What Technology Will Your Business Need to Survive the Next 5 Five Years?
The property industry is being rebuilt by digital technology – in some cases, literally. Breakthroughs are being made almost every day, taking us into a high-tech future. Keeping your business on the cutting edge will ensure you flourish in the changing market and give you a head start on your competition.
With so many new technologies emerging so frequently, how do you pick which will be the most important for you and your staff? We’ve assembled a list of four key innovations that will have the biggest impact on the industry over the next five years.
What if your domestic thermostat could turn the heat up the moment you left the office, so your house was nice and toasty when you walked through the door? Smart buildings are becoming more and more prevalent, with apps that control lights, heating and even your laundry being developed as we speak.
With more than 60% of the world’s population living in urban areas by 2050, buildings will need to become more efficient in their use of space.
Firms will need to start bearing these innovations in mind on future projects, where networks will be as important as electrics.
Just as buildings will soon become networked, so too will cities. The internet of things” will generate more than $400bn in new device installations. These new technologies will create a whole new form of dynamic spaces and modular structures. Moving architecture will soon overtake permanent structures and allow for near-constant optimisation.
All of this will have a huge impact on city infrastructures. Everything from traffic flow to sewer drainage is entering the digital age. With these major changes to cities coming soon, surveyors will need to adapt to new tools and trends as well.
Building information modelling (BIM) is the process of creating digital representations of places and buildings. With advancements taking BIM fully into the realm of virtual reality, the practical applications are endless.
A recent study by RICS showed that 73% of surveyors believe that failure to adopt BIM could seriously hinder the construction industry. Alan Muse, Global Director of Built Environment at RICS, has stated that: “BIM is the future, not just of surveying but the entire construction sector.” It is imperative for surveyors – especially quantity surveyors – to learn this new technology or run the risk of losing any ability to compete in the industry.
The use of 3D printing seems to be everywhere these days. The practical applications have now moved beyond quickly printing scale models to printing entire offices. New techniques are currently being developed to allow easier and cheaper production of bespoke construction materials. In the future, 3D printing could allow for unique solutions to common safety and structural issues.
The technology will also play an important role in modular building projects, a trend that is currently on the rise. It is clear that this new technology is here to stay, and investing in printers now could offer huge cost-saving benefits down the road.