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Week ending 08-10-2018: tech companies are looking to expand to the senior community
The CEO of Parasol Alliance, Amber Redmann, discussed the eventual effect of smart technology on the baby boomer generation. “60% of Americans over the age of 65 are now online,” which emphasizes that most of the senior population is ready for advanced technology. The senior living industry could especially benefit from new technology, as long as it is willing to embrace change and evolve. Read more.
iBeat launched its latest smart watch, a potentially life-saving device that utilizes AI to detect cardiac arrest, the single largest killer in the world. The company’s breakthrough smart watch monitors the heart activity of users at all times. iBeat pointed out the huge potential market – the baby boomers – for the medical alert systems. This market alone is expected to grow to $11 billion by 2025. Read more.
A Crowdfunding Campaign launched by iDeskMD is transforming seniors’ quality of life using AI-defined, cloud-based technology. Since people are living longer, the elderly population is rapidly growing, and the cost of medical care is increasing. To combat the large costs, iDeskMD introduced AilaOS, or “Artificial Intelligence Living Assistant”, which has elder-care related features such as IoT health sensors. Critical vital signs will be loaded straight into AilaOS, which can share the actionable data points with the entire care team in real time. Read more.
Google acquired Nest home products for $3.2 billion in 2014 under Google-parent Alphabet. The move was made in order for the company to focus on its elder-care related features by bringing more cohesion between Nest’s smart home products and Google AI software. Read more.
Provider investment plans for elder care are looking to move from hospital to home because of the difficulty of monitoring healthcare spending. This means moving away from traditional models and toward those that offer care somewhere other than a hospital or institution. As a result, the traditional nursing home model, and others like it, might be a thing of the past. Read more.