Real Estate

Tech Revolution In Real Estate

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<p style="text-align: justify;">Colliers India had hosted the Premier Edition of the CII conference on 'Tech in Real Estate.' We had discussions with senior CRE and tech leaders and panelists on the future of work and tech in office design and real estate.</p><p style="text-align: justify;">These discussions came at an apt time, given that technology is everywhere today. The pandemic has effortlessly woven digitization into real estate.&nbsp;</p><h2 style="text-align: justify;"><span style="font-size: 14pt;">How Technology Is Changing The Real Estate Space</span></h2><p><span style="font-size: 12pt;">The internet and connected devices are standard building amenities. Hundreds of start-ups are entering real estate worldwide with many applications from utility analytics to facilities management to user experience.</span></p><p style="text-align: justify;"><span style="font-size: 12pt;">The world will see more disruption in the next 10-20 years than last 20,000 years. Research states that organizations built for linearity, predictability, and efficiency may not survive this tech revolution.&nbsp;</span></p><p style="text-align: justify;"><span style="font-size: 12pt;">Large organizations will find it tough to change because of response time, legacy issues, and hierarchical structures if they are not agile.</span></p><h2 style="text-align: justify;"><span style="font-size: 14pt;">Digitalization is Changing the World&nbsp;</span></h2><p style="text-align: justify;"><span style="font-size: 12pt;">When AI, automation, and robotics are digitizing human jobs and data and technology are completely changing our world, firms like ours harness tech every day to optimize client solutions and significantly improve client experience.&nbsp;</span></p><p style="text-align: justify;"><span style="font-size: 12pt;">We are completely digitizing several of our business processes. The focus has shifted from 'Can the initial investment in technology lead to enhanced returns?' to 'How can technology add value to the business?'&nbsp;</span></p><h2 style="text-align: justify;"><span style="font-size: 14pt;">Future of Real Estate in India&nbsp;</span></h2><p style="text-align: justify;"><span style="font-size: 12pt;">Technology will upturn Indian real estate in the next few years, bringing in efficiencies and creating a more transparent sector.</span></p><p style="text-align: justify;"><span style="font-size: 12pt;">Technology will become the cornerstone to maintaining and elevating operations and taking Indian real estate toward global heights.</span></p><p style="text-align: justify;"><span style="font-size: 10pt;"><em>This article was contributed by our expert <a href="https://www.linkedin.com/in/rameshnairnair/">Ramesh Nair</a></em></span></p><h3 style="text-align: justify;">&nbsp;</h3><h3 style="text-align: justify;"><span style="font-size: 18pt;">Frequently Asked Questions Answered by Ramesh Nair</span></h3><h2><span style="font-size: 12pt;">1. How is technology used in real estate?</span></h2><p style="text-align: justify;"><span style="font-size: 12pt;">Today the technology is everywhere. There are hundreds of different start-ups which are entering the prop tech space and they are forcing the costumers to embrace technology and rearrange the focus and how we can deal with the tech environment.</span></p><h2 style="text-align: justify;"><span style="font-size: 12pt;">2. What is the future of technology in real estate?</span></h2><p style="text-align: justify;"><span style="font-size: 12pt;">One this is for sure; the world will see more disruption in the next 10-20 year&rsquo;s than the last 10000 years. There would be many fortune five hundred companies which will disappear from the list. Over the 10 years AI will be same as human intelligence and automation, and robotics will be used in real estate.&nbsp;</span></p><h2 style="text-align: justify;"><span style="font-size: 12pt;">3. What is the future of real estate in India?</span></h2><p style="text-align: justify;"><span style="font-size: 12pt;">Technology will upturn in India and will completely transform the landscape of the real estate space in India. The Indian real estate will become more transparent and efficient.&nbsp;</span></p><p style="text-align: justify;">&nbsp;</p>
KR Expert - Ramesh Nair