Learnings from the world of PropTech
Jonathan Bartholomew, Smart Solutions Consultant at Cordless gives some insights into what’s currently on the agenda for technology in the Built Environment…
What an incredible couple of days at PropTech Connect 2024! It was wonderful reconnecting with familiar faces and building new connections.
The innovation on display was truly inspiring, companies are now achieving what we could only dream of a few years ago. We’re entering an exciting new era for smart buildings, now equipped with the tools to turn what once seemed impossible into reality. To say I’m excited for the future would be an understatement. I know everyone at Cordless Consultants feels the same.
After attending some insightful talks and observing around the event, I’ve gathered a few key takeaways:
AI & Machine Learning:
- Proper data collection is critical – your models and engines are only as good as the data you feed them.
- Adopting new technology can be intimidating; a cultural transformation at the leadership level is essential. Upskill employees and foster a data-driven culture.
- Leverage technology to become a differentiator in your business.
- Innovate and disrupt from within: tackle impatience, choose use cases wisely, pilot projects, and showcase results.
- Don’t get caught up in the hype – follow the money. Define the problem and measure ROI.
- Don’t fall behind – AI has been used meaningfully for about two years now. Imagine where your competitors will be in five.
- There will be a pre-AI world and a post-AI world – the shift isn’t happening over the next decade; it’s unfolding in mere months and quarters.
Sustainability & Operations:
- Build a strong foundation of operational data. This will streamline back of house operations, allowing you to focus on the ‘human’ aspects of decarbonisation.
- Creativity and Innovation will be the key drivers to achieving your sustainability targets.
- Integrate ESG considerations into your daily life.
- Prioritise ESG initiatives that matter most to your tenants or clients – understand the priorities of different stakeholder groups.
- Encourage collaboration – bring together organisations with shared sustainability goals.
- Move forward with purpose – our future may well depend on the sustainability strategies we implement today.
If you’d like to chat to Cordless about how any of the above themes are affecting your real estate strategy, we’d love to hear from you.