CTA Foundation and IBM Launch Report Showing How New Technology Can Improve Lives for an Aging Society

06 Sep 2016, 00:00 AM CDT

ARLINGTON, Va.–(BUSINESS WIRE)–A new report, Outthink
Aging, from IBM and the Consumer Technology Association (CTA)™
Foundation – a public, national foundation with the mission to link
seniors and people with disabilities with technologies to enhance their
lives – reveals that meeting the needs of a growing aging population
will require new technologies, partnerships, ideas and business models.
The report also discusses how technology such as cognitive computing
will empower seniors to live longer, healthier and more independent
lives by preventing fraud and abuse, providing greater social
connectivity and improving access to vital information and services.

The report outlines the challenges of meeting the needs of the aging
demographic and gives recommendations for three core areas where the
intersection of mobile devices, cognitive computing and providers could
have the greatest impact on the essential concerns of older adults,
including:

Health: Access to high-quality healthcare encouraging both
physical and cognitive well-being
Connection: Capability to stay in touch with loved ones and
maintain an active role in their communities
Security: Ability to live safely in one’s home and have
protections against theft and financial fraud
Dignity and Independence: Respect and control over direction of
their lives

“Technology is fundamentally changing the way we live and can
dramatically improve our lives as we age,” said Gary Shapiro, president
and CEO, CTA. “Tech innovation will allow seniors to live healthier,
more connected lives and keep them more engaged with their families,
healthcare providers and communities.”

“The collaboration between IBM and the CTA Foundation is an excellent
example of the new types of relationships that will be necessary to meet
the needs of the growing aging population,” said Dr. Ruoyi Zhou,
director of IBM Accessibility Research. “The results of the study
outline new and innovative ways in which cognitive computing will
benefit millions of seniors around the world.”

Outthink Aging also describes the potential relationships and
innovative business models needed to create a new ecosystem that can
effectively deliver scalable, integrated technology-based solutions to
address these larger and more complex issues.

Additionally, the report shares some of the key concerns and challenges
of aging:

47 percent of respondents worry most about losing their memory and
suffering from dementia as they age
38 percent believe smart homes and the Internet of Things will best
help manage the aging process
35 percent believe discussing assisted/long-term care is the most
difficult conversation to have with their parents

“Technology does not replace the human element, but it’s a tool that
will enable the growing aging demographic and caregivers to better our
lives as we age,” said Stephen Ewell, executive director of the CTA
Foundation. “New partnerships between industry, nonprofits, academia,
government and the general public will form to accomplish these goals.
The CTA Foundation looks forward to working with IBM, the broader
technology industry and stakeholders to find ways to implement these
innovations and revolutionize the way we age.”

According to other research
from the CTA Foundation, the U.S. market for active aging technology now
encompasses 85 million Americans – more than one quarter of the national
population. That market represents a $24.4 billion market opportunity in
2015 that is expected to grow to $42.7 billion in 2020 – a 12 percent
compound annual growth rate over the next five years for tech products
that support a proactive way of living, balancing growing older with the
active pursuit of quality of life.

The IBM and CTA Foundation project was launched at CES® 2016 to look
specifically at how cognitive computing can help improve the way we age
or experience disability. At CES 2017, active aging tech will be on
display in the Accessibility
Marketplace featuring technology that can facilitate connections;
enhance learning, communication and/or mobility; and help improve the
overall quality of life for people with disabilities.

To access the full report visit: CTAFoundation.tech
or the IBM
Accessibility page.

About the Consumer Technology Association Foundation

The Consumer Technology Association (CTA) Foundation is a public,
national foundation affiliated with the Consumer Technology Association.
It was established with the mission to link seniors and people with
disabilities with technologies to enhance their lives. The Foundation is
focused on strategic support of programs to impact these communities and
has launched its first series of grants in 2012. It also serves to
facilitate dialog between industry, consumers, government, advocacy
groups and other key stakeholders around important issues. For more
information on the CTA Foundation please visit CTAFoundation.tech.

About Consumer Technology Association:

Consumer Technology Association (CTA)^TM is the trade
association representing the $287 billion U.S. consumer technology
industry. More than 2,200 companies – 80 percent are small businesses
and startups; others are among the world’s best known brands – enjoy the
benefits of CTA membership including policy advocacy, market research,
technical education, industry promotion, standards development and the
fostering of business and strategic relationships. The Consumer
Technology Association also owns and produces CES^® – the
world’s gathering place for all who thrive on the business of consumer
technologies. Profits from CES are reinvested into CTA’s industry
services.

UPCOMING EVENTS

Innovate! and Celebrate – Register
September
20-22, San Jose, CA

CES Unveiled Prague – Register
October
20, Prague, Czech Republic

CES Unveiled Paris – Register
October
25, Paris, France

CT Hall of Fame Dinner
November 9, New York, NY

CES Unveiled New York
November 10, New York, NY

CES Unveiled Las Vegas
January 3, Las Vegas, NV

CES 2017
January 5-8, Las Vegas, NV

CES Asia 2017
June 7-9, Shanghai, China

Contacts

Consumer Technology Association (CTA) Foundation
Danielle
Cassagnol, 703-907-5253
dcassagnol@CTA.tech
www.CTA.tech
or
IBM
Tim
Powers, 773-750-7030
tjpowers@us.ibm.com
www.ibm.com/able