Population Aging 2017

As political controversy flares in the US and our European friends prepare to “vacation” for the month of August, two parallel events are cutting through the summer heat and distractions as clear reminders of the global megatrend of population aging.

The first is the annual Alzheimer’s Association International Conference (AAIC), held in London next week, which will bring together Alzheimer’s experts, innovators, advocates and caregivers to develop strategies to combat the disease. Second, immediately following AAIC, the once-every-four-year International Association of Gerontology and Geriatrics (IAGG) conference will convene about 6,000 from medicine, healthcare, economics, and retirement professions, including industry, academics, non-profits, and even old people themselves.

Here are seven reasons why these overlapping events, and the overall aging trend they represent, matter at least as much as whether Donald Trump, Jr. knew how to behave:

1. As a consequence of the aging of all societies as they modernize and urbanize, Alzheimer’s is fast becoming the pandemic of our 21st century. The latest signal is the decision by the FT Foundation – led by former UK Prime Minister David Cameron, who introduced dementia onto the G7 agenda – to concentrate its charity on Alzheimer’s research. As reported: “Dementia affects an estimated 50 million people worldwide, with numbers increasing rapidly as the global population ages. On current trends the total in 2030 will be about 75 million.” Think HIV/AIDS or the Environment and you will appreciate how important philanthropy is to political agenda setting.
2. Norway responded to its aging population and steadily growing lifespans by raising its official retirement age to 73. This is a landmark signal, as it is one of the first countries to update the design of a social security system to reflect the dramatic increases in longevity that we have seen in the past half century. It serves as both a possible model for pension reform everywhere, as well as a broader signal of the need to revamp public and private policies for the needs and opportunities afforded by 21st century longevity. That we’ve been sitting with the 1880 Bismarck system set at age 65 is as bankrupt as it is laughable.
3. Japan’s super-aging society is investing in artificial intelligence, in part to fill their employment gap as they continue to see their birthrate plummet to a stunning 1.2 births/woman. This departs dramatically from concerns in the US about automation destroying jobs – instead, Japan is embracing a vision for a society that uses robots and technology to cope with aging. Prime Minister Abe explains that “Japan has no fear of AI. Machines will snatch away jobs? Such worries are not known to Japan. Japan aims to be the very first to prove that growth is possible through innovation, even when a population ages as it declines.”
4. Ever the haven for innovation, America’s growth industry of private-sector elder home care is expanding across the globe as its value is fully recognized. Notable is that the Omaha-based Home Instead Senior Care received the UK’s Queen’s Award for Innovation, “the UK’s highest accolade for business success,” validating the need for and the success of this market-driven innovation.
5. The WHO’s newly minted Ageing and Health Strategy is reframing how we approach global public health as measured by functional ability – wellness for activity as we age – and not just absence of disease. The proactive strategy towards aging prioritizes age-friendly environments, health systems, and better long-term care. This is a paradigm-shifting plan that rightly recognizes the importance of overall wellness and disease prevention efforts, especially for older adults who are at greater risk for non-communicable diseases and conditions of aging, such as skin, vision, bone, and oral health deterioration.
6. The traditionally youth-obsessed tech sector is responding to the immense older consumer market. From Silicon Valley giants to freshly created startups, more and more of these companies are recognizing not only the need to help a longer-living, older population remain in their own homes, but also the economic boon that making such advances can bring for the companies.
7. The highly-respected Economist magazine dedicated its July 8th, 2017 issue’s Special Report to “the young old,” further signaling the expansion of the aging conversation into the global psyche. The Special Report argues that “making longer lives financially more viable, as well as productive and enjoyable, requires a fundamental rethink of life trajectories and a new look at the assumptions around ageing,” providing a fitting summation of the dynamics and trends of aging that are transforming economies and societies.

Surely, we will all be better off if a decade from now, what will stand out about our current moment is not the string of political imbroglios, but the signs of innovation to transform the aging of society to a virtue associated with technology, economic growth and better lives. Convening will not make for progress, but they can remind us where to concentrate our efforts.