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.
San Francisco, December 1, 2023 - Scrum Studio Inc., in partnership with Hakuhodo, announces the launch of AgeTechX, a visionary open innovation program dedicated to helping scale and grow startups developing products and solutions working to revolutionize the $2 trillion field of aging-related technology and services by collaborating with Japanese corporations.
What a week – chaos at OpenAI plus the rise of scam innovation. This weekend exposed a conflict at OpenAI, the November 22, 2022 bringer of ChatGPT, between the board that wants to develop AI for good and perhaps another view, AI for commercial profit. Sam Altman the founder is fired, begs to come back and instead is offered a job and a team at Microsoft (the other big funder of OpenAI.) He agrees to go to Microsoft and 700 of OpenAI’s 750 employees threaten to quit. Guess they weren’t big fans of AI for Good. Microsoft, which committed as much as $10 billion over time for OpenAI, might think AI for Profit might be a better strategy. Watch for the next installment of this very public soap opera.
Setting the stage for The Future of Care Work research. Did you know that the number of workers per social security beneficiaries continues to shrink? That two-thirds of doctors and nurses are experiencing moderate or a great deal of burnout at work. That over 85% of US adults suffer from one chronic illness. That 33% of those aged 85+ have Alzheimer’s or dementia? These points and more are the backdrop for the upcoming November report, The Future of AI and Care Work. Meanwhile, here are five points from September, 2023.
Devices that offer visual or audio cues for older adults are an important developing market as care providers look to reduce incidences of falls.
One startup, De Oro Devices, is hoping to broaden its market reach for NexStride, a device that attaches to tools like canes or walkers and creates a green laser projection on the ground for users to follow.
The company officially announced a partnership with New York-based RiverSpring Living following a successful trial run of its device at RiverSpring’s campus in the Bronx.
Older adults and caregivers are served by a number of offerings and events. And CES 2024 is still more than 3 months away. Events are ahead like Aging 2.0 Optimize in September in Lousiville, LeadingAge’s Annual Meeting in November in Chicago, and the What’s Next Longevity Innovation Summit in December in Washington. Each of these will no doubt feature startups of services and technologies, many incorporating AI) in multiple areas. In the meantime, here are five recently announced innovations and services for the older adult marketplace worth checking out:
EW YORK, Sept. 6, 2023 /PRNewswire/ -- Blooming Health, a digital engagement and referral solution enabling service providers to engage older adults and their family members, today announced the close of an oversubscribed $4.2 million seed round. Investors include Afore Capital and Crossbeam Venture Partners, with additional investment from Chelsea Clinton's investment firm, Metrodora, and angel investor and DoorDash Cofounder, Evan Moore.
What a week – chaos at OpenAI plus the rise of scam innovation. This weekend exposed a conflict at 
Setting the stage for The Future of Care Work research. Did you know that the number of 
Older adults and caregivers are served by a number of offerings and events. And CES 2024 is still more than 3 months away. Events are ahead like 