The future of health, wealth and longevity services rests on a collaborative approach between governments, health providers, health and long-term care insurance companies, employers and technology companies. This shift is driven by population aging and lower fertility rates, urging governments to explore new funding models and flexible retirement options, improving happiness and reducing economic inertia. Platform-based technology plays a key role in service integration, allowing data sharing and exchange of goods and services, providing customized solutions that promote healthy aging and economic well-being. This integrated ecosystem enables individuals to make informed decisions about their health, wealth and lifespan.
The World of 2030
Focus on prevention and welfare: Healthcare system partners will invest heavily in preventive care and welfare initiatives to promote healthy aging, reduce healthcare demand and costs, increase labor productivity, and reduce economic inactivity. As employers, they cultivate an inclusive workplace well-being culture in supporting flexible work arrangements, ongoing learning, and physical, mental and financial well-being. Employee engagement and retention: Employers identify potential risks such as employee burnout and address the underlying causes of absence and turnover. They use predictive analytics and big data to develop key targeted happiness initiatives to attract and retain talent, support them in returning to work, and enable individuals to stay financially active beyond their traditional retirement age. Rethinking health insurance and pension policy design: AI and big data have revolutionized health and finance protection to enable analysis of vast health-related data sets, identify trends and predict costs. Public and private stakeholders are partners to improve health equity: System partners are actively involved with the community, support health and financial literacy initiatives, promote well-being, and narrow down the health western gaps between income groups.
Overcoming the constraints of crosscutting
There are several cross-cut constraints that can affect forecasting (incorporating the right skills and talent, funding models, regulatory approaches, and data governance). Prediction can be achieved by turning the constraint into an enabler as follows:
Invest in ongoing learning, digital skills and data security and co-creation strategies to enhance and retrain individuals to help people stay healthy and financially safe to protect consumers and improve financial literacy, anti-disability and discrimination. Regulations also encourage the adoption of technically-responsive innovations between financial, health and social services with robust cybersecurity measures, transparent data governance practices, and a user-friendly interface to provide personalized and effective health and wealth solutions.
Evidence for 2024
The Agetech industry is growing rapidly. Agetech refers to digital and mechanical technology aimed at extending physical health, housing, insurance, function and well-being for seniors, including 300 startups in a market estimated to reach USD 20 by 2025 in 2024. The pound for 2021 has increased from £45 billion in 2019. Presentism is the biggest contributor (approximately £24 billion a year). Importantly, an analysis of employee mental health interventions found that, on average, every pound to support people's mental health, employers get nearly 4.70 pounds back to productivity gains. Early interventions such as cultural changes throughout the organization and education provide the highest returns.
How AI/genai allows healthier and wealthier aging
AI can power customized wellness programs and adjust insurance coverage based on individual health data. A combined integrated system of health records, insurance data and real-time health metrics provides a holistic view of patient health and can enhance both preventative and acute care.
The Genai model analyzes health data, genetics, and lifestyle factors to predict potential health risks, allowing personalized recommendations for nutrition, mobility and brain health, leading to better outcomes and reduced economic inertia. AI algorithms can help individuals with financial planning, investment strategies, wealth management, and ensure financial security during retirement. AI-driven platforms and devices can fight loneliness by fostering social interaction and enhancing independent lives through tools such as virtual peers, smart home devices, and accessibility AIDS.
