be collected , collated , and packaged for CRE professionals without the human legwork usually associated with it ?
“ The pot of gold at the end of this technology rainbow is freeing up people to do better things ,” D ’ Angelo says . “ If new technologies can capture data and put it to work , you can improve decision-making . You can see its value and how it can be applicable in improving performance .”
The implications of the COVID-19 pandemic are still playing out , but such disruption across CRE industry sectors will have plenty of professionals examining business practices and looking for improved efficiencies in processes . Just as the pandemic led to a boom in e-commerce , it could also make many CRE practitioners more willing to adapt and leverage technology .
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Technology will have a major role in the much nearer future as everyone learns to live in a world opening up from COVID-19 .
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“ We ’ ve seen over the last decade , especially the last two or three years before the pandemic , a growing awareness or curiosity ,” D ’ Angelo says . “ Many people were asking , ‘ Where do I apply technology ?’ and ‘ How do I best use analytics ?’ But I think in a very real way , we ’ ve seen that accelerate over the last year — and I think this is going to pay big dividends as we play out the next decade .”
Technology will have a major role in the much nearer future as everyone learns to live in a world opening up from COVID-19 . CRE sectors will have markedly different priorities , experiences , and demands . But office is a great starting point for a discussion of just how people will safely and effectively return to a workplace .
“ In many ways , office is going to be a poster child in the advancement of technology adoption ,” D ’ Angelo says . “ AI can improve building maintenance , for instance , by helping you understand when a major mechanical system needs to be replaced before it goes up in smoke . A smart building can know how people are using different spaces so you can decrease electricity and AC costs .”
While steering clear of the “ creepy ” factor , like when a building or office knows too much about you , these applications can ensure heavily trafficked areas are properly cleaned . Or elevators function in a way where social distancing is respected .
“ A ton of data from building systems and sensors can be used to improve our decision-making ,” D ’ Angelo says . “ We have all these cases where we are raising the IQ of a building and , in turn , producing a bunch of benefits for the industry .”
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Nicholas Leider Senior content editor of Commercial Investment Real Estate
Contact him at nleider @ ccim . com .
Editor ’ s note : For more from John D ’ Angelo on analytics , artificial intelligence , and the future of commercial real estate , listen to his full-length episode on Commercial Investment Real Estate podcast . Listen online at www . cirepodcast . com or wherever you stream your favorite podcasts .
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