Lumosity proudly boasts that their gaming platform can help improve cognitive function. It is still up for debate on whether their promises hold true. However, their large fan base who pay a monthly subscription for unlimited access will probably tell you otherwise. If brain training games are your thing, give Lumosity a try.
On January 5, 2016, Lumos Labs agreed to a $50 million settlement (reduced to $2 million subject to financial verification) to the Federal Trade Commission over claims of false advertising for their product. The Commission found that Lumosity's marketing "preyed on consumers' fears about age-related cognitive decline, suggesting their games could stave off memory loss, dementia, and even Alzheimer's disease", without providing any scientific evidence to back its claims. The company was ordered not to make any claims that its products can "[improve] performance in school, at work, or in athletics" or "[delay or protect] against age-related decline in memory or other cognitive function, including mild cognitive impairment, dementia, or Alzheimer's disease", or "[reduce] cognitive impairment caused by health conditions, including Turner syndrome, post-traumatic stress disorder (PTSD), attention deficit hyperactivity disorder (ADHD), traumatic brain injury (TBI), stroke, or side effects of chemotherapy", without "competent and reliable scientific evidence".
There is no good medical evidence to support claims that memory training helps people improve cognitive functioning.