand how it augments productivity, strategy and creativity. See how it enhances decision-making and saves time. Then, get your top team trained on real-world AI applications.

With you and your top team AI-enabled, have informed discussions about your Gen AI ambition. Where’s the potential? What possibilities exist? How can AI augment strategies and create better futures? What work is off-limits to Gen AI? What new skills are needed? How will you reskill your people?

The Executive AI Bootcamp starting February 1 is an excellent first step for CEOs. Check it out. If you are a CEO, and desire to lean into an AI-powered future, join us.

The Winds of Change are Blowing

Develop Your Gen AI Strategy Now or Risk Falling Behind

Generative AI is the most important technological development in our lifetime. This is the year when businesses must harness the power of Gen AI or risk obsolescence.

The writing is on the wall. The recent EY CEO Outlook finds 62% of CEOs see an urgent need to leverage Gen AI to remain competitive, yet 61% find initiating this shift challenging. Meanwhile, McKinsey identifies Gen AI adoption as the #1 priority for CEOs in 2024. The time for action is now.

Gen AI is more than a passing fad. 97% of executives in a recent Accenture survey believe it will essentially reshape their business within three to five years. Early adopters are already realizing tremendous value, with expectations of 15.7% cost savings and 24.7% productivity gains in the first 12-18 months.

Yet, most CEOs I talk to don’t have a Gen AI ambition or vision. Most companies are still woefully unprepared. A Gartner survey found only 9% of CIOs have an AI strategy in place, with over one-third lacking any plans to formulate one. This lack of strategic vision leaves the door wide open for savvier competitors.

The future of your business depends on getting smart on Gen AI’s potential quickly. You must set the ambition and the vision of how your business can be optimized, accelerate performance and transform, augmented by Gen AI, and equip your top team with the knowledge and capabilities to use Gen AI in their personal workflows and identify company-wide high-impact use cases.

I coach and train CEOs and their top teams, to assist them in becoming more productive, creative and strategic, using Gen AI as their co-pilot. This Thursday, I am kicking off Executive AI Bootcamp: 30 Days to Reinvent Your Leadership, for a select group of 25 CEOs who are committed to embracing Gen AI now and in the future. I have three open spots for CEOs who are energized and committed to discovering Gen AI’s possibilities. Message me if you are interested and, if selected, the benefit you seek to receive from this free training.

Don’t get left out in cold as the winds of change blow past you. It’s time to move to future proof your leadership. Optimize your business for the age of AI. The time to start is now.