Eye on Asia

Technology can turn Asia’s ageing population problem into a longevity dividend

As advances in technology extend productive lifespans, cut the physical demands of many jobs and enable remote working, Asia should start seeing 80 as the new 60

To tap the silver generation, governments and companies must invest in tech training and ditch the old ageist mindset

3-MIN READ3-MIN

An elderly man exercises in Hong Kong’s Central district on December 30, 2020. Photo: Nora Tam

Patrick Winter, an accounting professional with more than 30 years’ experience, is EY Asia-Pacific area managing partner.

Published: 10:00pm, 28 Aug 2022

The Covid-19 pandemic has prompted a fundamental shift in attitudes towards technology in the workplace. Concerns that computers would render workers obsolete are giving way to the appreciation that technology could free humanity from mundane tasks and enable more flexible ways of working and interaction.

Crucially, digital technology will help keep older workers in employment and bring retirees back by permitting more flexible work arrangements and reducing the physical or cognitive demands of certain jobs. If mindsets can change, these advances could create an economic growth opportunity while addressing the problem of supporting a growing elderly population.

This could be a vital breakthrough in the Asia-Pacific, which is ageing faster and more dramatically than the rest of the world. By 2050, the region will be home to around 1.3 billion people aged over 60 years – triple the number in 2010 – accounting for a quarter of the population.