Combined futures of aging and business innovation

Communications and convenience giant (Nasdaq: RIMM) RIM, the maker of the ubiquitous Blackberry, sees a number of defining trends ahead. These reflect the themes of my own research and are cornerstones of the MIT AgeLab.

Motley Fool’s Dan Dzombak January 26 article, “4 Key Trends from RIM’s Futurist Foresees,” reports on a talk given by RIM’s Manager of Futuristic Innovation and Technology, Joseph Dvorak, PhD. Dr. Dvorak identifies four trends affecting the future of the smartphone:

(1) Aging of the world: the average age of the planet in 2000 was 26 years, by mid-century it will be 36 and the number of people over 60 will triple, reaching almost two billion people;

(2) Connectivity – Smartphones, other devices, and wireless service providers will blur the activity, place, and trends we already see in social media and interaction;

(3) Empowered Consumers: Consumers will continue to adopt tools that help them monitor and manage their relationship with businesses, for example, social media advising on everything from restaurant options, financial services, to ‘hey, where is it? My Package?’

(4) Buying ‘securities’ (eg green consumers). Buying securities is not just for kids. Where there is a rise in ’causes of color’ (my catchphrase) – buy green, support pink, and help, aging baby boomers are increasingly interested in their social impact and legacy. That is, ‘what am I contributing and what will I leave behind?’

Knowledge and innovations

On their own, these trends are interesting and both business and government need to be aware of their potential future impact. However, the future of aging and innovation is a combination of these trends, not the extension of either.

What happens when older consumers are ubiquitously connected, empowered, and make purchasing decisions about values ​​beyond cost and quality? For example, what would wireless healthcare or care services look like in the pocket of a post-war elderly? Will ubiquitous computing power, social media, and value buying create virtual networks of service provider collaboration for paired boomers today and fragile boomers tomorrow? Can you imagine the emergence of a 24/7 transport service, always ‘visible’ on your green smartphone for a social network of ‘friends’?

The business opportunity is not simply to be aware of these trends, but to combine them, visualize competitive realities and see these alternative futures as drivers of product and service innovation.