The High Tech Agenda
November 2024
The Council’s 2024 Annual Meeting
On November 14, the Massachusetts High Technology Council held its 2024 Annual Meeting at The Library at Mooo…Seaport in Boston. This year’s new biennial social format encouraged attendees to connect with colleagues and engage in thought-provoking discussions on Massachusetts’ future. The evening reflected the Council’s mission to strengthen the state’s competitive edge through collaboration, innovation, and leadership.
The AI Landscape, Law, & Legislation: Insights from AEI’s Will Rinehart
One of the highlights was an insightful presentation by Will Rinehart, Senior Fellow at the American Enterprise Institute (AEI), who examined how states are shaping AI governance and influencing broader national strategies. In his talk, “Laboratories of Regulation: How State-Level AI Regulation and Administrative Agencies are Driving AI Policy in the United States,” he shed light on the dynamic interplay between state legislatures, federal agencies, and Congress, emphasizing how these evolving regulatory approaches impact innovation, compliance, and economic growth.
Rinehart highlighted the stark cultural divide between political hubs like Washington, D.C., where debates center on legislation and regulation, and tech hubs like Silicon Valley, which focus on AI safety and alignment. He posed a provocative question: Is it constitutional to pause AI development? Citing the 2023 letter from tech leaders calling for a six-month pause on powerful AI training, Rinehart shared his research on the constitutional and legal complexities of such a proposal.
Turning to government responses, Rinehart noted slow progress in Congress but highlighted increasing regulatory agency involvement as evidence of growing awareness about AI’s impact. He referenced his work, AI’s Automatic Stabilizers, and emphasized the momentum at the state level, citing landmark AI legislation in Utah and Colorado as catalysts for broader state action.
As Massachusetts looks ahead, the conversation around AI regulation is set to continue evolving, and Rinehart’s insights are an important part of that dialogue.
To view Rinehart’s presentation, research, and additional resources, click here.
Mass Opportunity Alliance: Early Successes
Public affairs strategist Michael Saltsman, owner and partner at Berman and Company, discussed the Council’s “Committed to Action” strategy and provided updates on the early successes of the Mass Opportunity Alliance (MOA). Saltsman emphasized the Council’s advocacy for policies that bolster the state’s competitiveness, sustain its innovation ecosystem, and enhance residents’ quality of life.
Launched on September 18, 2024, following its conceptualization by the Council’s Board in 2023, the MOA coordinates resources, strengthens public outreach, and counters policies that could hinder economic growth. The initiative has received significant media attention, spotlighting its ambitious goals and strategic impact.
Saltsman also highlighted the MOA’s widely cited data products and real-time fact-checks, which have become valuable resources for media outlets. These tools provide clarity on topics such as outmigration myths and the impact of state income taxes on talent retention, including within Massachusetts sports teams.
Click here to visit the official MOA website and dive into the data.
Four New Directors Elected to the Board
We are proud to welcome four Massachusetts leaders as new directors, joining 28 directors who represent a remarkable blend of private-sector, academic and research, and professional service firm leaders in Massachusetts. Their diverse perspectives and expertise will contribute to the Council’s mission of fostering innovation and economic growth. We extend our warmest welcome to:
John Chartier
Partner
About
John Chartier drives company transformations at the intersection of talent, M&A, organization, and strategy to support leaders in life sciences, healthcare, technology, and more.
His expertise is in talent management, helping organizations and C-suite leaders navigate large-scale change. Whether it’s transformation, M&A, or top-team effectiveness, he brings deep experience in workforce and talent strategy across a broad range of industries.
John is a leader in our M&A Practice and manages numerous pre- and post-M&A initiatives. He counsels personnel on commercial transformations and frequently works with C-suite executives on large-scale leadership programs.
His recent client experience includes the following:
- leading an end-to-end transformation of a healthcare organization in the United States, identifying approximately $3 billion in cost reduction and revenue benefit
- leading the transformation office for a life-science organization. The initiative included value capture, organization design, operating model, and organizational health, and resulted in more than $100 million run-rate savings
- launching an “agile talent win room” focused on hiring employees with new profiles, such as digital and coding, which included developing employee value propositions and a five-year talent strategy; this resulted in the fastest hire time in the company’s history and a 100 percent offer-to-accept rate of candidates
- developing a post-merger talent strategy for a company that included capability mapping, talent attraction strategy, top-team effectiveness, and future-state culture development. The project led to significantly improved employee retention and the highest employee engagement scores in the company’s history
Aside from client engagements, John helps to lead transformation for McKinsey’s own global talent attraction. He convenes roundtables that bring together top business leaders across the region. He sits on the board of overseers at Babson College and is involved in the alumni association of Harvard Business School, and in the Merrimack Valley community.
John Connaughton
Co-Managing Partner
About
John Connaughton is Co-Managing Partner of Bain Capital, a leading global private investment firm with approximately $185 billion in assets under management.
John joined the firm in 1989, became Global Head of Private Equity in 2011 and Co-Managing Partner of Bain Capital in 2016. During his tenure at Bain Capital, John has focused his investment efforts in the healthcare and technology/media spaces. Prior to joining Bain Capital, he was a strategy consultant at Bain & Company.
Mr. Connaughton is active in several philanthropic organizations including serving as a member of the Berklee College of Music Board of Trustees, the Brigham & Women’s Board of Trustees, the Roxbury Latin School Board of Trustees, the GreenLight Fund Board of Directors, the Harvard Business School Board of Dean’s Advisors, and the McIntire School of Commerce Foundation Board and Investment Management Company at the University of Virginia (UVIMCO). He is also a member of the Boston Celtics’ investor group and Board of Directors.
John received a BS in commerce with Distinction from the University of Virginia and an MBA with High Distinction from Harvard Business School, where he was a Baker Scholar.
Russell Low, Ph.D.
President & Chief Executive Officer
About
Dr. Russell Low became Axcelis’ CEO in May 2023. Dr. Low joined Axcelis in October 2016, first serving as Executive Vice President, Engineering and then as Executive Vice President, Global Customer and Engineering Operations effective January 2021. Prior to joining the Company, Dr. Low held the position of Vice President of Engineering, MOCVD Business Unit at Veeco Instruments since 2013, prior to which he was Veeco’s Senior Director of Engineering, Molecular Beam Epitaxy Business Unit beginning in 2012.
From 2003 to 2012, Dr. Low held a number of positions at Varian Semiconductor Equipment Associates, most recently as Director of Technology. Prior to that, Dr. Low held engineering positions in the thermal processing and ion implant divisions of Applied Materials, Inc. Dr. Low received his Ph.D. in Physical Chemistry from Oxford University. He also holds an Executive MBA from the Massachusetts Institute of Technology, a BS degree from Southampton University, and
was a Visiting Fellow at Stanford University. He has 44 granted US patents over multiple categories and has authored over 20 refereed papers.
Valery Panier, Ph.D.
Managing Director & Senior Partner
About
Val Panier is a Managing Director and Senior Partner in BCG’s Boston office. He joined Boston Consulting Group in the year 2000 and is a core member of the firm’s Healthcare practice area, which he served as its North America Leader from 2018 through 2023. Prior to that, he led the firm’s Biopharmaceutical R&D business globally.
Dr. Panier has lived and served clients in Europe, Asia and North America. He has extensive experience in strategy, operations, and organization-related topics. He has supported many biotech and biopharma companies globally as well as healthcare services organizations and private equity investors. Val has also helped several leading research institutions on strategy and business development topics.
Prior to joining BCG, Val worked as a Research Scholar at the Massachusetts Institute of Technology where he developed performance monitoring systems. He holds an engineering degree and a Ph.D. with specialization in statistics from his native Belgium. He also received an MBA from the Sloan School of Management at MIT.
The Council is led by a six-member Executive Committee and five Officers. The newly elected and re-elected directors bring a wealth of experience and expertise to the Council and will guide our efforts in the years ahead.
Thank you to everyone who attended this year’s Annual Meeting and for your commitment to strengthening Massachusetts’ business climate. We look forward to advancing these discussions and shaping the Commonwealth’s future together.
Thank You to Our Sponsors!
We would like to extend our gratitude to our sponsors, whose support played a vital role in making the 2024 Annual Meeting a resounding success. We express our appreciation to Keynote Speaker Sponsors KPMG and MKS Instruments, Meeting Sponsor McKinsey & Company.
State Government News & Public Policy Updates
Effort to Protect State’s Graduation Standard Falls Short
Despite concerted efforts from the Council and our members, the “No on Question 2” campaign was unable to counter the well-funded campaign led by the Massachusetts Teachers Association (MTA). The approval of Question 2, which removes Massachusetts’ sole statewide graduation standard, presents notable concerns:
- Threat to Educational Standards: The loss of this standard jeopardizes Massachusetts’ strong educational framework, a crucial factor in the state’s attractiveness for businesses and workforce talent. Weakening educational rigor could erode Massachusetts’ competitive position, especially as we face high operational costs.
- Regional Voting Trends: Analysis indicates that towns with high-performing schools largely opposed Question 2, while underperforming districts showed strong support. A presumptive trend that undecided voters would align with the “No” stance did not materialize, underscoring the importance of more targeted engagement in future campaigns.
Looking forward, attention shifts to the Massachusetts Legislature, which may consider measures to mitigate the impact of this ballot initiative. The Council remains committed to advocating for robust educational standards and accountability in our school systems.
Positive Outcomes in Other Ballot Initiatives
Some encouraging results emerged from other ballot measures, which may signal public openness to transparency and fiscal responsibility:
- Passage of Question 1: This measure grants the state auditor authority to review the Legislature’s finances, suggesting a strong public interest in greater governmental accountability.
- Defeat of Question 5: The rejection of a tipped wage increase demonstrates that Massachusetts voters are discerning in their support for labor measures, especially those funded by out-of-state interests with limited union backing.
These outcomes reinforce the potential to defeat proposals detrimental to the Massachusetts economy, particularly when resources and public support align effectively.
The Council will work to galvanize the business community through MOA.
Economic Development Bill Signed by Governor
After several months of delay, the Legislature finalized, and the Governor signed a nearly $4 billion economic development bill, advancing priorities aligned with our MassVision2050 initiative.
The bill authorizes $100 million in funding to support applied artificial intelligence initiatives, informed by the pending recommendations of the Governor’s AI Strategic Task Force, to which the Council and our members have contributed recommendations and expertise.
The Council’s thought leadership on AI in healthcare includes the release of a whitepaper in June, “Becoming the Global Leader in Applied AI for Healthcare & Life Sciences,” which contains findings and recommendations for steps the Commonwealth can take to further our aspiration of making Massachusetts the global leader in “Applied AI” for healthcare and life sciences. Since the release of this report, the Council and its members have continued to work with Boston Consulting Group (BCG) on advancing the report’s recommendations to realize an AI-enabled leap in patient outcomes and health equity.
The bill also includes funding requested by the Council for another AI-related MassVision2050 priority—a Financial Innovation and Research Center to establish Massachusetts as a talent hub for AI in FinTech, accelerate the incubation and launch of applied AI startups, and create new jobs and economic development in Massachusetts in the applied AI and FinTech fields. This initiative is a vital part of our strategy to position the Commonwealth at the forefront of the rapidly evolving AI and FinTech industries.
MHTC News & Updates
Coming Soon: The Council’s New Charitable MassVision Foundation
Driving Innovation & Opportunity for Massachusetts
We are proud to announce the creation of the MassVision Foundation, a Council 501c(3) dedicated to ensuring the long-term economic success, innovation, and prosperity of the Commonwealth
As a cornerstone of the Council’s mission, the Foundation will drive collaborative solutions to critical challenges, support talent development, and promote equitable opportunities for all residents. The MassVision Foundation will advance key aspects of the Council’s multi-year MassVision2050 initiative, focusing on sustainable economic growth, workforce development, and social mobility. By strengthening Massachusetts’ position as a global leader in innovation and fostering inclusive growth, the Foundation is poised to make a lasting impact on the quality of life for all who call the Commonwealth home.
A formal announcement will follow after Thanksgiving.
Government Agencies Engage with the MassVision2050 Cybersecurity Community
On November 6, the Council held an exclusive MassVision2050 Cybersecurity Community program hosted by Russell Low and Jon Dragon at Axcelis Technologies. The program brought together senior executives, CIOs/CISOs, and cybersecurity professionals for a timely discussion with federal and state authorities on today’s most pressing cybersecurity issues, featuring presentations from:
- Joseph Flores, Massachusetts Cybersecurity Advisor at the Cybersecurity and Infrastructure Security Agency (CISA), an Agency within the Department of Homeland Security, who discussed strategies for improving cybersecurity resilience through state and federal collaboration.
- Doug Domin, Supervisory Special Agent for FBI Boston’s Cyber Task Force, who highlighted evolving cyber threats and best practices for organizations to stay ahead.
Attendees also previewed the Council’s 2025 Cybersecurity Community agenda, which outlines upcoming member-only programs and initiatives designed to strengthen cybersecurity collaboration and preparedness across sectors, including long-form sessions with Doug and Joe to explore the topics and government resources further.
We extend our gratitude to the speakers, the Axcelis Technologies team, and all attendees who contributed to the event’s success. Your engagement underscores the importance of collective action in addressing the complex cybersecurity challenges facing organizations today.
We look forward to continuing this important work in 2025 with more opportunities to collaborate and learn together.
Interested in having your organization participate in the Cybersecurity Community? Contact Council President Chris Anderson for more information.
Support Kids in Tech for Giving Tuesday
Kids in Tech, a non-profit organization and valued member of the Council, is dedicated to inspiring the next generation of STEAM leaders in Massachusetts. Through its signature After School Tech Club, Kids in Tech provides customized STEAM curriculums to underserved youth in Boston, Lowell, and Somerville. By investing in youth today, Kids in Tech creates opportunities for tomorrow’s leaders in STEAM.
With Giving Tuesday approaching on December 3, Kids in Tech has set a goal to raise $50,000 to expand its STEAM education programs and reach even more young minds. Every contribution, no matter the size, brings Kids in Tech closer to achieving this goal.
Please join us in supporting Kids in Tech by donating and sharing its mission within your network and organization. Together, as a community, we can help build a brighter future!
Please reach out to Steven Weglinski at sweglinski@kidsintech.org with any questions or inquiries.