LONDON - Britain announced a new strategy Monday for healthy ageing to prepare for the time when more than one-in-ten people born today reach the age of 100.

The government announced a $416 million worth competitive fund to develop the innovations and new technologies of tomorrow, for the landmark ageing society grand challenge.

The funding will support better diagnosis for British patients through artificial intelligence (AI) and new tech at a new network of regional centers of excellence.

Around 500,000 Biobank volunteers will be recruited so their genome can be sequenced to provide data that will help the UK lead the world in development of tools for early diagnosis and new pioneering therapies.

An extra $55.5 million is to be invested in a new hub for the UK Dementia Research Institute at University College London (UCL), and there will be new funding to develop new products and services to help people live in their homes longer, tackling loneliness, and increasing independence.

In a statement the Department for Business, Energy and Industrial Strategy (BEIS) said: "Britain is determined to be at the forefront where we can lead a global technological revolution. Through its Ageing Society Grand Challenge the government has committed to invest in harnessing the power of innovation to help meet the diverse needs of an ageing society."

BEIS said more than 10 million people in Britain today can expect to see their 100th birthday, compared to the 15,000 centurions today.

"Ageing populations are a global phenomenon that are creating new demands for technologies, products and services, including new care technologies, different housing models and innovative savings products for retirement," said BEIS.