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1、Maria Vassalou,PhD Pictet Research InstituteDemographics and technologypictet group October 2025A new frontier of investmentopportunities at thecrossroads of populationchange and technologicalinnovationAgeing economies face a stark choice:do nothing and decline or transform and continueto grow.Fortu
2、nately,automation and AI can go a long way to counterbalance the shrinkage of the labour force,and the timing of their evolution is opportune.3Demographic change is transforming our societies and economies.Its steady creep is gathering pace and force,de-manding that countries adapt and innovate if t
3、hey are to cope with the deep,structural shifts that their populations are just starting to experience.While the drivers of population change are multiple and uneven,one constant holds true:by 2050 the worlds leading economies are all expected to experience a signif-icant increase in dependency,or t
4、he ratio between those not working and working.Unlike other economic forecasts that are estimated with a significant level of uncertainty,the probability that projected demographic changes will take place is very high.In addition,there is not much a country can do to materially alter its demographic
5、 course,especially in the span of a couple of decades.Ageing economies face a stark choice:do nothing and de-cline or transform and continue to grow.Fortunately,automa-tion and artificial intelligence(AI)can go a long way to coun-terbalance the shrinkage of the labour force,and the timing of their e
6、volution is opportune.Governments and companies have thus a viable path to growth going forward.Our study focuses on examining the interplay of demographics and technology with the aim of identifying the potential growth drivers and investment opportunities of the future.The interplay between demogr