{"id":1004695532,"date":"2024-01-03T14:56:43","date_gmt":"2024-01-03T22:56:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004695532"},"modified":"2024-10-01T02:27:27","modified_gmt":"2024-10-01T10:27:27","slug":"top-cre-tech-predictions-for-2024","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/top-cre-tech-predictions-for-2024\/","title":{"rendered":"Top CRE Tech Predictions for 2024"},"content":{"rendered":"

My track record with respect to new-year tech predictions for commercial real estate, if I\u2019m honest, isn\u2019t particularly good. But hey, maybe this is the year that I nail it. There\u2019s an often-cited quote from the founder of a famous tech company that goes something like, \u201cpeople consistently overestimate the change that will occur in the next year and underestimate the change that will occur in the next decade.\u201d\u00a0 And I think that speaks to why it\u2019s good to keep thinking about what we either will or might see, because for every emerging technology prediction I\u2019ve made heretofore, I strongly believe it\u2019s a matter of when<\/em> rather than if<\/em>.<\/p>\n\n\n

\n
READ THE DIGEST<\/strong><\/a><\/div>\n<\/div>\n\n\n
\"John<\/a>

John D’Angelo<\/p><\/div>\n

Looking back at my predictions from last year, I went long on two. The first was that we would see real traction for blockchain-based solutions in commercial real estate in \u201923, and the second was that our buildings would become increasingly smart. If you\u2019re keeping score at home, I\u2019d say that I\u2019m batting .500, with the former really not happening on any meaningful scale and the latter showing good traction and even stronger interest (at least from the conversations we\u2019re having and projects Deloitte is delivering).<\/p>\n

I think this year\u2019s predictions are more of a sure thing, given that we\u2019re already seeing them play out. In other words, what we\u2019re going to see in the industry next year is really an extension, and hopefully acceleration, of what\u2019s been happening this year. In addition to investment in emerging smart(er) building technologies, I\u2019m seeing a rise of data, analytics and AI initiatives and core solution investments required to replace antiquated systems that have become functionally obsolete. The last is an unfortunate trend and an investment that can no longer be deferred. Let\u2019s briefly look at each of these.<\/p>\n

Generative AI, the latest addition across data, AI and advanced analytics solutions, became an ever-present topic and captured the attention of CRE leaders who began exploring how GenAI might benefit, change or threaten their companies. The ensuing conversations have made companies deliberately examine potential solutions, and inevitably, consider not only GenAI solutions but also traditional AI and advanced and predictive analytics. This is good because it\u2019s leading companies to hire more data scientists, clean-up their data at an increasing rate, and experiment. I expect to see more investment in the year(s) ahead.<\/p>\n

\"Image<\/a>

Image by Liudmilla Chernetska\/iStockphoto.com<\/em><\/p><\/div>\n

For buildings getting smarter, as clients across industries seek to set and meet carbon reduction and neutrality goals, they quickly understand the largest contributors to their carbon footprint are the buildings they use or occupy in connection with their business and how materials and\/or people get to and from those buildings. How the built environment is constructed\u2014out of what and where\u2014are certainly areas of focus. Likewise, how those buildings use energy and natural resources is another. And smart building technologies that more tightly control lights and major building systems directly lead to using less resources and often make inhabitants (tenants, shoppers, residents, patients, students, etc.) more comfortable. Smart building investments combined with modernization typically lowers maintenance costs and utility bills; enables access to tax credits and incentives; and provides a clearer window into what\u2019s happening in a building in real time. Given increased reporting and regulatory pressure, plus a compelling business case, I expect this momentum to continue.<\/p>\n

The last prediction isn\u2019t much of a prediction. Given conservative spending trends, I don\u2019t see companies spending big sums on truly transformational initiatives in any widespread way. But we do see transformation happening to core systems where investment has been deferred to the point that it can no longer be ignored. And we\u2019re certainly seeing companies spend on technology initiatives that really aren\u2019t elective. Not particularly exciting, but anything that modernizes the industries\u2019 antiquated systems and processes is a good thing.<\/p>\n

As always, look to this column in a year to see how I did.<\/p>\n

John D\u2019Angelo<\/em><\/a> is a managing director with Deloitte and is the firm\u2019s real estate solutions leader, designing solutions to address client challenges and push the industry forward. With over 30 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

Read the January 2024 issue of CPE.<\/em><\/a><\/p>","protected":false},"excerpt":{"rendered":"

This year, we’ll see an acceleration of
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