In the recent few years, we’ve seen an unprecedented change in the field of technology. With the introduction of Artificial Intelligence, Machine Learning, Blockchain, etc our life is becoming efficient as well as comfortable day by day. After the surge of Covid-19 casualty, technology has reached its prime time. Humanity had never felt this dire need of technology in order to survive.
Because pf Covid-19 many businesses went down, however, they did rise from the pit only because of the innovations. If it wouldn’t have been here, the economy of the World would have turned askew.
There was a technological gig amongst the company before the emergence of Covid too, but most of them used it for marketing purposes. However, as the entrepreneurs got a glimpse of the potential that is possible with the technologies. They began to adopt it to maximize their revenue. It is believed that the only industry that wasn’t interested in this surge of technological advancements was the real estate business. But, how long can an industry stay immune to technological advancements? So, upon learning the benefits of the technology the real-estate business decided to adopt it. But, to their surprise, their businesses began to grow at an unprecedented rate. Since then the real estate business around the world are adopting this measure to stay on the frontline.
Despite the use of innovation in real estate, the construction industry has been continuously using as well as giving birth to new ideas of innovation since ages. For example, improvement in tower crane technology resulted in the reduction of time as well as manual efforts while building an infrastructure. Still, now, several innovations in shaping the construction industries in vast new ways. Propelling it upward.
Real estate technology
There’s a huge demand for real estate mobile applications and websites amongst the buyer. In the traditional days, the buyer had to visit the place manually before making the final decision. Which took plenty of time from their busy schedule. It has also become helpful for the owners and the real estate agents. Nowadays they don’t have to meet a client or receive their call to clear their queries. The buyer can easily access any real estate business platform and look at the facts and information by themselves. It has turned their life stress-free and enjoyable.
Some of the latest updates in real estate technology are cited below:
1. Business intelligence
It refers to computer software that collects, stores, manages, and analyses the data produced by the company. It mainly comprises property information as well as information on certain deals. It analyses the bulk data at an instant and offers productive decisions, predictions, and strategy to the owner, real estate agents of the company, helping it to prosper in the long run.
2. Artificial intelligence
Artificial intelligence evaluates through all the big data and provides the company with appropriate ideas on the growth of the business. This innovation Helps in making smarter decisions by going through plausible patterns. Artificial intelligence guards the business by securing the important information tightly as well integrated with robust internet of things device framework to commence high-quality management of the property, better control of power and other non-renewable resources and by tightening the security.
An appropriate example of AI in Real Estate technology is the personalized search box of a real estate mobile application or website, where the AI goes through all the property information in a moment and presents the clients according to their expectations.
3. Virtual reality in augmented reality
Another ground breaking appliance of innovation in the real estate business. In the old days, it was a tiresome activity for both the agent and the clients for having to visit a property physically. If the property doesn’t match with the client’s desire they had to opt for another option if it’s still not desirable then the next one and this keeps on going like this as if Trapped in an insignificant worthless loop.
Not to mention, it wastes the time as well as the capital of both parties. But, after the introduction of Virtual Reality, the clients can take a look at the property with appropriate devices without having to visit them physically. It provides an experience where the client feels like he’s walking through the property in real life. The appliance of this piece of technology is both satisfactory to the client as well as the owner, as they no longer need to run from one place to another inspecting different properties. Within an hour they can go through all the properties and make the final decision with a snap of their fingers.
Meanwhile augmented reality is used specifically for staging a house. The clients each agent meets daily don’t have the same taste. Now, If it is a couple looking for a place to start a new life, then the next one can be a bachelor music director who is looking for an apartment to make a home studio along with his living space. Here staging the house for each client is tiresome as well as time-consuming. Not to mention the fact that In a real estate business time is regarded as a necessary asset for success. By using Augmented reality the agent can easily stage up the house at an instant to different clients. It is an utterly helpful innovation for the house owner as well as the agents.
Construction technology In India
Construction technology refers to the utilization of innovative tools, heavy machinery, software, etc to make in-field advancements in the construction phase of a project, these technologies can be either semi-automated or automated.
Some of the latest updates in the construction project are cited below:
1. Big data
There are often casualties reported in construction sites. by using Big data to look for patterns and probabilities to minimize the chances of casualty.
Big data comprises useful valid information aka data, that is evaluated by the algorithm to point out all the legit, useful facts and can offer a better strategy to the builder while making a smart decision.
2. Artificial intelligence
Artificial intelligence is beneficial in making error-free rich designs so that the infrastructure lasts long and it can execute a mundane repetitive task to minimize the period of a project helping to provide the crew with more time to focus on the construction process.
Does it also help in making appropriate financial decisions by calculating the factors of the project, such as how much cement the project will need? How much rod does it need? These tasks are mundane and sometimes there’s a possibility of miscalculation. But Using an AI can be beneficial as it will only give out suggestions based completely on its programmed database.
3. Automation
The latest trend in technology, automation is a boon for construction industries. It is utterly beneficial in a construction project. For instance, in some places, it can be risky to send a man to complete the task. In that task using automation is advisable as it is programmed only to perform risky jobs and it has the tendency to complete the task without any error.
Conclusion
Technology has an unprecedented amount of potential in it. There’s no doubt that advancements in technology have made our life comfortable with each step. But, the full-scale potential of the technology still has to be discovered. Various researchers, scientists, and developers are making huge discoveries daily, which gives us an idea of how small we have achieved till now. There’s a whole ocean out there to measure.