Real-world AI companion for people with memory impairment issues

Millions of people (especially old people suffering from Alzheimer's disease or dementia) have memory impairment issues, which hinder their ability to go about their day to day life. There's an opportunity to greatly improve their lives through modern tech. It is well positioned for first to market, has massive potential for profit, while helping millions of people get better care for less money. 

The idea is to create a physical device (like a headset perhaps) that would have access to the sensors, cameras, and other connected devices throughout the home. The AI is always on, never sleeps, and is ever vigilant.

AI capabilities:

• Keep patient on task. Whether it's finishing laundry or not forgetting the food on the stove, the AI can track and help remind the patient of tasks that need completed.

• Medication Monitoring. AI could be positioned to increase the regularity and frequency with which patients take the proper medication, as well as help avoid unintended overdoses.

• Nutritional monitoring. With the proper sensors and IOT devices, AI could monitor a patients nutrition, help them choose meals, help them cook the meals, help them order groceries for the proper nutrition, create meal plans and help the patient stick to them.

• Location monitoring and geofencing. Combine this with the first item, and the AI could help the patient shop for groceries, talking them through the process, making sure they get the necessary items, as well as making sure that the patient goes where they need to go without getting lost.

• Companion. The AI can be trained in the most effective ways to communicate with the memory impaired, allowing it to help keep them from making mistakes due to their condition. It would be able to talk to them when they are agitated and calm them, as well as help them navigate hallucinations.

• Healthcare and emergency contact backup. The AI will be able to send information to the health care provider as well as contact the provider in case of emergency. The AI will also be able to contact relevant family members, etc.

Team required:

• Embedded hardware engineer

• Software engineer

• Geriatric Psychiatrist

• Gerontologist

• A few AI/ machine learning engineers

• UX designer

• Accessibility Expert

You could sell the device for $1000 per unit, make a healthy profit per unit, charge a nominal subscription for the backend/ connectivity plan and updates, and still save patients potentially hundreds of thousands of dollars in care. Their best alternative currently is to get support for many hours everyday from family or hired assistants (both of which are very expensive options in developed countries).

You can likely get entire organizations to partner with you for memory impairment care. Not to mention, this could open up an affordable avenue of care for patients that cannot afford round the clock, personal attention.