Data and Technology Changing the Way We Live?
Data and technology is changing every inch of our lives; the way we work and communicate. This has moulded through tech advancements and there is no sign of this trend slowing down. Processes have become more streamlined and there is undoubtedly an expectation for every experience (public and private) to be quick and automated. More recently, we have seen some of the major tech giants taking a greater interest in development and identifying ways to embed themselves into the end user’s home life.
What is Technology Doing?
Many technology companies are doing extensively notable work. Firstly, Google are building part of a city. Secondly, Facebook has the ability to track where people are located in a house. Lastly, Amazon are installing Alexa’s to fulfil every customer’s demand.
But when does it all start to feel like too much?
Tech giants all over the world are capitalising on how you can find an ‘in’ to people’s homes, whilst the purpose is convenience, there can become a point where technology starts to feel invasive. Furthermore, with the biggest players in the development market linking up with leaders in tech – where does it leave the SME developer? Is this evolution a threat or an opportunity?
If we take the principle of using data and apply it to what we do, technology really presents itself as a huge opportunity. For those that shy away from data, things could start to become problematic as products will quickly feel outdated. Currently, residential developers are not feeling the pressure to conform, certainly in the commercial space. However, it is proving popular to understand how to optimise the building on either a tenant or a build level.
From a residential perspective, it is likely that the build-to-rent sector will be quickest in adopting these advancements since the developer has a greater interest in understanding how the space is being used. Certainly, if you consider student housing schemes which have a continuous turnover, it’s beneficial to monitor the behaviour of residents. This information, in turn, could identify patterns and drive the type of developments we see in years to come. Regardless of what next step are, the learning that we take away will eventually feed into the build-to-sell space.
It is difficult to predict how long it will take for tech to be fully immersed in development. However, being open to adopting the change will certainly be the key to success when the time is right. Watch the full discussion on big data by clicking above.