GHP Q2 2023

NEWS Investing in the home care industry is a smart move with the rise of AI As Artificial Intelligence (AI) and other advanced technologies are continually being developed, various industries, including healthcare, are undergoing revolutionary changes. In this context, entrepreneurs considering long-term investment options are naturally concerned about the potential replacement of certain jobs by machines – posing a difficult decision-making challenge for them. Here, David Glover, Joint CEO of Caremark - one the UK’s leading home care companies, with 120 offices across the UK – discusses how the home care industry is an exception to the rule, and why investing A job robots can’t replace! in a home care business and nurturing care assistants is still a wise choice: “With the increasing demand for home care services, investing in a home care franchise has become a promising opportunity for entrepreneurs. The industry has been growing for years, and with an ageing population, it shows no signs of slowing down. So, while AI may dominate in other sectors, it is unlikely to affect the care sector in the same way. “Certainly, AI can assist with certain aspects of home care, such as monitoring vital signs or providing medication reminders. However, it cannot replace the human connection and emotional support that patients require. In addition to offering everything AI provides, care assistants enable people to truly live, laugh, smile, and share emotions. They facilitate individuals in living life on their own terms – from feeding the birds in their garden, baking their favourite cake, or even flipping through an old photo album together. “Care assistants do more than give exceptional care; they become companions and friends to those they care for. They offer vital emotional support and a listening ear, something that machines cannot replicate. This personal connection is particularly significant for the elderly and individuals with disabilities who may experience isolation or loneliness. The human touch is indispensable for their mental and emotional well-being.