13 Oct The future of Aging In Place – How Connected Devices and AI will transform support for older adults and their caregivers

Posted at 21:13h in News by

Most adults want to age in place. Technology – along with more accessible homes and caregiver support – will transform ageing in place for both older adults and their caregivers.

CoFunder (http://cofunder.co) has published a paper that examines:

  • the drivers of aging in place
  • the current state of housing and improvement opportunities
  • the importance of caregiving
  • challenges in optimizing current aging in place technology
  • what a future technology platform might look like
  • market opportunities for technology and non-technology companies (and who might pick up the tab)

Improving the ageing in place experience for older adults and caregivers creates a positive feedback loop that will allow us to:

  • extend the time older adults can safely remain in their homes
  • increase the length and quality of older adults’ lives by improving their physical, cognitive, social, and emotional wellbeing
  • reduce stress and improve relationships between family caregivers and older adults
  • reduce eldercare and healthcare costs

The paper is meant for:

  • Startups and innovators improving the aging experience for older adults and caregivers
  • Investors interested in the future of aging
  • Care service providers serving older adults and their families
  • Employers, financial advisors, estate planners and other service providers that want to understand the impact and opportunities of aging on their businesses

The paper also talk about the emergence of connected devices and the fact that the last several years has seen a proliferation of wearables, sensors, connected devices, medical devices, and communication platforms, designed to provide support for seniors, their families, and caregivers. But for these technologies to be most effectively leveraged, a comprehensive platform is needed rather than a series of products or partial platforms.

The full paper is available at http://cofunder.co/wp-content/uploads/2020/09/Aging-In-Place.pdf.