San Francisco, famous for its high number of hoodie-wearing tech workers, was filled with thousands of suit-wearers this week for JPMorgan‘s per year health conference.

Leaders from major health organizations, financial institutions and companies from around the world gathered in the lobby to talk about business and strategies for 2025. The sunny clouds were a welcome addition to the rain in previous years, but some absences were hard to ignore.

This year’s meeting, known as JPM, took place a month after UnitedHealthcare CEO Brian Thompson a fatal shot in New York City. The news was received by the American public with many posts on social media to show anger to health care industryand many are sharing painful stories with insurers.

More than 10 companies, including Cigna and Walgreensthen appeared at JPM, according to a CNBC analysis of the conference proceedings. There was a heavy police presence at the venue, the Westin St. Francis, and many companies have strengthened security for their private events and parties.

“The underground story that I think people are talking about over water and cocktails is obviously what happened to the CEO of UnitedHealthcare,” said Wei-Li Shao, president of metabolic syndrome startup Omada. What does this mean for healthcare?

Thompson’s death was a “shocking, tragic event” that has served as a wake-up call for the health care industry, said Erik Wexler, CEO of the nonprofit health system Providence, which has 51 hospitals and 1,000 clinics in seven states. .

“Why are we on a different path here? Why are we fighting?” Wexler said. “Our mission is to do the best for the people who need us most at the most important time in their lives, whether you’re the payer or you’re the hospital.”

Although Thompson’s death dominated the conference, there was also an audible joy and buzz for 2025. There was no shortage of discussion about the benefits of artificial intelligence and blockbuster weight loss drugs called GLP-1s, and investors seem optimistic that the digital market could turn a corner.

“There are a lot of amazing things coming up in healthcare,” he said Dexcom CEO Kevin Sayer.

“Drug companies are companies like ours, we work hard to improve people’s lives, and we make a big difference,” said Sayer, who knew Thompson well. “Have a little hope and give us a break, we’re all trying to do the right thing.”

Here are some CNBC highlights from JPM 2025:

Generative AI stole the show

Generative AI was undoubtedly the “girl” of 2024, and it seems that it will not change in 2025.

Healthcare systems in the US are struggling with fatigue, understaffing and limited space, so companies are rushing to develop AI tools that can manage some of the company’s tedious tasks. This story was impossible to avoid at JPM.

For example, a healthcare company Waystar announced a new form of AI that aims to help doctors more quickly dealing with insurance denials automatically writing letters of complaint. Amazon Web Services and General Catalyst announced a new partnership aimed at accelerating the development and deployment of AI healthcare tools. Abridge health initiatives he announced Mayo Clinic will implement AI-powered medical record technology for nearly 2,000 physicians across the industry.

“At the highest level, I don’t think it can be understated how much AI is affecting healthcare,” said Dr. Shiv Rao, founder and CEO of Abridge. “At least in our field, the ideas we get every day are amazing, and the number of adoptions shows that this is a reality.”

Nvidiawhich creates tools that support AI tasks, was a hot topic at JPM this year. The company has announced collaborations with several medical organizations including clinical researchers The price of IQVIAfounder of neurotech Synchron, a genomics company Ilumina and the Mayo Clinic academic medical center.

“We’re a billion dollar business between our revenue and our partners,” said Kimberly Powell, vice president of healthcare at Nvidia. He also said that Nvidia sees a huge opportunity for medical AI applications.

Workers have an effect on GLP-1s

At parties and events this week, CNBC spoke to executives who were impressed by the benefits of a growing class of weight-loss drugs called GLP-1s.

Images of Novo Nordisk and It’s Eli Lilly Diabetes and obesity have been very successful in helping patients lose weight in recent years. A You can learn found that patients take NewWegovy’s obesity treatment maintained an average of 10% weight loss for four years, for example.

Research shows that GLP-1s may also help treat heart disease, kidney disease and addiction, among others. The US Food and Drug Administration approved Lilly’s weight loss drug Zepbound as an anti-sleep medication in December.

Some experts estimate that anti-obesity drugs could grow into a $100 billion industry by the end of the decade.

“These drugs are amazing, and they’re not going away,” said Dexcom’s Sayer.

The lack of resources is one of the biggest challenges facing the industry in the market, as the economic boom has made it difficult for many patients to get the treatment. The drug usually costs $1,000 a month without insurance, and coverage still varies for most Americans.

Despite this, many medical officials are optimistic that GLP-1s will improve public health in the US.

“I’ve been laughing, it’s been two G’s, right? It’s like, GLP, GPT,” Omada CEO Sean Duffy said.

Uncertainty surrounding the Trump administration

Before the President-elect Donald TrumpOn Monday’s opening, JPM officials had many unanswered questions about his administration’s health care plans.

Health care has not been a major focus for Trump on the campaign trail, which means his plans for the industry are difficult. In addition, he made some opposites Ministers appointed since the election.

Trump chose a vaccine skeptic Robert F. Kennedy Jr. to lead the Department of Health and Human Services, a popular TV presenter Dr. Mehmet Oz leading the Centers for Medicare & Medicaid Services and pancreatic surgery Dr. Marty Macary lead the Food and Drug Administration. All three nominees still need Senate confirmation.

“Until we have some transparency in this movement that is coming to the US, the market will be very volatile and very depressed,” said Rebecca Stevenson, head of health banking at HSBC in the Americas, told reporters. round table.

Owen Tripp, CEO of health care platform Included Health, said the Trump administration appears to be business-friendly and will push for more access to care.

“It’s not about who’s in the White House, it’s about the fact that you have a Republican Congress and Senate that is aligned with increasing access and transparency,” Tripp said. “I think you’re also going to see more transparency in drug prices and health care prices, which is also good.”

Watch: UnitedHealthcare’s disaster is an invitation to corporate America, says Wharton’s Americus Reed.