Technology is so ever-present in our lives today, it seems less like technology, and more like just life. If you’ve ever used your smart watch to turn on the lights, turn off the air conditioner and start a cup of coffee, you already get it. And if you haven’t, boy do you need to catch up!

CoreNet Global is coming out with a new report, THE CONVERGENCE OF TECHNOLOGY AND REAL ESTATE, which delves into how these evolutions are affecting the practice of corporate real estate.

Here are some of the highlights:

  • The common entry point for many firms has been using technology to improve energy efficiency and maintain equipment and systems; as well as occupancy and space optimization level or engineering, where they can see hard value outcomes.
  • The history of smart buildings or building management systems (BMS) stretches back to the 1980s with tech that was very focused on building controls that aimed to optimize equipment and reduce energy use, with common features such as timers and sensors that managed lighting and HVAC systems.
  • The broader proliferation of data and the ability to organize it in a more meaningful way, via the cloud or other means is the newest development. CRE can now use better analytics tools, and look toward artificial intelligence and machine learning as potential ways to learn from data and better understand employee behaviors in the workplace.
  • The business case for the digital workplace is being driven by efforts to improve collaboration, productivity and create an environment that helps attract and retain talent and boost brand image.
  • The convergence of technology and real estate demands more collaboration within organizations
  • It is not going to be just a decision of whether to buy or lease space, but how do companies control that space so they can drive changes to the space that can impact and benefit business operations.