At present, there are over 960mn people worldwide who are over 60. By 2050, this number will have soared to 2bn, where approximately 400mn will be over 80 years of age.
It is therefore no surprise that Amazon is looking to develop new digital tools and solutions and tap into this rapidly growing market.
CNBC has reported that Amazon’s health team has been working with the US non-profit organisation AARP to look at new tools and solutions which will attract older generations and support them with everyday tasks.
Whilst the baby boomer generation is set to reach retirement, this particular group have embraced digital tools and are increasingly tech savvy and are already utilising technology on a daily basis. This area of the market will therefore increasingly favour bespoke, digital tools which can support them as they age. By gaining the support of this market, technology companies will also seek to remain competitive in what is becoming an area of increased interest of many.
Amazon’s launch of voice technology, Alexa, has been particularly popular with older generations. For many who live alone, it provides company and is able to answer basic questions. The technology has been implemented in a number of healthcare initiatives, where it will continue to be an essential tool in supporting the needs of such a growing population.
Amazon’s Vice President of Special Projects, Babak Parviz, recently revealed the company’s interest in developing tools for ageing populations and has claimed that it is something Amazon “deeply cares about.”
"We have looked at the older population in the context of health... and we know this group has a lot of issues and unmet needs," he said.
With homecare options increasingly favoured over traditional nursing and residential placements, it is no surprise that technology is playing a significant role in revolutionising the healthcare space and enabling greater independence, choice and flexibility. It is thought that the technology will become further enhanced and provide vital assistance within medication management, amongst many other advantages.
The company has also recently appointed the FDA’s first Chief Health Informatics Officer, Taha Kass-Hout to work alongside Parviz within its healthcare operations., highlighting that developing new tools in healthcare will be an area of increased focus for Amazon.
Its partnership with the AARP will therefore enable Amazon will learn what features will appeal most to this market and provide essential solutions to cater to this demand.