Industry 4.0: An Opportunity
With the rise and advancement of technologies including IoT, Cloud Computing and AI, the world is rapidly hurtling towards Industry 4.0 – a fourth industrial revolution. The real estate industry; which has traditionally been a laggard in the adoption of technology, is now at a point where a shift is starting to occur – a shift that is seeing more and more building owners and managers looking for (smart building) solutions to transform their real estate portfolios. As smart buildings become more prevalent, and the world moves towards smart cities, how can Australian cities including Sydney and Melbourne compete on the global stage? How will owners and operators of real estate embrace the technological disruption to ensure their buildings are future-ready in preparation for the smart cities of the future?
How will the owners of real estate embrace disruption?
These were the questions raised at Frontier Advisors’ 2019 Annual Conference at which Willow’s Chief Product Officer and Co-Founder, Dale Brett, was a featured presenter. The annual conference was attended by investors from a range of superannuation funds who were eager to understand how technology is disrupting the real estate industry and the implications for investment into real estate portfolios. To answer these questions, Frontier Advisors brought together a cross-section of experts from across economics, data science and technology, who took part in a panel discussion on the day. Dale was joined on the panel by Ethos Urban Director, Chris McNeill and Vicinity Centres General Manager – Data Science and Insights, Genevieve Elliott. Throughout the event, the panel discussed topics including Metro Urbanisation – the Metropolitan Century, and Disruptors within the real estate industry such as autonomous vehicles and shifting business models.
One of the key themes discussed however, was Digital Tech, PropTech and Big Data, and the implications of these disruptors for the real estate industry. As smart devices and IoT sensors become commonplace within the built world, the amount of data produced by buildings is increasing exponentially (Deloitte, 2019). Technology is rapidly changing the real estate industry, and data is at the forefront of this change. Building owners and operators must embrace the power of this data, moving away from the legacy systems currently used to manage their buildings and moving towards smart building technology.
Willow helps owners of buildings to be future-ready
Whilst collecting building data through IoT sensors and smart devices is important, it has no value unless the data is analysed and acted upon. With Willow, owners and operators of buildings have the ability to harness, visualise and analyse their building data through a single pane of glass, then act on the data insights through integrations including fault detection, maintenance and occupant experience. Technology such as our WillowTwin™ platform empowers building owners and operators to not only improve the performance and experience of their buildings but also to digitise their portfolio, ensuring the building is future-ready in preparation for the smart cities of the future.
At our core, Willow is developing the technology to modernise any building (new or existing) and bring it online, so building owners and operators can access new technology in an integrated and safe way. We are using the digital twin as a layer to integrate point solutions into a single easy to use platform. With Willow, owners can make their portfolios future-ready and maintain the competitiveness of our major cities.
Deloitte 2019, REflexions Magazine Issue 9, Deloitte, Luxembourg
Callum Whitley is the Marketing Coordinator at Willow