Gartner Trends for Real Estate
Every year, Gartner gives its predictions for trends in technology. These are closely followed by CTOs, to help their companies stay competitive. We asked Travtus co-founder and CTO Andrew Day to pick the Gartner trends he felt were most applicable to the real estate industry.
Gartner, founded in 1979, is one of the world’s preeminent technology research and consultation businesses. From its base in Stamford, Connecticut, it works in more than a hundred countries worldwide, closely tracking changes in technology and advising businesses on how to deploy it.
Gartner announced its Top Strategic Technology Trends 2023 in October 2022, giving CTOs and business leaders invaluable insight. David Groombridge, distinguished VP analyst at Gartner, says in his introduction to the report that "...Technology is key, but you have to know when and where technology trends will potentially have an impact."
From Gartner’s ten 2023 Trends, Andrew chose industry cloud platforms, platform engineering and adaptive AI as the most relevant to real estate and property management.
Industry Cloud Platforms
The Industry Cloud focuses the concept of shared files, data and services stored on remote servers, on specific industries, creating a platform tailored to the needs of an individual company. This speeds up processes, increases agility, improves performance and bolsters resilience to change.
"The industry cloud is the next evolution of cloud computing. Flexible and faster industry cloud solutions, like Travtus' AI teammate, Adam, are emerging to meet the real estate industry's ever-changing needs, faster and more efficiently than ever before." Andrew Day, Travtus
Read our longer article on industry cloud platforms.
Find out about Adam.
Platform Engineering
Platform Engineering is all about the link between the company infrastructure’s complex guts and the external user. With the correct company platform in place, developers can address end users' specific needs, curating suitable, integrated packages of tools and processes. This will replace any patchwork of systems a business previously used with bespoke solutions.
"Many real estate owners are outgrowing their current patchwork of off-the-shelf technology. The good news is that cutting-edge real estate businesses are adopting a platform engineering approach. In the next few years, this investment in tech will start to return, company-wide" Andrew Day, Travtus.
Read our longer article on platform engineering.
Adaptive AI
Adaptive AI is an evolution of artificial intelligence. A step where the AI learns continuously from new data, making it more agile and resilient in the face of real-world change. One key element of this improvement to AI is its ability to self-adapt: to "adjust for real-world changes that weren't known or foreseen…" (Gartner). It will also sift ever-increasing amounts of data with more precision to know what is most relevant to its goals. Gartner predicts that businesses adopting adaptive AI will have a performance advantage of at least 25% over their peers.
"If adaptive AI is correctly applied, owners and operators could find a solution that changes with the problem." Andrew Day, Travtus
Read our longer article on adaptive AI.