AI’s Impact On Commercial Real Estate
AI and automation is forcing big changes in white-collar industries as these roles become more reliant on modern technology to operate.
AI is expected to impact how we use offices, how commercial real estate leaders build out their spaces, and how employees interact with the workspace overall.
“What we’ve seen over the last year is the office is being redefined, and employers are stepping back and trying to understand the purpose of physical space,” said Kathleen Cahill, Global Innovation Hub Head at Cushman & Wakefield. “The commonality is that physical space needs to drive more value to employers and occupiers, and technology is the main way to do that.”
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In fact, a 2020 survey from Deloitte found that 8 in 10 corporate effects had already incorporated some type of automation to take over repetitive tasks and improve efficiency.
According to Mark Muro, policy director at the Brookings Institution’s Metropolitan Policy Program, expects that technology will become a mainstay of the office in the future. These tools have the ability to improve productivity and allow professionals to focus on higher-level tasks that require the human touch.
Along with this, the way CRE is managed and operated will be transformed. In fact, Global Workspace Analytics president Kate Lister stated that 80% of typical floor space will be dedicated for collaboration rather than personal use.
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