Stuck in the dark ages?When it comes to the property and construction industry, not a whole lot has changed over the past half a century. When you think about it, even the term ‘landlord’ is antiquated, describing an aristocrat from the Middle Ages, not your modern day property owner. All around us, digital technology is transforming the way we live and work, and fast. Look at the transport industry, where driverless vehicles are now carrying passengers from A to B. And the rapid advancement of fintech, which allows you to take care of almost any payment with a thumbprint and a few clicks on your smartphone. Then we’ve got the building industry. Yes, we have new-age window tinting and automated sprinkler systems but these are individual features and functions. When you compare these ‘technologies’ to game-changing, holistic innovations in other industries, it is easy to find yourself wondering: “What’s next?” Of course, part of the reason for the lack of digital innovation within the building industry is budgets are tight. They are allocated to delivering a quality project before being committed to the research and development of new solutions. But because of this, even in brand new precincts, there is simply so much opportunity to leverage technology and be ‘smarter’.
Unlocking the potential of the building industryOnce upon a time, our go-to ‘search engine’ was the library, or perhaps the Encyclopaedia Britannica set we had at home (if we were lucky). After the internet began to hit the mainstream, Google came along and changed everything.
By continually tracking and gathering data, a digital twin will provide the information required to slash resources and energy needed to run even the largest of facilities. It will empower managers to automate many tasks, and reduce the risk of human error.
A complete digital building profile provides endless opportunities to expand our focus as property professionals. This includes cost effective ways to ‘surprise and delight’, delivering enriching connected experiences for our workers, guests, commuters, patients, visitors and customers.
Using this technology, we will be able to improve the cash value of our assets and to reduce their impact on the environment. Around the world, spaces will provide better services to tenants and facilitate ongoing improvements through Big Data analytics.
Willow has been hard at work developing incredible new technology which will drive the property and construction industry forward in leaps and bounds. In the coming weeks, I’ll be able to share more about this with you.