AgeTech

Technology and tech-enabled services matter for older adults. The marketplace for technology to assist aging adults in the Longevity Economy is expected to grow to more than $30 billion in the next few years, according to the updated report by Aging in Place Technology Watch, more likely to be based on customization of standard software, using existing platforms than creation of senior-specific products. The report provides predictions about key technology trends for 2018 and beyond. Families, caregivers, and seniors will acquire new tech-enabled services that improve the quality of their lives. The 100-million-strong 50+ market is increasingly aware of technology alternatives -- and providers know it:

What percent of exhibitors at trade shows survive?  Rant on. It’s not possible to speculate because it is not tracked.  That probably is fine for that gaggle of gadgetry at CES – most acting as trial balloons to test PR-worthiness and buzz.  But what about events whose trade shows are of one-off products or services intended to help older adults? Some events will not allow a small-sponsorship company to be on the show floor, literally placing them in a corner. Consider:  Company B is a startup, not yet a member of a national association. The founder of Company B, CEO B has been too busy inventing a product to line up complementary offerings that could be sold as a solution to a problem. None of the bigger resellers know anything about Company B yet, so the tiny firm takes the corner booth and hopes that on breaks, walking around the floor will generate a business partner or two -- and with serendipity, enable Company B to be part of the solution ABC.

What makes Voice First special for older adults?  This blog has discussed the emergence of Voice First technology -- speech-enabled interactions with technology -- on multiple occasions. But this occasion is different -- it marks the publication of a research effort and resulting report linked here called The Future of Voice First Technology and Older Adults 2018.  Today's blog post offers a short excerpt of key differences between Voice First technology and prior tech generations that apply to all users – but are unique for seniors -- future research will continue to explore that uniqueness. So what has inspired multiple organizations, including Benchmark Senior Living and Carlsbad by the Sea, to begin their programs? They see that while Voice First technology is an early market with some (noted) limitations, it also represents, unlike prior technology generations, benefits for users.  For users and tech managers, Voice First is:

It was one of the worst and the best of times for innovation and older adults.  It was a year, early on, in which tech-enabled home care appeared to resonate with investors. But traditional home care companies stuck to their knitting, watching the Home Hero shutdown in the midst of an ever-more-startling shortage of prospective workers.  It was the oddest of times, with the $80 billion hype of self-driving cars partly focused on the transit needs of older adults. And it was the best of times – as 2017 was the year of Voice First technology lift-off – as Amazon’s Echo forced the hand of Google’s Home. Ultimately seniors will benefit from technology that fits both their interest and needs -- see the Market Overview update from early in the year. Here are the top blog posts from 2017: