As the silver economy becomes more closely connected with AI applications, intelligent voice assistants and other smart wearable and home devices are gradually becoming part of older adults’ daily lives. While these new technologies enhance the convenience of daily life and expand opportunities for social participation among older adults, they may introduce new usage barriers and experiences of exclusion, thereby placing the elderly in more complex and hidden digital exclusion risks. Understanding these risks and finding effective ways to address them has become an important issue in responding to population ageing and promoting digital inclusion. This study examines the interactions between older adults and intelligent voice assistants. It develops a multidimensional analytical framework based on embodied experience, family interaction, and social construction to explore how digital exclusion risks among older adults emerge and evolve. The findings show that the digital exclusion risks among older adults are not fixed or isolated. Rather, they are produced through ongoing interactions shaped by several factors, including the physical and psychological limitations of older adults, technological barriers and social discourses, and patterns of technological mediation and power transfer within families. These risks exhibit a distinct evolutionary trajectory from micro-level individual experience to macro-level structural exclusion. To address this challenge, at the individual level, it is necessary to strengthen older adults’ digital identity and enhance their ability to engage with digital technologies; at the family level, it is essential to improve family support and foster intergenerational collaboration; and at the structural level, it is essential to promote age-friendly transformation in institutions and platforms and reduce structural barriers.