• India's government, led by Dr. VK Paul, is improving senior care, presenting a potential $10-15 billion opportunity for the sector.
• AI in manufacturing faces challenges with data quality, but 40% of manufacturers plan to increase investment in AI and machine learning.
• Banks are investing heavily in technology talent, with compensation expenses growing 4.1% year over year.
• The future of real estate and space industries is being shaped by sustainable practices and advanced technologies like 3D printing.

India's government is making strides to improve senior care in the country, with Dr. VK Paul, a member of the NITI Aayog, leading the charge. He emphasized the need for a comprehensive approach to senior care, taking into account physical, digital, and financial security. Dr. Paul also highlighted the role of institutions like the Association of Senior Living India (ASLI) in helping the government draft policies that align with societal values and goals.

The senior living sector in India presents a significant opportunity. Projections show that by 2050, one in five Indians will be a senior citizen. However, the sector currently has a penetration of only 1.3%, compared to 6% in mature markets. This presents a potential $10-15 billion opportunity for the senior living sector.

ASLI, in partnership with McKinsey & Company, released findings from a survey exploring the priorities, behaviors, and aspirations of India's senior population. The survey serves as a wake-up call for stakeholders to acknowledge the shifting priorities of India's senior population.

AI and Manufacturing: A Match Made in Heaven

The enthusiasm surrounding AI in the manufacturing industry is shifting from unbridled excitement to a more nuanced and critical evaluation of its real impact on business outcomes. A significant number of industrial product manufacturers are already leveraging AI tools in their operations, and over 40% plan to increase investment in AI and machine learning over the next three years.

However, challenges still exist, with nearly 70% of manufacturers indicating that problems with data, including data quality, contextualization, and validation, are the most significant obstacles to AI implementation. To overcome these challenges and maximize ROI, manufacturers might consider starting with use cases where there is already a strong data foundation in place.

In the banking and capital markets sector, compensation expenses grew 4.1% year over year, to US$149.6 billion in the first half of 2024. This was mainly due to performance-linked rewards in revenue-generating businesses, such as trading, wealth management, and investment management. At the same time, banks are paying huge sums to attract technology talent in fields such as machine learning and generative AI.

The Future of Real Estate and Space Industries

In the real estate sector, organizations are looking to reinvigorate their workforce for a shift towards more sustainable practices. According to Deloitte Global's 2024 Gen Z and Millennial Survey, they value climate action, mental health, and work/life balance.

In the space industry, in-space manufacturing involves using the unique environment of outer space for industrial production. The microgravity environment eliminates forces of sedimentation, convection, and vibration and can be used to better isolate material from containers, which can enable us to study processes and make things that cannot be done on Earth.

Advanced technologies, such as additive manufacturing (also known as 3D Printing), in space could also enable on-demand manufacturing components and spare parts, reducing the need to launch these items from Earth. For instance, Mitsubishi Electric Corporation has developed an in-orbit additive manufacturing technology for 3D printing satellite antennas in outer space, which could further reduce costs and create more space on the rocket.