More than 90% of real estate business occupiers are willing to pay a premium for technology-enabled workspace which could boost their revenue options.
Investment in technological solutions is set to outstrip expenditure on hiring new personnel and operating costs, according to research data from JLL’s 2023 Global Real Estate Technology Survey .
Sustainability tools look set to top the technology spends as business and regulatory pressures drive the net zero pursuit.
Clean energy solutions are predicted to have the greatest impact on the built environment over the next three years, the research indicates.
The report says 45% of occupiers plan to adopt energy/emissions management technology in the coming year with data science and modelling tools which analyse energy use, occupancy and financial costs rising 14% from 2022 to 2023.
Survey respondents identified AI as the technology most likely to have the greatest impact on real estate over the next three years although most admitted to having only limited understanding of it.
Health and wellbeing tech solutions rose from 25% to 48% and platforms to enable consolidated insights (47%) and drive predictive management (43%) are named among the top adoption priorities.
More than 40% also plan to introduce Immersive workplace technology, such as virtual reality and augmented reality.
Sharad Rastogi, CEO of Work Dynamics Technology at JLL, said: “Organisations are shifting their tech priorities from cost reduction to strategically improving their business… Occupiers are looking for technology that helps increase revenue, enhance business decision-making and improve their sustainability metrics.”
Syntegra MD Alan King said: “Technology will clearly play an increasingly important role in people’s lives so it is unsurprising to see the hikes in investment within workplaces.
“It is feasible to make technology work for you in all areas of sustainable solutions -some at comparatively low cost.
“We are happy to talk to clients about how technology can work for them, helping them to be responsible energy users, for example, and identifying how the implementation of certain tech can boost their bottom line.”