External Affairs

Proposed: Technology and/or Disruption and Innovation (Top Ten 2018-19)

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    Alyssa Bray

    Various technology issues were frequently cited by our members as an issue for the 2018-19 Top Ten. Here are some of the responses we’ve received so far.

    • AI
    • Autonomous vehicles
    • Blockchain and cryptocurrencies
    • Building technology and the many MORE things that can now go wrong (hacking the HVAC, locking down elevators, ransomware to run power back on)
    • New office needs and configurations due to technology
    • New real estate tech companies and service offerings, including automated business process management tools and platforms (from transaction facilitation platforms to integrated portfolio management systems and portfolio management overlays to existing systems)
    • The continued battle for dominance between Ecommerce and traditional bricks and mortar retail chains
    • The Internet of Things (IoT)
    • Metering of various operational systems
    • Building Information Modeling technology
    • 3D printing technologies
    • Adaption to blockchain and cryptocurrencies in real estate transactions, property development, and investment property operations.
    • Alternative financing methods, particularly “fintech” (including crowdfunding and other internet vehicles.
    • The influence of the “GIG” economy, sharing economy, and such are growing as alternatives to the typical one-job, 40-50 hour week, model. What will be the impact on real estate in this shift?
    • Emerging financial, contractual, and valuation tools and business models aligned with improved energy and performance; new software on energy reporting;
    • CRE practitioners should embrace transparency and better use of new granular market and internal data
    • Drones
    • Ride hailing services are gaining market share relative to mass transit in many large urban markets.
    • Oversized influence of “Big Four” (Apple, Facebook, Google, and Amazon) on US society.
    • Over 2/3 of Americans get at least some news from social media; greater percentage of younger adults.  This trend has been rising. Little to no standards for accuracy of reporting.  They are also disruptors in the real estate space.

    Have anything to add? Share your comments below, and feel free to share articles and data illustrating this issue.

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