PropTech game changers look ahead to 2019

2019 is primed to be the year when PropTech moves from concept to reality for many real estate companies, with AI and machine learning as the key ‘tech to watch’. This was the consensus from Angelica Krystle Donati’s recent Forbes article, which discusses perspectives from five PropTech startup game changers including PRODA.

Data standardisation was highlighted as a top priority for 2019. According to Donati, “Data will continue to be key, and the creation of a common data standard…can make a crucial difference to deep tech innovation in real estate. This is particularly important as deep technologies such as AI will be those that deliver an exponential value-add.”

PRODA at Women in Property PropTech event

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Our CEO Peter Bredthauer joined a panel of five PropTech game changers to showcase PRODA at the Women in Property PropTech 2018 event (6 December, London). Chaired by Angelica Krystle Donati, CEO of Donati Immobiliare Group, this interactive session explored how PropTech is changing the way the real estate industry does business.

As well as explaining their product, each company gave their perspective on key advances in the 2018 PropTech landscape and opportunities for 2019. There was a consensus that real estate companies are moving from thinking to doing in terms of digital strategy, and new technologies including AI form a part of this.

Peter said, “I’d like to thank Women in Property for giving PRODA the chance to present. Events like this are a great opportunity for us to gain direct feedback from real estate professionals, and to link up with other players in the PropTech space.”

You can follow the coverage at Property Investor Today and Unissu.

Knight Frank/PRODA partnership announced

We are delighted to announce that Knight Frank have become a PRODA beta testing partner.

Josh Morris, associate in the global capital markets team at Knight Frank, said: “We are excited to be testing PRODA at this key phase. Throughout Knight Frank we are proactively seeking ways to incorporate new technology into the way we do business and working with innovative, early-stage start-ups such as PRODA is giving us unparalleled insight into the new technologies available within the commercial real estate sector.

PRODA has the potential to significantly reduce the amount of time it takes to complete deals. Speeding up manual processes frees up time, so we can focus on providing high quality consultancy services and advice, benefiting not only our team day-to-day but also our clients.”

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Data & automation are key priorities: 2018 KPMG Global PropTech Survey

The eagerly-anticipated 2018 update to the KPMG Global PropTech Survey is here - and it’s a fascinating read. Having moved into PropTech from the real estate industry ourselves, we have perspectives from both sides of the ‘gap’, and it’s great to see those reflected in the discussion here. Firstly:

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This was true for both short-term impact (automation, 30% of respondents) and long-term impact (AI, 32% of respondents). Big data and analytics followed close behind, predicted as the most impactful areas by 27% and 17% of respondents in the short and long-term, respectively.

So how do we get there?

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Again, structured data comes to the forefront as an facilitator for digitalisation. According to KPMG, “this will enable (real estate companies) to make smarter, faster, data-driven decisions throughout their business.”

Data standardisation & the PropTech revolution

The real estate industry is ready for digitalisation - so what’s holding back the tide? Here at PRODA, we believe that unstructured property data is a key barrier, and automated data standardisation can be a powerful agent for change.

PRODA CEO and co-founder Peter Bredthauer said: “We’re happy to release our new white paper, ‘One language for the PropTech revolution: AI and data standardisation in real estate’. This article really captures our thinking about the huge potential of data standardisation for the industry, and why we believe that automation can help real estate professionals to access this opportunity. We’re hoping to start a conversation here - every company takes a different approach to managing their data, but unstructured data creates pain points that all of them face.”