AgeTech

Do consumers trust technology?  Not so much -- just ask them. This question was asked on a recent Edelman Trust Barometer, responder age was capped at 64.  And the survey showed that the largest drop in trust for a category from 2020-2021 was in technology (summarized here in a single graph) – for some, not trusted. What categories were the most trusted?  Food and beverage, healthcare, transportation, education and consumer packaged goods.  What’s this mean?  According to Edelman: “The tech industry is now being held to account for all manner of societal ills -- from information bankruptcy to job loss, to human rights, to the mass-class divide." 

More programs are emerging to get older adults to tech parity.  Maybe 2020 was the tipping point and 2021 is the year. The first eye-opener was the OATS/Humana report about the 22 million adults 65+ who lack home broadband. Then AARP and OATS joined together to teach tech to older adults. This followed late-year 2020 activity, including the $10 million in funding for tech training company GetSetUp. And note the $18 million of funding for Papa from Comcast Ventures to combat social isolation in older adults and launch tech-enabled health offering called Papa Health. And there are efforts here and there to help seniors get or upgrade computers.

Aging in place – it’s emerged (again) during these Covid-19 times. Déjà vu all over again. But ‘aging in place’ is still a challenge and maybe a pipe dream for seniors in their late 70’s or 80’s.  Consider a few issues for starters:  chronic health conditions, mobility limitations, stairs, snow/ice, driving, dangerous hills for walking, cognitive issues, and social isolation.  You get the idea.  Then there is the cost of 24x7 home care, same as assisted living (which is $67K/year in Massachusetts, for example) or even Genworth’s 44-hours of home care ($53-54K annual).  That may work for the most well-to-do seniors.  But families are still in a position of finding and then managing the care workers, even with agency assistance. So Mom or Dad stays at home as long as feasible and even beyond – and that’s why the home care industry today is booming. And competing for the same workers as senior living firms pay their CNAs. 

Even online – it was still CES – from the silly to interesting to useful.  How many of these exist? An international conference where inventions from everywhere are welcomed.  Some of these offerings, as always, are odd.  But some, as with yesterday’s CES 2021 blog post, are quite straightforward and obviously useful. Others require a leap of imagination or a good explanation as to why this variant of hearing aid is worth as much as $4000 per ear.  As always with CES, some capabilities are interesting and have future potential – and some are just too cute for more words.  Here are 8 more: