Why everyone is talking about Proptech

Smart buildings, smart cities, and a smarter world. Everything seems to be synonymous with Proptech. Technologies such as AI, machine learning, IoT, and big data push the phenomenon forward. It's a digital revolution that will shake up the real estate industry as we know it.
  • Maria Sotberg

    Writer

  • Åsmund Svinndal

    CBDO

published

updated

Proptech
Photo by FotografieLink on Pixabay

Proptech is something everyone is talking about. Often in the context of newer, bigger, and better technologies. The emergence of new companies pioneering the latest new and bold technology. The way you collect and use big data is becoming increasingly important.

What is Proptech?

Proptech, or Property technology (also referred to as Real Estate tech or Realtech) can be summarized as all the tools, solutions, and information technology used to optimize the way people buy, sell, market, or manage a property. In building management, it creates new opportunities for investors, owners, managers, and tenants alike, providing more sustainable businesses worldwide.

A new world of confusion?

As new solutions emerge, skepticism and confusion grow alongside them. The technology is somewhat new, but the problem remains the same – how will this make building operations easier? For owners, operators, and managers, it all revolves around how technologies will work together to make everyday life easier – and our footprints smaller. 

The answer to what value Proptech provides is then maybe not just the technology itself, but the value created when we come together. For us here at Kiona, Proptech isn't just a buzzword or the latest thing being developed in the tech world – it's the solutions that make it possible for new technologies to communicate with each other. It's the collection of data and several billion stored data points that can be shared further.  

It's the ecosystem of the future.   

An ecosystem undergoing change

Sharing the ecosystem allows us to further develop the technology and use it in a better way. We must fulfill our green ambition with sustainable solutions. Using new technology to make new and existing buildings energy efficient will make it easier to meet global climate goals, and much of the work is already underway.   

Sensor technology is here to stay. Machine learning and AI are the beginning of data-driven, intelligent buildings that can control themselves and continuously learn new patterns, and AI technology is only getting smarter and smarter.   

In five years, self-learning will be a part of everyday life for everyone managing buildings. Maybe we'll see virtual sensors that can operate buildings with the help of machine learning and historical data from the same type of building when an existing building lacks the necessary technology.  

In the future, the limit is not what we can develop but how much we can create using the data we already have.   

Technologies of the future are created by collecting and sharing data

Our core expertise today lies in integrating different systems – regardless of the brand. Our strength is staying ahead on everything necessary for data collection.   

We will continue to push the industry to share valuable data with everyone. The industry standard, Kiona Ready, is proof of this – or rather: just the beginning. But it's not enough to blindly share – the data must be able to actually work together to create something really useful.   

No one player can solve everything, and a well-functioning ecosystem will be crucial to the success of the digitization of the industry. It's about many players getting good at their niche or the experts crunching different data and passing it on.   

Proptech doesn't just provide value for its creators but for the entire value chain. Only then can we talk about a revolution.

  • API
  • AI
  • SCADA
  • Technical systems integrations
  • Open protocols

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