Remote monitoring

The articles and tech industry focus on ‘aging in place’ and fear. And it’s not unlike the ‘I’ve Fallen and I can’t Get Up’ fear. AARP fuels it with survey results (77% of the 50+ want to age in place). Free-lance writers follow up with an Aging in Place story citing the survey. It capitalizes on the recent CES with a laundry list of tech offerings that could help with fears -- like sensors, medication management, motion sensors and smart watches to mitigate fear of falling. And AARP helps add brand recognition to the term ‘Age Tech’ with a collaborative of companies at the Nexus of Longevity and Technology to deal with health issues and mitigate fear.  But wait…

2023 begins with so many announcements, so little time.  The first big event, CES 2023, brought multiple startups and stalwarts to Las Vegas. Ironically, it was not the big tech news of the month – eclipsed by an OpenAI introduction that had appeared in November, but was suddenly noticed – first in December in the media. But then with a possible $29 billion valuation, Microsoft apparently offered up another $10 billion and Google’s ad business was suddenly and first the first time actually challenged.  A few simple test questions ‘(how do families fund nursing homes?’ and ‘what is the definition of dementia?’) and it is clear that the result is more complete than Google’s list of links.  As January’s end, the excitement continues.  Can AI be useful in the older adult markets of home care, senior living and beyond?  Stay tuned.

The 2023 Technology for Aging Market Overview is published. With the establishment of the term AgeTech at CES 2023, the formal interest in the market of offerings for older adults has now been established.  Investors are interested, startups are multiplying, and the landscape is favorable for new and intriguing offerings in the space.  And in some cases, the new offerings are coming from current players.  There are caveats, of course. Tech for all ages remains stubbornly difficult to use, whether it is the frequency of upgrades, the multiple steps to authenticate that the user is not a robot (including checking a box that one is not a robot!) and so it goes. We are not surprised at any of the barriers and pre-requisites we face to log on. And we know that new barriers are just around the corner.