The Top 4 Proptech Trends To Look Out For in 2019
2018 has been a milestone year in the world of PropTech; from huge advances in AI, to new ways to manage portfolios and assets, to using virtual reality to give property tours, to even utilising blockchain technology in property transactions. From global business owners to the everyday interaction between landlords and tenants, the PropTech tremble has been felt by all within Property & Construction.
With 2018 now behind us, our research indicates that 2019 will surpass 2018 in its Property Technology insight and innovation. Here are our 4 predictions for what PropTech will mean in 2019.
Data is the word
2018 was the year of GDPR; with most companies owning these important new guidelines when it comes to personal data regulation and protection, 2019 will be the year that data can be properly and wisely managed to promote business growth. If you were, however, somebody who struggled to fully adapt your business to the GDPR regulations (looking at you, those who didn’t BCC contacts in your GDPR e-mail, leaving all e-mail addresses up for grabs), technology is also here to help you equip yourself for GDPR! In this new age, you can automate your data protection processes to avoid margin for error.
There has also been a notable shift in the way companies rely on information supplied by third party sources. With more and more companies opting to conduct their own research and come to their own conclusions, research is becoming more unique and sought after from specific companies; 79% of Enterprise Executives thought that companies who do not harness the power of ‘Big Data’ will lose their competitive edge in the market. There is an almost infinite amount of data available to us and with the right technology to translate and utilise this, businesses will be able to become smarter.
Customer relations will become more transparent.
A theme very much continuing from 2018 and from previous years, is no longer are the interactions between vendors and customers private. There are now numerous platforms available to highlight customer experience, both good and bad, in the public sphere.
One of these tools to enhance customer experience will inevitably be AI, which really grew strength in 2018 and is set to be another trend of 2019, with Microsoft promising the launch of AI updates. You will have most likely come across a ‘chatbot’ on a business’s website – a fairly basic level of AI. With 8 in 10 companies either having already implemented AI, or with plans to do so by the end of this year, 2019 will be the year it takes its place in the everyday. Companies will need to learn how to harness available tools and platforms, as well as create the processes needed, to provide an optimal customer experiences.
Flexible working will become a must.
The chance to work flexibly is one of the most sought-after benefits to the modern-day workforce, with 70% of UK workers believing that it’s important for businesses to allow their employees to work remotely. With continuous advances in technology, remote working has become easier and easier to the extent that it’s no longer highly technical or expensive.
As we approach 2019, the question will no longer be “should employees be able to work from home?” 2019 will be the year of “do employees work better from home?” 58% of workers believe that working from home boosts their motivation; if productivity soars in a home-working environment, plus increased morale from the chance to miss out on a long commute, the reasons to not support home-working become less and less.
Attracting talent will be more competitive.
Talent acquisition is an extremely competitive field within Property & Construction, and with the introduction of Google Jobs in the latter end of 2019, this will only become more so. Such as with remote-working detailed above, companies are becoming more agile and more creative in their approach to attracting and retaining talent.
These days, job-seekers are able to view everything about a company, including anonymous company reviews on Glassdoor, the most recent Christmas party snaps on Instagram, to thhttps://www.emergenetics.com/blog/social-media-talent-acquisition/eir thought pieces on LinkedIn; a potential employee will most likely make up their mind about your company before even meeting you.
73% of companies use their office culture to gain that extra edge above competition; a consistent brand message across all these platforms (and others) is essential to appealing to the right talent. At a basic level, having these platforms is key for building brand presence for talent. Looking further, keeping an eye out for emerging platforms is another key way to set yourself apart from the crowd – with the emergence of the podcast industry, is a company podcast with your industry insights the way to gain attention?
It will become one of the most decisive factors within a company.
Whether or not PropTech is embraced and harnessed to fulfil its potential this will become the reason some companies succeed and some struggle. It will mean greater efficiency in the workplace plus with emerging PropTech start-ups on the horizon, in 2019, it will be more vital than ever for companies to allocate assets and take advantage of PropTech.
Are you keen to learn more about PropTech and how to incorporate it into your business model or if you’re looking to make your next move within IT & Digital, Contact Daniel May, Blayze Group’s Principal Consultant within IT & Digital; firstname.lastname@example.org | 0207 337 7500.