How Entrepreneurs Can Take on the Future of Aging Using Artificial Intelligence

Thanks to daily advances in healthcare technology, people are living longer and longer. As a nation, we're nearing a historic first: It is predicted by the year 2034 that there will be more people over the age of 65 than people under the age of 18. A larger senior population also means an associated rise in cost of care needed to sustain quality of life for more and more citizens as they continue towards their golden years. It's a wonderful development, but it necessitates change, and entrepreneurs are the perfect people to lead the charge. 

The strain of cost will be felt not only on a global level, but most directly on a family level. The average cost of simply maintaining a worthwhile existence for the aging population is staggering. Just consider these averages: 

• $225 a day or $6,844 per month for a semi-private room in a nursing home
• $253 a day or $7,698 per month for a private room in a nursing home
• $119 a day or $3,628 per month for care in an assisted living facility 

The solutions to these costs and challenges can most effectively be provided by people who aren’t tied to traditional thinking on healthcare, aging or problem solving. They'll need to come from the complex, agile and innovative mind of the modern entrepreneur, who is wired to look at an age-old problem and think of multi-dimensional solutions that no one has considered before. And let’s not forget that the life you may save and enhance will end up being your own. 

Work with AI to improve memory function. 

Consider that in 2019, Alzheimer's and similar conditions will cost the U.S. an estimated $290 billion, and by  2050, these costs could rise as high as $1.1 trillion. How can you innovate to lower the number of cases and the associated costs? It could be through cognitive testing software that increases brain health, through early detection of indicators of dementia and Alzhiemer’s or something else entirely. This is a problem begging for a solution from the entrepreneurial community. 

Here are some entrepreneurial opportunities associated with the future of aging.