From unique AI partnerships to new opportunities in commercial agriculture, here’s the latest in CRE tech news.
Artificial intelligence companies are beginning to partner with prefab construction companies. Why? To spark innovation and increase productivity. Some companies, like Kapture Prefab and Indus.ai, are using AI to turn video footage into data. This lets them analyze job sites, improve material movement, and make smarter decisions about when and where labor is needed.
These innovations and cost-saving measures can help CRE developers and investors create standardized builds, such as apartment complexes or hotels, in areas that are typically avoided due to labor or housing shortages. Builders can leverage job site AI to increase worker safety and coordinate with trades for faster, safer construction.
Real estate was the largest industry in the United States in 2018, yet spent less than 1% on technology—that’s a problem, according to Nexkey CEO Eric Trabold. While there are plenty of ways to buy, rent, and sell online, little technology is available to automate property management. Trabold believes AI is the smart investment to make.
By investing in AI-driven property technology (PropTech), CRE property managers can deputize technology to help them allocate resources. AI-powered maintenance, for example, could improve workflows by using building-specific data that improves decision-making, cuts costs, and increases efficiency.
International travel just got easier, thanks to the Langogo Pocket AI Language Translator. Powered by AI, this innovative device offers one-button real-time translation and can act as a digital assistant and global WiFi hotspot. From quick interactions—such as ordering food at a restaurant—to complex conversations, Langogo offers users a seamless, hands-free experience with someone who speaks another language.
CRE developers and investors working internationally can look to this device to streamline interactions and conduct business with ease. The Langogo would also make a great building amenity that adds value to your property for clients that have (or are looking to build relationships with) international businesses.
There’s not enough land to produce enough food for all of the people in the world, and as Earth’s population continues to grow, the problem could get worse. Plant scientists and the AgTech industry are hoping that Crispr, or gene-editing technology, can future-proof food by making it bacteria-resistant or growable in unstable climates.
As new industries emerge to help solve society’s most pressing problems, they’ll need infrastructure and space that allows them to scale. CRE professionals and investors can stay ahead of the curve by working with emerging industries, learning their future needs, and working with them to develop real estate that can grow as they do.