We are living in a time of innovation. Technology is used more now than ever before, yet some industries still have yet to be truly penetrated. Is the commercial real estate industry one of them?
Operational Benefits vs. Existing Technology
Any technology that can directly benefit the operations of a building is likely to have the biggest impact. New buildings can integrate smart building technology. This would redice operations cost and should create a streamline to increase customer service. According to BisNow, only 35% of professionals believe smart building technology will rear its head in the coming years. However, I think it’s only a matter of time.
Artificial or Machine Intelligence
Artificial Intelligence (AI) differs from operation technology greatly. AI is likely to replace jobs that would usually be tasked by people. I think this is a far ways off. Would you like to walk into my building and be greeted by a machine? I think most people would answer no. Maybe if it was an especially cool looking machine. Even then, are we really there yet?
Some might argue Blockchain is the biggest technology disruption to hit the commercial real estate industry in years! Blockchain is the software on which Bitcoin is based. However, this software could be useful in eliminating the paper trail involved in transferring deeds and titles. I can see this being helpful for many people in many areas of the commercial real estate industry. If so, it also helps that this database is so secure.
I think it’s only a matter of time before we really start to see technology impacting the industry I love so much. I only hope the impacts are all good things. Yet, there is always some bad with the good, but I’ll just skip over that train of thought. What do you think? Share with me in the comments!