Dmitry Kaminskiy Presents on Longevity, AgeTech and the Financial Industry at the 2018 Disruption Summit “Disruption and the Ageing Society”
On September 4th Dmitry Kaminskiy participated in two Panel Sessions at the 2018 Disruption Summit hosted by UK Research and Innovation alongside with a number of participants involved in advising the UK government on matters related to ageing and longevity, including Hazel Harper (Senior Innovation Lead of Healthy Ageing and Digital Technologies for Innovate UK, UK Research and Innovation), Anna Dixon (Chief Executive at the Centre for Ageing Better), Eric Kihlstrom (Interim Director of the Healthy Ageing Industrial Strategy Challenge Fund) and Andrew Scott (Professor of Economics at London Business School and author of The 100-Year Life).
The first panel session, moderated by Tina Woods (CEO of Collider Health and an AI advisor to the NHS), was entitled "Healthy Ageing and the Longevity Economy in the ‘100 Year Life’", while the second, moderated by Stephen Johnston (Co-Founder of Aging2.0), was entitled “Creating a Consumer-Driven Marketplace for Healthy Ageing”.
Dmitry spoke on the subjects of why phenotypic age is more important than chronological age when discussing lifespans, when we can expect to have practical solutions for lifespan and healthspan extension, and how we can invest in longevity for broader social good. He then led a discussion about a set of emerging trends and technologies that are not always associated with the Longevity Industry. It is natural for discussions on the Longevity Industry to focus on advanced biomedicine, and indeed, in the long term it is advanced biomedicine and its convergence with things like AI and precision medicine that will have the greatest impact on the sector in the years to come. But, there is also a set of nearer-future fields and industries that will come to play an important role in the emerging Longevity Industry: namely, the AgeTech industry (convergence of IT-technologies and FinTech and elderly care sphere that can help the elderly remain a functional part of the workforce) and the financial industry.
First, Dmitry spoke on the how specific novel technologies like NeuroTech and SleepTech can help deter the effects of cognitive aging, and how EdTech can be harnessed to facilitate lifelong education, helping the elderly stay equipped to face the challenges of rapidly-changing industry landscapes. He then turned to the topic of FinTech for the elderly, touching on the topics of AgeTech banks, new forms of wealth management for the elderly, and how banks may come to serve their clients in unexpected ways - such as through helping them improve not only their long-term wealth, but their long-term health as well. He also discussed how the UK has all the necessary elements to become a financial hub for the rising Longevity Financial Industry, with great potentials in the areas of AgeTech-focused investment funds and accelerators for elderly entrepreneurs.
Lastly, he turned to the topic of Novel Financial System and its intersection with the Longevity Industry, discussing how pension funds need to fundamentally reformulate their business models in order to accommodate for the coming age healthspan extension, and on the subject of financial derivatives tied to the health of both client-bases as well as entire demographics.
Dmitry made specific note that there are 1 billion people on retirement globally, and 10 million in in the UK only. This growing threat to outdated model of the past named “Silver Tsunami” but this at the same new it is the new multi-trillion market for the progressive business.
The future of the longevity industry not only has the logical potential to become the wealthiest industry in all of history, but also represents the most ethical way of doing business.