The European Business Review

EMBRACING AI: THE NEXT FRONTIER IN ELDERLY HOUSING

The elderly housing sector has been somewhat slow in the adoption of technology and artificial intelligence, compared to other industries. Contrary to popular belief, AI does not necessarily signify a loss of jobs or diminished human interaction. Rather, it carves out more space for meaningful human engagement by streamlining routine tasks. AI can be instrumental in promoting human interactions with senior residents and discovering innovative solutions for monitoring staff well-being, ultimately putting human capabilities to their best use – fostering human connections.

To date, only a scant number of companies and organisations in Finland have shown serious interest in integrating AI into this field. Finnish elderly housing company Foibekartano, is at the forefront, forging a new path in the company and in the health and social care industry. Embarking on the path of AI development, Foibekartano adopts a pioneer mindset in diverse housing services for the elderly and with advanced thinking.

The company took part in the AI-TIE AI accelerator, coordinated by Haaga-Helia University of Applied Sciences and implemented together with Laurea University of Applied Sciences and a network of partners. This helped the company gain AI understanding from the business perspective and to pilot first AI solutions. Some of the key outputs and lessons from the experience are depicted next. We conclude the article with practical tips and insights for SMEs venturing on an AI journey.

SMES OFTEN EMBRACE A PRAGMATIC APPROACH TO AI: A CASE OF FOIBEKARTANO

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