The property and real estate industry is still a relatively traditional industry that has been slow to adopt modern technologies. But this is changing as the industry is undergoing a significant digital transformation.
PropTech startups and scaleups are leveraging emerging technologies and impact various aspects of the industry. The use of technology is broadly focused on two fronts, how to improve the client-tenant experience throughout the property lifecycle and how to make informed investment decisions within the industry.
Technologies like artificial intelligence (AI), virtual reality (VR), augmented reality (AR), as well as the internet of things (IoT), are the major emerging property technology trends today. The use of these technologies in real estate is still in its nascent stages, however, with rapid innovation taking place. This is an indication of the future growth and potential of this sector as well as the immense opportunities that lie ahead.
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