2021 - Back to the Future - Mending a Broken Real Estate Industry
"The Real Estate industry is like a ship with multiple holes in the bottom. And everyone seems to be focusing on pointing the ship in the right direction "
What can we learn from history, looking back to 2007 when the first SmartPhone was unveiled. Are there any similarities between these discussions and the ones that exist in the real estate industry today?
The need for a more sustainable industry
Beyond Buildings have talked to amazing people last year and discussed important topics about Digital Twins, Real-time Real Estate, Security aspects, and much more. We soon have a thousand subscribers from all over the world and it has helped people move forwards, betting on the right technologies, and has tried and succeeded in accelerating the time to value creation. Future podcasts will be even more interesting than last year, and this is where we will go beyond buildings for real, to come back to the real-estate industry armed with the knowledge that we need to have.
That is why it is paramount that future podcasts get out as soon as possible:
3D Printing and the need for an increased sense of urgency
Security and sustainable buildings
The role of 5G and what’s the difference between the past, present, and the future
AI conversations in regards to real-time real estate
Ontology-based discussions clarifying the meaning of meaning
How ontologies are being used today to create cognitive portfolios
Fixing the lifecycle problem, understanding where they are and what to do about them
How Tridium could be leveraged for more sustainable buildings worldwide
For the Future Shapers
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Because it seems that the only way to get going towards an era of Smart Buildings is to get Smart People to innovate together and actually make it happen as fast as humanly (and robotically) possible. That will of course happen in 2021 through Digital Twins. There’s no doubt about it. But there are also other technologies and trends that affect existing, and future ways of working as written about at www.Automatedbuildings.com with the Building Buzz Breakdown and the BB-cycle as depicted below.
Predicting where the world is going, we see that insurance companies will demand a digital twin and they have already started insuring algorithms. And everything that exists on the BB-cycle can be done today except maybe for one thing, as described in the article.
But there’s still a lot of misunderstanding about what Smart Buildings are, and what they can enable. And maybe most importantly, people not understanding that buildings today are not built to last. At all. Do you agree or disagree? What do you see for the future?
The need for a lifecycle perspective, navigating the terrain
There’s no lifecycle perspective. There’s very little understanding as to where the holes are in the industry and a lack of focus on making sure that buildings are not built with holes. As well as mending the holes, before doing anything else. But companies are protecting their revenue stream that stems from severe lock-in effects. And severe hardware lock-in. We are also starting to see vendor lock-in shift from the hardware realm towards more software and cloud lock-ins.
It’s not easy to navigate these terrains and Beyond Buildings will try to do even more in looking towards the past and the present, and to see what should be done now. We got the ingredients out there already. It’s People, it’s Processes and Planet.
We need to create the recipes together and they need to become available to a much higher degree than what’s being done today in a very much siloed industry.
Back to the future
Looking back in time to 2007, and listening, devouring the content from the discussion between Steve and Bill. We see a lot of relevance to that of where buildings are today,
“You want a computer which you can run your own programs on”…?
It’s similar to the Smart Building Effect that was written about last year, based on what Tesla is doing in their space. We know how to create a better future. But there are some things that stand in our way. And when I say “we”, and “our”, we mean we as humans. We as people, and also that of all life that exists on this planet.
These slides were made during the last couple of years in relation to predicting the future. Please comment if you have any questions/thoughts about them.
Does the future of buildings lie in platform thinking?
The road towards Cognitive Buildings is more of a conversation starter than anything else. But it might help in understanding where companies are on their journey towards cognitive buildings as well as cognitive portfolios.
Beyond Buildings will aim to be at the forefront in answering these and more questions for this year:
Who will build the first software company that happens to deal with real estate?
When will the industry realize that visualization is the key to a shared reality and an accelerated time to value creation through increased global collaboration?
When can we get towards Real-time Real Estate and why is this needed?
When will people understand that AI, VR/AR, ML, Stream Processing, and all these modern tools are just that. Tools. And maybe most importantly, how do we make people understand this?
When will people understand that time is the currency of the world. And that time translates into money?
When will real estate be viewed from a circular perspective and a lifecycle perspective?
Beyond Buildings will not only be at the forefront in discussing this. But also through WINNIIO be there to make sure that these things happen as soon as possible, in the most sustainable way focusing on the SDGs.
Partnership for the goals. That’s what it’s all about.
Where will you spend your time?
What do you want to do?
What role do you want to take?
- Do we need to go Beyond buildings and then come back?
Partnership for the goals is imperative if we are to reach a better future together. And there are reasons why no one should get left behind. That is evident from the amazing discussion with Sean Thomas Orimolade last year. But at the same time, we need to have a sense of urgency and speed moving forwards.
We need to let others waste time getting bogged down by people who don’t like the wording of new technology trends.
We need to keep our focus and not let ourselves be distracted from the fact that the planet needs our help.
We need to understand that coming generations are pleading to us from the future and that it’s high time to make our future selves proud as well.
James Dice is right. We are at the nexus of buildings where there’s a clash between what has happened, and what will happen. And if you are interested in this subject, you should definitely look into reading and subscribing to the Nexus podcast and blog.
But it is also beyond buildings. We are at a nexus in space and time.
We have to come together and become the speed that the industry needs. And the only way to do that is to go above and beyond, and then come back to the industry. Armed with cutting edge knowledge, partner up for the win, and steal with pride from other industries that solved these challenges years ago.
Let’s Take Action
Let’s go out there and help people and companies understand that their legacy will be determined by what they spend their time on.
Let’s be the people and the companies that make it happen. And then lead with example, instead of becoming the ones that wonder what has happened.
Time is the currency of everything.
And Beyond Buildings will spend our time on these questions and more. If you want to know more about how to realize this future, and want to invest your time with like-minded people? Then Beyond Buildings is something for you.
If a post has helped you last year and it got you some insight, please consider supporting the Podcast and Newsletter so that we can get all the knowledge out faster to you and to others. Our role is to help you spend time where it needs to be. And the aim of past, present, and future podcasts is to do just that!
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