Publicly available up-to-date stats about the older adult population is weak or non-existent. The most recent version of ChatGPT admits it cannot state the current population in the US that is aged 75+. Nor can Google. This is somewhat surprising, given the angst in business and market predictions about the aging of the US population and the potential doom that it portends. But anyway, the answer is buried in Census tables. Would you be surprised to learn that there are 25.7 million people aged 75+ today? That 14.8 million are women and 10.8 million are men? Would it surprise that 42% of the 65+ population (60.5 million) is aged 75+?
The 2024 Technology and Aging Market Overview is online. It provides new information and insights about trends that drive technology change for the older adult marketplace. They represent the context for understanding new technologies discussed and featured in the report. This year is in many ways unusual -- the oldest baby boomer turns 78, AI investment and interest reached fever pitch, and the annual CES show had its highest turnout, with AI everywhere since 2020. These trends include the possible future role of AI, that can help address workforce issues and provide benefit over the coming months and years:
AgeTech is a niche market no more. As we approach 2024 and the plethora of tech introductions from CES 2024, let's reflect. This past year underscored the demographic changes that have brought an aging population -- turning 65 at a rate of 10,000 per day -- into the sight lines of investors, startups and health providers. The very recent monumental investment that swept AI and media visibility underscored how AI could help older adults. And the shortage of labor in the care industries put a spotlight on the gaps in care that AI tech can help close. No doubt 2024 will reveal more investment and innovation in tech for older adults. All material is drawn from the websites of the companies.
Why AI will be an enabler for care work. Healthcare delivery is migrating away from the hospital.As care delivery and consumer expectations change, the traditional fee-for-service model has already morphed into the new era of health-care consumerism – a patient-organized mix of self-care, urgent care, and in-home care, avoiding emergency rooms or long wait for a doctor visit. More seniors used telehealth at home during the pandemic – and today the landscape is set for growth in the use of AI in care delivery to augment, assist, and in some cases provide care: