AgeTech

Some have said the concept of ‘AgeTech’ can be a bit depressing.  It is especially bleak when you look at the startup portfolio which aggregates a variety of tech categories to help older adults in their later years, Making Aging Easier for Everyone, and includes offerings that tackle deficits like issues with mobility, fall detection/prevention, caregiving, Alzheimer’s, vision, and many aspects of health. AgeTech tools include a few for the heavily-invested category of Digital Health ($3 Billion in Q1 2025).  All these products, all very useful, fill gaps in the general consumer market.  Consumer product designers tend not to start the day thinking about the older adult as a market segment. Instead, older adults are segmented into their roles -- older adults are the care recipients (B2B healthcare and senior living), as well as individuals with disabilities and needs for greater accessibility and/or services.  All useful.

IEEE wants to drive creation of a standard for AgeTech.  The global organization, long a player in the creation of standards across the spectrum of technology and engineering, has launched an ‘Activity’ called Technology Standards for the Aging (or AgeTech).The scope includes “terminology, human factors, usability, metrics, test methods, and interoperability for AgeTech products and services.” One possible output of this initiative is a certification of products or services that are in compliance with the standard.  Many already associated with the AgeTech topic are participating in this initiative, which is comprised of meetings and online discussion over a two-year period.

Some subjects are perennials – like robots for older adults.  Here we go again. This must be in some Fast Company editor’s standing list of topics – nothing else to write about so let’s do the robot-for-older-adults article again, this time written by futurists, comparing AI tech to physical robots – and asking real older adults what they think. You have to hand it to the interviewees – they know this is not a ‘robots’ topic. And they recognize ‘Advisor’ capability that already exists in Siri and Alexa – and that it is improving, though not (yet?) helping with human connections and isolation. 

The more things change – some trends dominate.   As the demographics change, couples age at different rates, life expectancy grows among the 65+ --averaging 20 more years, the oldest population growth rate outpaces younger demographic segments.  As the oldest baby boomer crosses 80 in the next few months several trends will drive technology adoption in distinctly new ways. As a result, the market for tech will need to accommodate a series of changes, sales methodologies and market opportunities.  A worsening labor shortage will continue to plague the senior care sectors, including senior living, nursing homes, and in-home care. What are the drivers that should attract innovators in the older adult tech industry?