{"id":1004546567,"date":"2021-08-11T08:50:52","date_gmt":"2021-08-11T16:50:52","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004546567"},"modified":"2022-12-08T23:39:14","modified_gmt":"2022-12-09T07:39:14","slug":"in-cre-its-time-to-flock-to-technology","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/in-cre-its-time-to-flock-to-technology\/","title":{"rendered":"In CRE, it&#8217;s Time to &#8216;Flock&#8217; to Technology"},"content":{"rendered":"<p>If you\u2019ve been following my columns for the past several months, you\u2019ll have noticed that I\u2019m excited about how technology can be applied in commercial real estate. The potential for technology, data and analytics to positively impact our industry is everywhere I look, from running a better asset and executing strategy more effectively to being prudent stewards of risk. The pandemic has been a universal wake-up call, showing us the effects of once unimaginable events and spotlighting the importance of technology and data.<\/p>\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-white-color has-text-color has-background\" href=\"https:\/\/mydigitalpublication.com\/publication\/?i=717518&amp;ver=html5\" style=\"background-color:#00aeab\" target=\"_blank\" rel=\"noreferrer noopener\">READ THE DIGEST<\/a><\/div>\n<\/div>\n\n\n<div id=\"attachment_1004311820\" style=\"width: 410px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/John_DAngelo.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004311820\" data-attachment-id=\"1004311820\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/how-to-take-your-cre-data-to-the-bank\/john_dangelo\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/John_DAngelo.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;8&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;NIKON D3&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1537782719&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;70&quot;,&quot;iso&quot;:&quot;500&quot;,&quot;shutter_speed&quot;:&quot;0.00625&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"John_DAngelo\" data-image-description=\"&lt;p&gt;John D&#8217;Angelo&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;CDO Stack: Smarter Buildings Can Be More Sustainable&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/John_DAngelo.jpg?w=800\" class=\"wp-image-1004311820\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/John_DAngelo.jpg\" alt=\"John D'Angelo\" width=\"400\" height=\"310\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/John_DAngelo.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/John_DAngelo.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/John_DAngelo.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><\/a><p id=\"caption-attachment-1004311820\" class=\"wp-caption-text\">John D&#8217;Angelo<\/p><\/div>\n<p>With vaccination rates rising and infections declining across much of the U.S., it will be interesting to see how end users interact with various types of real estate, and how developers, investors and operators leverage data and technology. As I\u2019ve repeatedly observed, we\u2019re seeing previous trends accelerate.<\/p>\n<p>When we look back at this time, though, I don\u2019t think \u201caccelerate\u201d is the word we\u2019ll use to describe how the situation played out. I\u2019ve heard \u201ctruth by assertion\u201d comments (which I disagree with) about how things will quickly go back to the way they were pre-pandemic. I\u2019ve also recently heard more nuanced, balanced descriptions of the immediate and near-term future for the industry (which I do agree with)\u2014that is, nobody knows how the next few months and years will unfold.<\/p>\n<p>I\u2019m optimistic about how technology and data will improve the way we interact with the built environment; how we invest in, own and operate physical assets; and how we function as an industry. The frequency of conversations I\u2019ve lately about related issues\u2014collecting and leveraging data, automating or eliminating historically manual processes, and using technology to better operate and understand an asset\u2014has skyrocketed. Even conversations about blockchain (which deserves its own column) have made a comeback. I\u2019ve talked more about blockchain in the last two months than in the past three years combined.<\/p>\n<p>I\u2019m hopeful that meaningful change is upon us, in light of the gaps exposed by the pandemic, growing tech awareness revealed by Deloitte\u2019s <a href=\"https:\/\/www2.deloitte.com\/us\/en\/insights\/industry\/financial-services\/commercial-real-estate-outlook.html\">global real estate outlook<\/a>, and the push toward stepped-up investment in technology. But I\u2019ve often found myself saying, \u201cIf not now, when?\u201d<\/p>\n<p>I could always be wrong about the trends that are pushing us toward running our businesses better or about user expectations that call for improved adoption of technology. But let\u2019s assume that I\u2019m right. If the current combination of trends, the availability of technology and the increased appetite to do something doesn\u2019t trigger widespread change, what\u2019s it going to take?\u00a0<\/p>\n<p>I\u2019ve been in real estate for too long to lose sight of the fact that we\u2019re in a flocking industry. When something new is proposed, the first question is almost always, \u201cWho else is doing this?\u201d, whatever \u201cthis\u201d may be. It takes time for any significant advance in technology to gain traction. And in an industry where there are typically few early adopters, I might be disappointed again by the pace of change.<\/p>\n<p>But this time feels different. Or is it? I\u2019d love to hear your thoughts because I honestly don\u2019t know whether the answer to the key question\u2014\u201cIf not now, when?\u201d\u2014is \u201cnever.\u201d \u00a0I sure hope it\u2019s not.<\/p>\n<p><em>John D\u2019Angelo<\/em><em>\u00a0is a managing director with\u00a0<\/em><a href=\"https:\/\/www2.deloitte.com\/global\/en\/pages\/real-estate\/topics\/real-estate.html\">Deloitte Consulting<\/a><em>\u00a0and leads the real estate industry sector for Deloitte Consulting in the US. With over 33 years of experience as a management consultant to the global real estate industry, John has helped some of the biggest names in real estate leverage technology and use data to optimize and transform their operations.<\/em><\/p>\n<p><a href=\"https:\/\/mydigitalpublication.com\/publication\/?i=717518&amp;ver=html5\" target=\"_blank\" rel=\"noopener\"><em>Read the July\/August 2021 issue of CPE.<\/em><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>The industry reaches a crossroads in its embrace of technology.<\/p>\n","protected":false},"author":1119,"featured_media":1004546573,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[39191,1521],"tags":[32782],"class_list":["post-1004546567","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rc-cfo-corner","category-digital","tag-deloitte"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>In CRE, it&#039;s Time to &#039;Flock&#039; 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