{"id":1004359337,"date":"2019-10-10T03:45:00","date_gmt":"2019-10-10T11:45:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004359337"},"modified":"2019-10-10T07:14:07","modified_gmt":"2019-10-10T15:14:07","slug":"tech-at-the-center-of-deloittes-2020-outlook","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/tech-at-the-center-of-deloittes-2020-outlook\/","title":{"rendered":"Tech Takes Center Stage in Deloitte’s 2020 Outlook"},"content":{"rendered":"
\"Jim<\/a>

Jim Berry, Partner, Deloitte & Touche. Image courtesy of Deloitte<\/em><\/p><\/div>\n

For the past several years, Deloitte\u2019s annual outlook series<\/a> has been focusing on the importance of technology adoption in commercial real estate. The latest installment\u20142020 Commercial Real Estate Outlook: Using Digital and Analytics to Revolutionize Tenant Experience\u2014urges companies to put tenant and end-user preferences at the center of every decision. It even takes the traditional CRE mantra of \u201clocation, location, location\u201d<\/em> and replaces it with \u201clocation, experience, analytics.\u201d<\/em><\/p>\n

\u201cOverall, as an industry, real estate has lagged other industries in making investments in technology. However, we are seeing more focus and a sustained increase in these investments that we believe is being driven by the rapid change in needs and expectations of tenants and end-users,\u201d <\/em>one of the report\u2019s authors, Jim Berry, told Commercial Property Executive<\/em>. Berry is a partner of Deloitte & Touche LLP and the leader of its U.S. real estate practice.<\/p>\n

The 44-page report is the result of a global survey of 750 CRE C-suite executives from 10 countries across the Americas, Europe and Asia Pacific conducted in June by the Deloitte U.S. Center for Financial Services. The survey included CRE owners, developers, and property managers, private equity real estate investors and managers, as well as CRE brokers and consultants. In addition to asking questions about business sentiments and expectations, the survey asked about preferences, beliefs, actions and challenges regarding key topics such as tenant experience, data utilization, cyber security, and the role of technologies such as Internet of Things (IoT), artificial intelligence (AI) and digital reality (DR)<\/a>.<\/p>\n

Berry said the survey found 64 percent of executives surveyed reported they increased their technology-related investments over the past 18 months and 78 percent said they expected their organizations to at least hold or increase those commitments.<\/p>\n

\u201cA good example is in the area of data governance where, overall, two-thirds of the respondents plan to increase their investments,\u201d<\/em> Berry told CPE. \u201cAnother proof point illustrating the industry\u2019s sustained commitment to technology investments is that 72 percent of surveyed CRE executives plan to maintain or increase their overall technology investments even if an economic slowdown occurs.\u201d<\/em><\/p>\n

\u201cThis sustained commitment and a move to be more proactive in making technology investments is critical for the industry in achieving digital tenant experience advancements,\u201d<\/em> Berry added.<\/p>\n

The survey found increasing urbanization and globalization are changing tenant preferences, including workforce demands. The results are the need for more flexible locations and workspaces as well as increased use of technology advancements like AI and IoT. The executives acknowledged that IoT and AI technologies can also raise operational efficiency and lower costs.<\/p>\n

Key messages<\/h2>\n

Some of the key messages in the report include:<\/p>\n