IREM’s Innovator-in-Residence: ‘Don’t Fear Tech; Embrace It’

James Scott, Lead researcher at the MIT Real Estate Innovation Lab and newly appointed Innovator-in-Residence for IREM (Institute of Real Estate Management,) is helping real estate managers and building owners get a better understanding of the new technologies and products available for the built environment.  One of the biggest challenges for real estate professionals, Scott argues, is the integration of multiple systems, and automation can help: “This new wave of technology is really starting to make an impact in real estate, [and] these technologies are no longer just about potential and start-up companies.” Digital twin technology, in particular, will have the biggest impact on real estate because it allows for greater data analysis and system monitoring of a building at a specific moment of time.  Overall, there are real efficiencies to be created by products that can provide far greater insight and understanding than ever before within an actual asset: “I’d love the audience to see that automation and technology are not things to be feared, but embraced and taken on board to maximize efficiencies and, ultimately, create value.”