Aging "Gray Tsunami": Challenge or Opportunity
Written by: Richard Caro. Posted: July 18, 2013.
The world's growing elderly population is starting to get a lot of attention. As usual, there are several ways to look at this looming gray tsunami. The demographics are typically framed as "a challenge". I prefer to think of this as an opportunity.
Glass half empty or half full?
Challenge:
Large and growing population of elderly people. Fewer young people to take care of them. Less and less spare money in the wealthy world economies to pay for aging services. Predictions of shortages of doctors, nurses, and caregivers.
Opportunity:
Affluent baby boomers want it all, and have lots of assets. With powerful computers in everyone's pockets (smart phones and tablets), low cost, pervasive networking and communication, and rapid advances in fields like robotics, there should be huge opportunities for technology to do what people cannot or will not do anymore, and transform the lives of these young-at-heart boomers.
Thoughts?
[This post modified and reprinted with permission from SciencetoProfits blog by Richard Caro.]
Last Updated: May 13, 2020.
Richard Caro
Scientist turned entrepreneur. Strategic adviser to emerging growth companies. Occasional angel investor. Oxford D.Phil. (Physics). Co-founder: Tech-enhanced Life.
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