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“AI and sustainability - cure or curse?”
While AI can help resolve data issues in sustainable investing, it can create problems such as information breaches and inherent bias in data.
Global | Publication | March 2017
The National Institute for Health and Care Excellence (NICE) produces guidance in a number of forms including technology appraisals. Technology appraisals are recommendations on the use of medicines and treatments within NHS England. The recommendations are based on a review of clinical and economic evidence. NHS England is legally obliged to fund medicines recommended by NICE’s technology appraisals.
NICE and NHS England recently consulted publicly on changes to technology appraisals and highly specialised medicines. Following consideration of the consultation responses, recommendations for making changes to NICE processes were approved by the NICE Board on 15 March 2017. The 3 changes which will be introduced from 1 April 2017 are as follows:
The Association of the British Pharmaceutical Industry (ABPI) has responded claiming that the changes will “prevent patients from receiving NICE approved, cost-effective medicines”. The ABPI says that “thousands of patients will wait longer for treatment for conditions like heart disease, cancers and diabetes while medicines which stand to benefit the most people are caught up in the system. If the NHS became more effective in its planning it could manage the introduction of new medicines in a coherent way”. The ABPI has called on the UK government to withdraw the changes.
The BioIndustry Association (BIA) has also responded that the changes will “limit patient access to novel, breakthrough potentially life-saving medicines, especially for rare diseases”. The £100,000 QALY maximum for medicines evaluated via the HST programme “will effectively stop the flow of new medicines” for very rare diseases, where “many treatments currently funded by NHS England for very rare conditions have costs per QALY in excess of £500,000…It is widely acknowledged in the industry that QALY thresholds are not appropriate for evaluating medicines for very rare diseases”.
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While AI can help resolve data issues in sustainable investing, it can create problems such as information breaches and inherent bias in data.
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In this edition of Regulation Around the World we review recent steps that financial services regulatory authorities have taken as regards investment research.
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n a long-running dispute, taking in no less than three arbitrations spanning 26 years cumulatively (involving allegations of state interference in the arbitral process), the Court has provided useful guidance on the ss.67 and 68 challenges, particularly in the context of investor-state claims.
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