(Illustrations by Daniel Nyari) UPDATED, Feb. 2, 10:14 a.m.: Just 20 years ago, fax machines were in wide use and most people didn’t have cell phones.
Fast forward to today, and smartphones are inescapable and personal hotspots are tucked into everyone’s pockets. The real estate industry has seen its own advances during that time, with drones debuting on construction sites and prefabricated modular apartments now being snapped together easily onsite.
Today, for example, it’s virtually impossible to ignore the white-hot Bitcoin craze and barrage of news about how cryptocurrencies and blockchain could revolutionize real estate. But the next big tech revolution in New York’s trillion-dollar real estate business could be far more disruptive.
In the near future, the industry could see smart buildings fully controlled by technology, robots taking the place of construction workers and New York City skyscrapers being made by 3D printers. Meanwhile, property leases, loans and investment transactions may be handled without any human involvement, observers say, thanks to artificial intelligence.
“I only see the pace of change accelerating,” said James Barrett, chief innovation officer at Turner Construction, one of the largest construction management firms in the country. This month, on the heels of the bustling CES tech conference in Las Vegas, The Real Deal broke down some of the innovations with the greatest potential to upend the real estate industry — from artificial intelligence and virtual reality to people-tracking beacons and blockchain. Read more from therealdeal.com…
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