New AI Platform Helps Families Financially Plan for Senior Care Needs
-
Waterlily is an AI platform that predicts when aging seniors will need long-term care and helps families financially plan and have important conversations.
-
The platform gathers health, demographic, and financial data to make personalized predictions about care needs and costs.
-
Financial advisors and families can use Waterlily to model different long-term care scenarios and funding strategies.
-
Starting the long-term care planning process early is key, as costs are projected to double every 12 years.
-
While promising, AI prediction models also raise privacy, security, bias, and other ethical concerns that must be addressed.