While the increased longevity observed in many parts of the world represents one of the crowning achievements of the 21th century, these trends together with declining birth rates present significant implications and challenges for nearly all sectors of society, including labor and financial markets, the demand for goods and services as well as family structures and intergenerational ties. In the coming decades, we believe many countries are likely to face fiscal and political pressures in relation to public systems for health care, pensions and social safety nets for a growing older population. Luohan Academy recognizes the urgency of this issue and believes digitalization, properly used, can play an essential role during the demographic transition. Workplace design and new productive opportunities for business will facilitate our transition, and public policies need to be designed to better enable digital innovation to support the transition to an aging society.
