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While the pandemic has affected PropTechs in different ways, it drives us to stretch beyond conventional digital products and provide new but focussed opportunities to address the present-day pain points and needs of the real estate industry. It is a critical time for PropTech companies like us to focus on providing the best remote experience and solutions that will enable our customers to continue delivering at their best.
Big data with AI systems deployed can help real estate market players gain access to various aspects of market research insights such as recent comparable sales, level of demand in the market, predictive analytics etc. Such powerful tools can enable real estate market players to make more informed and data-driven decisions particularly in predicting most beneficial investment opportunities, evaluating prospective leads based on their financial status and purchase history, predicting customer needs and helping with targeted marketing.
Simulated walkthroughs of properties and augmented off-the-plan developments showcase are rapidly changing the way users interact with the property world. These leading edge technologies provide users with more immersive digital experiences when compared to physical reality that requires a lot more time and effort.
The construction industry could meet its true potential by investing in sophisticated commercial robots, automated and autonomous systems designed to undertake complex tasks. Along with AI, construction robots, aerial and wearable devices can disrupt construction processes from planning through completion and maintenance by lowering operating costs, improving efficiency and precision on complex manufacturing and assembly processes, providing access to extreme and unsafe conditions, reducing risks and boosting human performance.
IoT is one of the most disruptive innovations that can reshape every facet of a building, from construction to occupancy to maintenance. IoT with smart buildings can optimize the experience of property occupants and management with centralised asset monitoring and control, predictive maintenance and improved safety and durability.
PropTechs will need to step up the game by embracing innovative approaches to offer value to rapidly changing customer needs and sustain as a thought leader in the unpredictable real estate market.
