In-Home Senior Care Powered by Care Daily Artificial Intelligence and Supported Through KORE IoT Connectivity and Managed Services

Rhea-AI Summary

KORE (NYSE: KORE) has partnered with Care Daily, an AI-driven in-home senior care company, to enhance Connected Health solutions for seniors. With the senior population projected to reach 95 million by 2060, KORE aims to support the aging-in-place trend by providing scalable IoT connectivity and managed services. Care Daily's AI-assistant platform, validated for its efficacy in aiding caregivers, will leverage KORE's services to streamline operations and hardware logistics. This collaboration seeks to empower seniors with safe, autonomous living while facilitating real-time health monitoring.

Positive

• Partnership with Care Daily enhances KORE's IoT service offerings in the growing senior care market.
• KORE's IoT solutions are designed to support the aging-in-place trend, which could significantly increase demand for their services.
• Care Daily's AI platform has been scientifically validated for effectiveness in reducing anxiety and improving sleep for dementia caregivers.

Negative

• None.

KORE's comprehensive suite of IoT solutions and services simplify the complexities involved in providing an "aging in place" Connected Health solution that improves the quality of life for seniors

ATLANTA, Nov. 29, 2022 /PRNewswire/ -- KORE (NYSE: KORE), a global leader in Internet of Things (IoT) solutions and worldwide IoT Connectivity-as-a-Service (CaaS), announces its collaboration with Care Daily, a technology-based, in-home senior care company driven by artificial intelligence (AI) and IoT.

The senior population in the United States is anticipated to grow to 95 million by 2060, accounting for 23 percent of the nation's population. With the significant growth in the senior demographic comes an aging-in-place movement. An AARP study reported that 77 percent of aging adults surveyed desire to stay in their home versus aging in a facility.  

Care Daily is a Software as a Service (SaaS) company based in Silicon Valley with an award-winning AI-assistant IoT platform aimed at helping seniors age in place safely and autonomously while also providing communication with healthcare providers and family. The core of the solution is the AI platform that is fully customizable and generates comprehensive analytics derived from data collected through ambient sensors and devices placed in the home communicated through scalable wireless connectivity, which is where KORE provides its services.

"KORE is excited to provide IoT connectivity and managed services for this revolutionary Connected Health venture," KORE President and CEO Romil Bahl said. "IoT is driving innovation in healthcare and beyond to help tackle significant global issues. The aging-in-place movement is a great opportunity to build technology solutions that empower people with the autonomy and safety they desire. A terrific example of IoT-for-Good."

"AI Caregivers work 24/7 and never sleep. Care Daily is on a mission to impact the lives of family and professional caregivers through personalized AI Caregiving experiences, and I'm proud to collaborate with KORE on operationalizing and scaling these proven solutions that help provide care for today's exploding population of seniors." David Moss, CEO and co-founder of Care Daily, said.

Care Daily recently partnered with Quil – the joint venture between Independence Health Group and Comcast – which is a digital health company aimed at providing health and wellness. Serving such a large client required rapid scalability in both device procurement and logistics, as well as wireless connectivity.

"KORE stepped in at a time when we required a connectivity solution that could scale with our customers globally," said Chris Ebert, Care Daily SVP and General Manager, Americas and EMEA. "And uniquely, what KORE brought to us beyond connectivity and expertise is the ability to serve, via their managed services division, the hardware needs of our partners."

KORE provides cellular and other IoT connectivity services to power solutions across the globe and offer up a comprehensive 'one stop shop' for IoT managed services to ease the complexity of deployment and make IoT work.

In the case of Care Daily, the devices and sensors communicate with the AI platform, which monitors the end user's daily behavior to learn patterns over time and to detect and alert on deviations. KORE's IoT managed services ensure that device and hardware needs are met seamlessly through procurement, configuring, kitting, shipping, and reverse logistics.

Care Daily has worked closely with the National Institute on Aging (NIA) and the University of California, Berkley to scientifically validate the platform in reducing anxiety and improving sleep for the caregivers of those with early onset dementia. Care Daily's SaaS solution is the only AI solution scientifically validated to reduce anxiety and improve sleep quality for dementia caregivers.  

"As we evolve into more robust medical devices, we will have the expertise through KORE to provide those to our customers and support our scale as we grow," Moss said.

About KORE

KORE is a pioneer, leader, and trusted advisor delivering mission critical IoT solutions and services. We empower organizations of all sizes to improve operational and business results by simplifying the complexity of IoT. Our deep IoT knowledge and experience, global reach, purpose-built solutions, and deployment agility accelerate and materially impact our customers' business outcomes. For more information, visit www.korewireless.com.

About Care Daily

Care Daily is a Silicon Valley software company with the first scientifically validated at-home AI Caregiver service. Our patented technology detects falls in real-time, uncovers hidden health problems, and brings families and professional caregivers together provide care more efficiently across today's exploding population of seniors. Service providers choose us because we're the only company providing an app store for physical spaces. That means partners can achieve massive differentiation by inventing, deploying, and managing their own unique AI services for subscribers.

For more information, visit www.caredaily.ai.

KORE Media Contact:
Alisa Moloney
KORE
Email: amoloney@korewireless.com

KORE Investor Contact:
Charley Brady
KORE
Email: Investors@korewireless.com

Care Daily Contact:
Vishal Dubey
Care Daily
Email: vishal@caredaily.ai

View original content to download multimedia:https://www.prnewswire.com/news-releases/in-home-senior-care-powered-by-care-daily-artificial-intelligence-and-supported-through-kore-iot-connectivity-and-managed-services-301688763.html

SOURCE KORE Wireless

FAQ

What is KORE's recent partnership about?

KORE has partnered with Care Daily to provide IoT connectivity and managed services for AI-driven in-home senior care solutions.

What does KORE provide in the partnership with Care Daily?

KORE supplies scalable IoT connectivity and managed services to support Care Daily's AI-driven health monitoring platform.

How many seniors are projected to be in the U.S. by 2060?

The senior population in the U.S. is expected to reach 95 million by 2060.

What is the significance of the aging-in-place trend for KORE?

The aging-in-place trend represents a growing market opportunity for KORE as more seniors prefer to live independently at home.

What validation does Care Daily's platform have?

Care Daily's AI platform is the only scientifically validated solution that effectively reduces anxiety and improves sleep for caregivers of dementia patients.