The Evolving Role of Real Estate Developers With Cloud, AI & IoT

The influence of evolving technologies on real estate development is growing, and the benefits are being felt not only by professionals within this field, but also their clients and all others involved with the design, construction, operation and maintenance of modern buildings.

In particular it's the power of cloud computing, in combination with artificial intelligence (AI) and the internet of things (IoT), which is shaping this industry at the moment.

Here's a look at how this is playing out, and where things might go in the future.

Project management is embracing automation to overcome inefficiencies

The latest commercial real estate software from developers such as Northspyre equips project managers with the means to orchestrate complex schemes comprehensively, all while reducing waste and keeping costs down.

This is achieved through AI-backed automation, with a particular focus on data-driven decision making. By tapping into the reserves of historic info, insights gleaned can be applied to new projects to keep the wheels turning and avoid delays.

Likewise the latest software is able to empower project managers so that they can pivot and adapt as new challenges arise, without lumbering them with all of the tedious number-crunching tasks.

And because this can be handled in the cloud, there's no need for individual managers or commercial real estate development organizations to have extensive in-house infrastructures to host the software or the data it deals with.

Building operations and maintenance is a breeze with IoT hardware and cloud software

Every building, whether it's a domestic home or a multiple occupancy skyscraper designed for businesses, is a lot like a living, breathing life form rather than a hunk of lifeless brick, mortar, concrete and glass. It won't be an enjoyable place to be, and it won't stand the test of time, if every last detail of its operation is monitored, adjusted and maintained to ensure longevity and cost-effectiveness.

That's where IoT devices and modern software solutions enter the picture. Networked hardware capable of assessing the state of play in terms of things like lighting, heating, security and so forth can dramatically reduce the challenges that face homeowners and commercial landlords alike.

Rather than every zone of a structure having to be overseen and altered manually, all of this can be analyzed and controlled centrally, once again with the impact of AI catalyzing the convenience of the whole setup.

Developers of course need to factor this into their design and planning phase to make the most of the tech that's available. Then as projects get completed and tenants move in, costs are kept down and potential issues detected to be remedied rapidly, rather than allowed to fester.

The rate of progress is accelerating

The benefits being felt in real estate development thanks to the rollout of cloud, AI, big data tools and IoT tech are really just the beginning.

The whole point of artificial intelligence in particular is that it is not just able to automate key processes right now, but also get better at doing this over time, while expanding its repertoire of abilities all without requiring direct human intervention.

Thus it's easy to conceive of a future in which it's even less expensive and time-consuming to kick start commercial real estate projects, and the efficiency of operating even the largest buildings in the world is optimized to the Nth degree.

Wrapping up

If you work in real estate development and you haven't explored the potential offered by modern software and hardware configurations, strike while the iron is hot. You won't regret it, and your operations will be transformed for the better.