The rise of PropTech: emerging industrial technologies and their impact on real estate

IF 1.6 Q3 BUSINESS, FINANCE Journal of Property Investment & Finance Pub Date : 2020-11-16 DOI:10.1108/jpif-08-2020-0090
Christopher W. Starr, Jesse D. Saginor, Elaine Worzala
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引用次数: 18

Abstract

PurposeIndustry 4.0 recognizes a broad set of technologies that rapidly redefine industry, including real estate. These broad technologies include the Internet of things (IoT), cloud computing, decision automation, machine learning and artificial intelligence. This paper explores applies Industry 4.0 to commercial real estate, resulting in a framework defined here as Real Estate 4.0, a concept that encompasses fintech and proptech.Design/methodology/approachThis research paper examines Industry 4.0 technology to construct a framework for Real Estate 4.0. We also focus on how the COVID-19 pandemic is accelerating proptech, particularly as it relates to getting employees back into their traditional work environments.FindingsAs a research paper, this is not a traditional research project with empirical findings. It is a primer on how the rapidly changing technologies of Industry 4.0 are now disrupting and transforming real estate today into what we are calling Real Estate 4.0.Practical implicationsPractitioner insight and future research are informed by a framework for Real Estate 4.0 drawn from the technologies of Industry 4.0. Additional implications are outlined for practical, systemic change as a result of the COVID-19 pandemic within the scope of Real Estate 4.0 technology.Originality/valueThis is a combined effort by experts in three contributing disciplines: systems science, planning and real estate. Our intent is to provide a primer for those of us in the latter two fields so that we can embrace the rapidly changing built environment landscape as it adjusts and adapts to a post COVID-19 environment that will be critical to maintain real estate investment values and enhance the real estate user's experience.
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PropTech的兴起:新兴工业技术及其对房地产的影响
工业4.0认识到一系列广泛的技术,这些技术迅速重新定义了工业,包括房地产。这些广泛的技术包括物联网(IoT)、云计算、决策自动化、机器学习和人工智能。本文探讨了工业4.0在商业地产中的应用,并将其定义为房地产4.0,这是一个包含金融科技和proptech的概念。设计/方法/方法本研究论文通过考察工业4.0技术来构建房地产4.0的框架。我们还关注2019冠状病毒病大流行如何加速技术进步,特别是在让员工重返传统工作环境方面。作为一篇研究论文,这不是一个具有实证结果的传统研究项目。它是一本入门书,介绍了工业4.0快速变化的技术如何颠覆并将今天的房地产转变为我们所说的房地产4.0。从工业4.0的技术中提取的房地产4.0框架为实践者的洞察力和未来的研究提供了信息。本文概述了2019冠状病毒病大流行在房地产4.0技术范围内对实际的系统性变革的其他影响。原创性/价值这是系统科学、规划和房地产这三个领域专家的共同努力。我们的目的是为我们在后两个领域的人提供一个入门读物,以便我们能够接受快速变化的建筑环境景观,因为它调整和适应后COVID-19环境,这对于保持房地产投资价值和增强房地产用户体验至关重要。
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来源期刊
CiteScore
3.50
自引率
23.10%
发文量
33
期刊介绍: Fully refereed papers on practice and methodology in the UK, continental Western Europe, emerging markets of Eastern Europe, China, Australasia, Africa and the USA, in the following areas: ■Academic papers on the latest research, thinking and developments ■Law reports assessing new legislation ■Market data for a comprehensive review of current research ■Practice papers - a forum for the exchange of ideas and experiences
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