AI Technology for caregiving is a growing market that's expected to reach $225 billion dollars by 2024.

AI Technology for Caregiving is on the Rise

At the annual Consumer Electronics Show (CES), AI smart home and health technology emerged as two fast growing marketplaces. Due to a rapidly expanding aging population, demand for intelligent eldercare solutions is on the rise. In response to this demand, the tech world is looking toward AI technology for caregiving solutions. Presently, innovative tech like the Sugey One is set to revolutionize home care as we know it.

Consumer Electronics Show 2020

If CES 2020 in Las Vegas proved anything, it’s that AI technology for caregiving is on the rise. Considered “the proving ground for innovators and breakthrough technologies for 50 years,” CES is a major trade show for new consumer products. In addition to providing research from the Consumer Technology Association, CES also acts as a gauge of market trends. Based on CES 2020, we can expect to see major expansion in the digital health and home care markets.

One major takeaway from CES 2020 was the 25% increase in digital health and wellness exhibitors. According to Steve Koenig, VP of Research at the Consumer Technology Association, this speaks to a larger cultural shift towards a “digital health lifestyle.” From wearables to at-home diagnostics, the digital health lifestyle is all about enabling consumers to take charge of their health. By utilizing AI, these remote monitoring tools are able to extend health care beyond the doctor’s office. There is no doubt that AI technology is changing the the face of healthcare. Moreover, the digital health lifestyle doesn’t seem to be a passing fad. In fact, Koenig expects digital health tech will be a defining trend of the decade. 

Another emerging trend is the use of AI in home care. Already, smart home tech can help protect the elderly by preventing wandering, tracking eating and sleeping patterns, and alerting caregivers to changes in routine. Moving forward, advances in AI have the power to create smart environments that help care for their residents. Business Insider predicts this population shift will push the U.S. home care market to reach $225 billion by 2024.

New Tech for an Aging Generation

Tech companies are finally looking to invest in elder care, and it’s not a moment too soon. After all, by 2060 the number of Americans age 65+ is expected to double.  Unbelievably, the retirement of Baby Boomers will make 1 in 5 Americans retirement age by the end of the decade. This huge demographic shift demands innovative solutions for eldercare outside of nursing homes. 

87% of adults age 65+ want to stay in their home as they age, making AI technology for caregiving a necessity.
87% of adults age 65+ want to stay in their home as they age, making AI technology for caregiving a necessity.

According to the AARP, 87% of adults aged 65 and older want to stay in their home as they age. Staying at home has great benefits for the elderly and is cheaper than nursing homes. Unfortunately, home care also comes with inherent risks. Those health and safety risks are now lower than ever thanks to smart home technology. Looking ahead, home systems like the Sugey One will play a key role in keeping a growing older generation safe and independent. 

The Sugey Approach to Home Care

CES 2020 has shown what we at Sugey have known for years: it’s time for a home care revolution.

The Sugey approach is simple; we strive to improve the quality of life for individuals who want to live independently at home as they age. When our founders couldn’t find a suitable home care system for their family, they decided to make their own. Consequently, the Sugey One was born. The Sugey One is an in home AI platform that uses sensors and specialized cameras to monitor individuals’ behaviors and aid in daily living and safety. For example, it tracks things like sleeping or eating to predict patterns and learn when something is off. Perhaps most importantly the Sugey One is a completely cloud-free platform. This means that all of your private information is stored locally to ensure it remains secure.

AI Technology for caregiving like the Sugey One will play a major role in keeping an ever expanding older generation safe and independent in the years to come.
The home care revolution is here, and it’s name is Sugey.

The Sugey One is on track to upend the home care marketplace. As the U.S. heads toward an aging crisis, technology like the Sugey One is rewriting the rule book on eldercare.