Whatever happened to tech-enabled care?

If you read my blog you know that I have been pondering why the care industry seems immune to the benefits of technological innovations?  Why, despite a booming business in running conferences, competitions, hackathons, technology accelerators and all the other wonderful sounding events, so few start-up companies have survived long enough to deliver any value - let alone profits!

I know there are some great technology start-ups, with really innovative and robust business ideas,  but most of ones that are for ever being reported by the Ageing Business look like mediocre technology seeking a problem to solve.

I thought that it was pointless to keep 'going on' about the subject. You either believe me or not. That said, I have just read the latest blog post from Laurie Orlov who seems to be making the same point. At least I know I am not the only person with this opinion.

The Ageing Business should step back for a moment and ask itself why tech and care don't seem to be mixing. Maybe start by reading Laurie's blog. Dick Stroud

The 60+ will generate over half of all urban consumption growth in the developed countries

It is always nice to have a new quote from McKinsey about the ageing business.

This one come from a very recent publication Navigating a world of disruption.

The retired and elderly over 60 in many developed countries are increasingly important drivers of global consumption. The number of people in this age group will grow by more than one-third, from 164 million today to 222 million in 2030. We estimate that they will generate 51 percent of urban consumption growth in developed countries, or $4.4 trillion, in the period to 2030. That is 19 percent of global consumption growth. The 75-plus age group’s urban consumption is projected to grow at a compound annual rate of 4.5 percent between 2015 and 2030. In addition to increasing in number, individuals in this group are consuming more, on average, than younger consumers are, mostly because of rising public- and private-healthcare expenditure.

If nothing else, AARP is persistent in promoting the value of the 50+

When I first became involved in the Ageing Business - a long, long time ago - AARP had been at it for years. And here they are today, still plugging away to make corporate America aware of the economic values of oldies. AARP still defines older as being those aged 50+ - that is 132 million Americans.

Let's not get sidetracked by definitions of old. My reason for writing this blog posting is to comment on AARPs recent report about how the 50+ use technology (2019 Tech and the 50+ Survey). What caught my attention was the press release about the organisation's attendance at CES 2019 where it showcasing the ' $7.6T in Annual Economic Activity for Americans aged 50+'

There is no doubt that the tech uptake amongst older consumers has increased (that's stating the obvious) but I have my doubts about AARP's forecasts for the usage levels in the older age groups - especially the 70+.

The research sample that is providing all these forecasts is 1,456 Americans aged 50+ who took part in an online survey. Now maybe the clever people at the research company made allowances for the significant numbers of older people who are not online and those with very basic digital skills. Surely, they don't believe their research sample, who is willing and capable of completing an online survey, is representative of the range of digital interests of the old age group?

So I am holding up a warning sign. The graphs are great and it contains lots and lots of numbers but you need to remember the research sample and how they were canvassed. My guess is that it over states the level of digital literacy and engagement.

Hopefully a bright spark from AARP can convince me I am wrong. Dick Stroud