Technology in property will be the game changer for the realty sector
Data is the new oil for the real estate industry and technology will help process it, says Anthony Couse, CEO, JLL Asia Pacific. The company recently launched its global Centre of Expertise (CoE) for technology, data and information management in Bengaluru. As India’s first global centre for property technology (“PropTech”), the CoE aims to set new standards of innovation for the real estate industry by integrating technology into mainstream offerings in real estate like AI ( artificial intelligence) for customer services, Virtual reality (VR) and Augmented reality ( AR) for immersive design processes and similar others.
Today spaces are expected to be as dynamic as humans. Just like humans are supposed to be multitaskers, spaces are assumed to be multi-dimensional and even a heart, mind of their own. Is there a huge pressure now than ever before, for developers and owners to match up to the demands and aspirations of occupiers and customers?
holograms to transform complex, high volume, high speed data into insights for decision making. Many proptech ventures are using technologies focused on Virtual reality and Augmented reality to enable energy consumption monitoring and smart solutions for services such as parking, waste management and transportation.
Specifically what are the areas where real estate clients seek technology interventions? Which are the areas where you foresee greater deployment of technology in property market?
Technology will help in analysing data collected from smart applications. Data related to realty includes history of the property, current valuation, customer location preference, residential/commercial housing trends, cost of ownership and leasing details among others, all of which facilitate better decision making