In the winter of 2024, the Consumer Technology Association brought its CES show back to Las Vegas. But amid the expected fare – from immense televisions to the Artificial Intelligence of everything – was a bit of a surprise. AARP, formerly known by its longer moniker of the American Association of Retired Persons, had one of the biggest booths on the convention floor. As we’ll soon explain, AARP’s investment in the conference heralds a new age of technology that will impact consumers of all ages. How will it impact our lives? We’ve identified three trends that shine a light on what we expect to see in the years and decades to come.

An Aging Society (That’s Aging for Longer)

The United States is, collectively, growing older. The population of those 65+ grew nearly five times faster than the total population over the last century. But the size of the aging population is only one part of a much larger equation that will drive lasting innovation and change.

American longevity is also near an all-time high, with life expectancy improving by more than nine years between 1950 and 2022 (from 68.2 years to 77.5 years). In fact, should an American live to the age of 65, they have a 50% chance to live to reach 85.

Add to this that those 65+ now account for 22% of consumer spending, and the implication is clear: developing solutions for an aging population isn’t just the thoughtful thing to do; it’s an economic imperative for brands looking to grow.

Enter Age Tech

Age Tech is collection of solutions that address every element of this equation. AARP defines Age Tech as “solutions designed to meet the needs of the world’s aging population. These include products, services and experiences across industries that aim to make the process of aging easier.” Age Tech spans categories from health to finance, mobility to gaming, and beyond. The market is expected to reach $100T in value by 2050.

But where’s that growth going to come from? Looking to CES and elsewhere, we’ve identified three trends to keep an eye on as Age Tech continues to accelerate, and how it will change day-to-day life for Americans everywhere.

Trend 1: Scaling Quality Care

The biggest immediate implication we see of an Aging Society is its impact on the healthcare system. With healthcare providers already being spread incredibly thin, the vast influx of patients who are going to need more extensive care for longer poses a daunting challenge.

“The workforce shortage in healthcare is so significant, that only technology is going to be the answer to scale,” said Dr. Hon Pak, SVP and Head of Digital Health Team, MX Business at Samsung Electronics. Dr. Pak later added, “The tsunami is approaching us. And we are not prepared. I believe that the current healthcare system, as is, cannot sustain the amount of care that will have to be provided in its current structure.”

Age Tech is responding by investing in artificial intelligence that takes administrative tasks off doctors’ and nurses’ plates so they can focus on providing the best care they can for the largest number of people possible:

·Ambient AI Scribes – Numerous players in the space are developing and deploying AI solutions that can compliantly listen in on doctor and patient conversations, document what is said, and synthesize it for the benefit of both. Instead of spending an additional hour at a computer every day, doctors can channel more time and energy into providing attentive care.

·Office Chatbots – While chatbots are far from new, they still have untapped potential in the world of healthcare. Imagine, for example, how much time would be saved if office staff didn’t have to answer boilerplate questions (about their office’s hours or address) or manually schedule appointments.

At scale, where the gains of inches quickly become miles, artificial intelligence is poised to greatly reduce the workload across the American healthcare system as more people turn to it for care, which will lead to a more efficient experience for everyone… not just those who are aging.

Trend 2: Bolstering Independence with Mental Fitness

Another key consideration of an Aging Society is the question of where it will age. With eighty-five percent of people saying they want to age in their own home, ensuring safety while people maintain their independence becomes a top priority. And while helping people maintain their physical fitness as they get older is an important goal, we’d argue that investing in tools that help people maintain their mental fitness and protect against cognitive decline is as – if not more – important.

Some of the most common tools deployed to this end? Games and play.

“A brain that plays games 20 minutes a day stays healthy for a lot longer,” explains Anthony Veneziale, co-chief executive officer and founder of Freestyle+.

Freestyle+ developed Flowzone, a forthcoming app that aims to strengthen mental fitness by encouraging users to step outside their comfort zones by embracing creativity and improvisation through play. Instead of doing puzzles, people can play improvisational games that encourage them to let go of inhibitions and make unexpected mental connections, thus keeping their minds sharp. Additionally, collaborative games encourage users to play with family loved ones across the globe, strengthening social connections, which the Mayo Clinic identified as a key to healthy aging.

Trend 3: Empowering Loved Ones

The final trend we see is less focused on the aging, and more focused on those who care for them. As Dr. Pak, the Samsung SVP points out, “The most untapped resource in health is the caregiver. That’s the moms. That’s the daughters. That’s the sons.” A full 14% of Americans – 37.1 million people – provided unpaid eldercare in the United States in 2023. And we expect that number to balloon as the aging population continues to grow.

Dr. Pak, further points out that health is a team sport, meaning that the most effective and positive outcomes spring from physicians and nurses partnering with patients and their loved ones alike.

 So what does empowering caregivers look like? Increasingly, it looks like giving them tools that provide the data they need to make decisions, and the confidence to let their loved ones live independently. A few examples:

·Zoe Care  bills itself as an “invesible eldercare assistant.” Once activated, the wall-mounted device connects to a person’s Wi-Fi, can detect falls and other physical activity. It can immediately alert a caregiver if ever it detects a cause for concern. So people can breathe easier knowing that help can automatically be summoned in an emergency.

·The Xander Kardian XK300 measures micro-vibrations without a wearable, allowing care providers and loved ones to track heart rate, respiratory rate, motion, and presence without cameras or microphones. This allows people to track their loved one’s vital signs long-term, providing invaluable context in discussions with their healthcare team.

These solutions and those like them are likely to grow in popularity in the coming years as more people wish to live independently while they age and the people who care for them want to remain involved and informed.

So Where Do We Go From Here?

Age Tech is here to stay. The question is how others might enter the category in a way that not only helps their own business, but also the quality of people as they age. No matter the category, brands looking to tap into the economic potential of this audience can do so by asking themselves a few, core questions:

–How might we collaborate with healthcare providers in unexpected ways to help them deliver quality care at ever-increasing scale?

–How might we deliver opportunities for fun and play that not only entertain our target audiences, but also keep them mentally sharp?

–How might we empower caregivers of the aging to take better care of themselves and those they love?