A new report has shed light on the state of the longevity industry in the UK detailing the history, present state and future of the industry in the United Kingdom.
The report uses comprehensive infographics to distill the report’s data and conclusions into easily understandable portions, and interested readers can get a quick understanding of the report’s main findings and conclusions in its 10-page executive summary.
The report seeks to document what makes the UK fertile ground for a global Longevity industry hub, and how that ground could be developed. The UK is an undoubtable world leader in both the finance and FinTech industries. There is growing evidence that it will become a global hub for AI, in the form of both an exponentially growing UK-based AI industry, as well as in the form of government initiatives which have prioritised development of Artificial Intelligence industry. Indeed, the UK government announced Grand Challenges poised to transform the nation’s future, which will be treated as priority areas of national development: Artificial Intelligence and The Ageing Society are among them.
If the UK government would apply a strategy for the synergetic development of these two industries, especially on the front of applying AI to preventive medicine and primary care, then United Kingdom would be in an excellent position to reap many synergetic resulting from the convergence of these two spheres, i.e. AI and Longevity, increasing healthy lifespans while decreasing the economic burden of The Aging Society.
Even more importantly, it is clear from our analysis both in the UK and globally, that the spheres of Finance, AI and Longevity, while most often being considered as separate industries with fairly little overlap, should in fact be more appropriately considered in combination and convergence. Our previous report, Global Longevity Industry Landscape Overview Volume II: “The Business of Longevity”, concluded that Longevity Industry does not consist solely of biomedicine, but that P3 Medicine (precision preventive personalised), the AgeTech market and the financial industry are also crucial subsectors of the Longevity industry, given the significant impact that societal ageing and Longevity have upon economies in general and the economic burden of healthcare, pension funds and insurance companies in particular, as well as the fact that multiple types of financial entities have the potential to tie their performance to quantitative measures of healthy longevity like HALY and QALY in order to help economies thrive in response to an increase in its citizens healthy longevity.
One of the strongest conclusions to come out of this report is that the United Kingdom has enough resources in each of three most crucial sectors – Longevity, Artificial Intelligence and Financial Industry – to be in a strong position to succeed; nonetheless, the nation should focus on cross-sector collaboration and synergetic convergence, to accelerate innovation and progress in the Longevity industry at scale.