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Inside the Lyft CEO’s plan to capitalize on the boomer economy with 4 main features

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Lyft CEO David Risher recalls the tough conversations with his late mother about the realities of aging. 

“One of the most unpleasant conversations I ever had with her was, ‘Mom, I think it’s time for you to turn over the car and keys,’” Risher tells Fortune.

His personal experience—coupled with the demographic shift where 80 million people are expected to be 65 and older by 2040—pushed the CEO to consider how the multi-million-dollar rideshare company can better serve older adults. Today, less than 6% of Lyft’s passengers are over 65, according to data provided by the company. 

This week, Lyft announced “Lyft Silver” to make their rideshare service more appealing to older adults. Risher thought of his mom, who embodied the desires of many older adults: eager to stay involved with those around them and have easy access to travel. 

“The physical world is a really important part of our lived experience, and that is only more true as you get older,” says Risher.

The number one priority for Risher during product development was ensuring it would be “easy for people to use.” The program will, therefore, have bigger fonts and fewer options to choose from. During the research phase, the team also found that older adults feared they would do something wrong on a rideshare platform, which could dissuade them from using it. To address this, Lyft Silver will have a more customer-service-enabled button at the top of the screen to address “everything from ‘I’m not sure who my driver is’ to ‘I think I just put in the wrong destination,'” Risher says. 

Caregivers and family members are a central part of Lyft Silver. Older adults using the platform can easily share their rides with a loved one or caretaker, who can add money to their balance if needed. And, users will be more often paired with cars that are easier to get in and out of for comfort and space. Lyft partnered with the Foundation for Social Connection Action Network and Self-Help for the Elderly, among other organizations, to help design the feature. 

This week, the option to switch your interface to silver is open, and the company will enroll up to 25,000 people in the offering. Monitoring user habits will inform whether or not the service is rolled out in full and under a subscription model. “It’s really just about trying to get as many people to try it and give us feedback,” Risher says.

The rideshare’s rival, Uber, has launched a similar service as more companies recognize that responding to boomer’s needs is a smart economic move.

“It’s good for business, but I think it’s just good for society,” Risher says. 

This story was originally featured on Fortune.com



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The AI training gap: Business leaders expect their employees to use AI at work but they aren’t providing them with any guidance

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Good morning! 

It seems as if every business leader in the world is trying to figure out how to embrace AI to stay competitive in a rapidly-changing tech landscape. But when it comes to effectively incorporating the technology, their workforce expectations are not quite lining up with reality. 

Only 10% of C-suite leaders say that their companies are future-ready, according to new data from The Adecco Group, which surveyed 2,000 people, in a report shared exclusively with Fortune. That lack of readiness is likely the result of shoddy workforce training. While almost two-thirds of leaders expect employees to update their skills for AI, only one-third of companies are providing a clear policy on how employees should be using the technology. 

Caroline Basyn, chief digital and IT officer at The Adecco Group, thinks that the training gap can be partially attributed to “ignorance” on the part of executives. “Leaders need to grasp and understand that AI is going to transform the way we work,” she tells Fortune. “There are some industries that have understood it. There are some industries that have not yet understood the relationship between leveraging AI and the results they will achieve, both in terms of revenue and in terms of productivity.” 

She adds that simply using AI isn’t enough—businesses have to completely rethink their organization and workflow to best harness the power of the technology. “Investing in AI products is potentially only half the battle,” she says. “The whole leadership team, the culture and the learning structure, is as important as developing the product in [and of] itself.” 

The report recommends that leaders act to “create, share, and adhere to a responsible AI framework as a matter of urgency” and ensure that employees are well-versed in the policy specifics. Leaders should also consider “an AI ethics committee, company-wide training, and forum for workers to voice concerns.” 

Basyn says there’s no one-size-fits-all model when it comes to training workers how to use AI, and emphasizes that the training program used yesterday may not work tomorrow. But she says that the more personalized AI workforce training is, the better. 

“We need to make career mobility a reality. We need to make sure that we’re planning for the disruption, and empower the employees to build new skills,” she says. 

Sara Braun
Sara.Braun@fortune.com

This story was originally featured on Fortune.com



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A serial entrepreneur, a musician, and Walmart’s CEO walk into an AI factory…

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JPMorgan’s public blockchain move could set a new standard for institutional finance

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FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.



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