Articles Posted in Technology

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China’s real estate market continues to face difficulty, Biden’s infrastructure development plans for the U.S. involve rehabilitation versus sweeping national buildouts, the value proposition of real estate in the metaverse is questioned, and more.

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Commercial real estate trends are forecasted for 2022, proptech startups strategize the use of the $32 billion of venture capital raised last year, real estate sales in Manhattan break 30-year records, and more.

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Proptech and digital real estate are poised for growth in 2022, millennials continue to supercharge the housing market, real estate brokers and agents can leverage gaming technology to showcase property, and more.

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President Biden signs the bipartisan infrastructure bill into law, plants like hemp and algae could help minimize the environmental footprint of high-rise buildings, construction groups sue over the Occupational Safety and Health Administration’s (OSHA) new vaccine rule, and more.

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The Real Estate and Construction industry may be huge, but ultimately, as with all industries, it comes down to the people who help make it all come together. From time to time, we like to profile some of those people.

Joe-RichJoe Rich is CIO and a senior vice president at The Related Companies, an owner, operator and fund manager of real estate based in New York City. Rich has been with Related for five years as the CIO. Prior to that, he was CIO at New York-based real estate developer Tishman Speyer.

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On September 30, 2021, the United States Senate confirmed Rohit Chopra as Director of the Consumer Financial Protection Bureau (CFPB). Mr. Chopra helped establish the CFPB following its creation through the Dodd-Frank Act and served as an Assistant Director at the CFPB from 2010 to 2015. Director Chopra will likely continue the CFPB’s focus on institutions’ responses to the COVID-19 pandemic, with a particular focus on the housing, small business lending, and mortgages among other things. Pillsbury colleagues Brian H. MontgomeryCraig J. SapersteinDeborah S. Thoren-PedenJiJi ParkThe Honorable William Lacy Clay Jr.Yvette Puckett Cravins, and Daniel C. Wood explain additional insights in Senate Confirms Rohit Chopra as CFPB Director.

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A first for commercial real estate occurs, proptech sees a significant increase in venture capital funding, the Victorian government shuts down all construction sites after protests turn violent, and more. Continue Reading ›

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Smart-construction-vr-166065766-300x189“Smart Construction” is a loose term but generally refers to the development and use of processes and applications that improve construction planning and the management of projects (thereby potentially streamlining costs of construction).

The increased deployment of collaboration tools (e.g., Zoom, Microsoft Teams, WebEx) and other cloud-based technology solutions during the COVID-19 pandemic will invariably result in more efficient project management in construction going forward. These type of efficiencies are sorely needed, especially as the industry is trying to recover from supply chain issues, lockdown challenges and social distancing requirements resulting from the pandemic.

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AI_Report_Social1080p-2-300x169The common connotation of AI related to cybersecurity relates to technology infrastructure; however, such systems underpin a wide variety of applications to enhance cyber defenses more generally. Physical security, for example, is important as potential intruders can use in-person ways to gain access to corporate networks. This is particularly important to some sectors—such as real estate—in light of the rise of smart cities that rely on technologies such as facial recognition and various sensors.

Pillsbury has published a new research report that seeks to illuminate the important role artificial intelligence stands to play in defending against cyberattacks and data leaks. Titled “Artificial Intelligence & Cybersecurity: Balancing Innovation, Execution and Risk” and written by The Economist Intelligence Unit (EIU), the 22-page report uses extensive research and expert interviews to examine how AI can help strengthen cybersecurity, how the growing need for data to train AI systems is intensifying concerns around privacy, and how companies can anticipate risk.

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Proptech-817442226-300x200The commercial real estate industry is increasingly adopting proptech to unearth savings and business insights. But companies need to be careful. Security and privacy are two foundational components of a successful data analytics initiative. Ensuring the information is stored securely while adhering to the complex framework of privacy laws will be instrumental to a real estate organization’s success with data. Why? If the information is not kept safe or is used contrary to law or the commitments a business has made to consumers, companies will face fines, regulatory investigations and customer ire.

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