Dubai: The World Governments Summit Organisation (WGS), in collaboration with management consulting firm Oliver Wyman, has launched a new report titled 'Longevity: Opportunities and Considerations' that delves into the opportunities and challenges posed by the increasing numbers of senior citizens in future societies. This release coincides with the significant advancements in medical technology that are enhancing human health and promoting longevity.
According to Emirates News Agency, the report examines the societal transformations over the past 75 years, particularly in medical technology, sanitation, preventive care, and lifestyle choices, which have collectively improved human health and increased longevity from 45 years in the 1950s to over 73 years today. It concludes that rising longevity offers significant opportunities, such as greater economic contributions and healthier lives for future generations. However, it emphasizes a range of challenges that require proactive approaches from governments, including enhancing healthcare systems, implementing agile workforce policies, and developing infrastructure to support senior citizens.
The report highlights the issue of sustaining economic growth in aging societies and suggests effective tax strategies to help governments manage the financial implications of increased longevity. It underscores the importance of investing in innovative solutions and fostering public-private partnerships to improve the wellbeing of senior citizens while developing responses to the challenges posed by extended lifespans.
Mohamed Yousef Al Sharhan, Managing Director of WGS, emphasized the rapid technological advancements and innovations, particularly in AI, which present promising opportunities and significant challenges across various aspects of life. He noted the healthcare sector's potential transformation, driven by technologies that will impact public health and life expectancy, urging governments to adapt to the changes this shift will bring.
Al Sharhan stated that the report aligns with WGS's role as a centre for developing government knowledge and experience, providing a platform for designing forward-thinking solutions to future challenges. It responds to the global focus on the impact of technology and innovation on human health and the implications on future society with increasing numbers of senior citizens. These developments necessitate policies and strategies that transform this shift into opportunities to enhance wellbeing.
Adeel Kheiri, Partner, Health and Life Sciences at Oliver Wyman - India, Middle East, and Africa, added that as human longevity science gains momentum, governments must prepare to harness longevity innovations and prepare societies for the implications of increased human longevity. The report serves as a roadmap for governments and private organisations, guiding them to adapt and thrive in a future where longer lives translate into richer contributions to economies and communities.
The report explores the concept of longevity, offering insights into near-future innovations and their societal impacts. It focuses on the implications of increased longevity on government and society, analyzing its effects on labor market policies, retirement age, pension systems, and healthcare infrastructure. It stresses the need for governments to design strategies and policies that turn longevity into a national asset and driver of prosperity, while balancing ethical considerations in health-enhancing technologies with cost and regulatory frameworks.
Several innovative case studies are featured, including Altos Labs in the USA, which developed technologies to reprogram cells to reverse aging; Hevolution Foundation, a Saudi-based nonprofit promoting research and entrepreneurship in longevity science; and PureHealth, the UAE's largest integrated healthcare network, offering innovations to enhance quality of life.
The World Governments Summit is a global, non-profit organisation dedicated to shaping future governments, focusing on harnessing innovation and technology to address universal challenges. It serves as a hub for experience exchange in government operations, future foresight, and technological innovation, connecting thought leaders and policymakers to promote human development and improve social wellbeing.
Oliver Wyman, a business of Marsh McLennan, is a management consulting firm combining deep industry knowledge with expertise to help clients optimize their business operations. Marsh McLennan is a global leader in risk, strategy, and people, advising clients in 130 countries with annual revenue of over $24 billion.