This paper proposes a cooperative approach that leverages artificial intelligence to support the growing elderly population. It focuses on enhancing mental health, reducing loneliness, and improving overall well-being. It addresses the challenges of elderly isolation through an AI-based virtual companion designed to provide personalized and empathetic support within a collaborative care context. To clarify the underlying structure and manage the complexity of elderly care, the approach incorporates a knowledge mapping technique. This is visualized through a mind map highlighting eight key components: the conversational agent, user interface, health and wellness monitoring, health wallet, social engagement, stakeholders, ethical and privacy strategies and cooperation. These elements work together to offer comprehensive and proactive assistance. The cooperative approach ensures that the system operates effectively within a broader, integrated network of eldercare support.