Property bosses failing to embrace technology

Property bosses have their heads buried in the sand when it comes to technology, failing to embrace digital disruption, according to a global survey.

Accountancy giant PWC found that property chief executives lagged behind all CEOS surveyed regarding various tech matters. Only 17 per cent of property CEOS cite cyber threats as a danger to their growth prospects, compared with 40 per cent of all CEOS surveyed. And only a tenth see the speed of technological change as a threat to their firms compared with 38 per cent across the spectrum.

Additionally, only a fifth said they clearly understood how robotics and artificial intelligence can improve customer services as opposed to 47 per cent of all CEOS.

Craig Hughes, global real estate leader at PWC, said technology, urbanisation and social changes are “transforming” how we use property, so business leaders must be “bold and innovative if they will continue to succeed”.