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Tech WELLcovered: Life stages fulfilled

Multiple authors
2022-10-31
Archived info
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In part one of Tech WELLcovered, we explored how tech is augmenting work and unlocking our true creative potential. In part two, we profiled how tech disruption is evolving how we have fun, creating vast possibilities for experiences tailored to our interests. Here, we highlight how innovation is helping you control your own destiny with improved guidance for every life stage.

KEY POINTS

  • Tech is helping you navigate future life stages with far fewer unknowns. Innovations like AI, machine learning, and genomic sequencing offer you the foresight to make well-informed choices that enhance the probability of fulfilling your full potential.
  • The investable opportunity sets fueling such progress span every industry, including companies in the financial services, health care, and consumer tech sectors leveraging AI, machine learning, cloud computing, and/or genomic sequencing technologies.
  • As these innovations offer enormous breadth and depth of investable opportunities, we think investors need to draw on a wide range of research resources to future-proof their portfolios.

How may AI help you?

Navigating new life stages — like education, relationships, health care, and retirement — has long been filled with uncertainty. In the past, you may have sought guidance from friends or relatives on the best path forward, read self-help books, or scoured the internet. But this advice was rarely data-driven and often not suited to your individual needs, making it challenging to chart a clear path to achieving your goals.

Today, in every life stage and across industries, tech innovations like AI and machine learning are harnessing big data to offer personalized insights and assistance to everyone. This progress reduces unknowns by using hard data to overcome human error and anecdotal inconsistency, boosting your probability of success by enabling you to make more-informed decisions.

The benefits (and drawbacks) of big data

The future will likely see companies combine data across your education, career, health, finances, and personal life. This will help offer synergistic, personalized guidance on how best to fulfill your aspirations and enable increasingly proactive and impactful decision making. For example, if genomic testing shows you are likely to require specific medical treatment in the future, a financial planning company may suggest ways to save enough to cover the related costs based on your finances. A career advisor may even propose new, higher-earning job opportunities based on your educational and career backgrounds.

While data-driven foresight has its merits, it has also raised privacy concerns. Companies will have huge repositories of personal data, including sensitive health and financial information. Data privacy and security will therefore continue to be key areas of risk, potential regulation, and consumer advocacy. The regulatory effort aims to ensure that customers retain control of their sensitive personal information and benefit from the resulting insights (and opportunities) made possible by this new technology, while mitigating the associated risks.


Source: US Food and Drug Administration statement, January 2019. | Source: ZDNet. January 2020. | Source: Company investor reports, 2021.

Authored by
brian-barbetta
Brian Barbetta
Global Industry Analyst
Boston
patodia-yash
Yash Patodia
Global Industry Analyst
Singapore
Bruce Glazer
Bruce Glazer
Global Industry Analyst
Boston

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