Emerging technologies have the potential of changing the entire face of the industry they are deployed in. Generally, they are new and disruptive but can also include earlier technologies that are still controversial and relatively underutilized compared to their potential. Diverse technologies are emerging in education, information, nanotechnology, biotechnology, cognitive science, psycho-technology, robotics, and artificial intelligence. AI, Robotics, IOT are some of the well-recognized emerging technologies in the world today.
They represent technical innovations and changes required for dynamic developments within a field for ambitious advantage. In any industry, therefore, its technologies play a vital role as they bring growth acceleration. Similarly, emerging technologies are playing a crucial role in the development of the sector by bringing about watershed changes in the Built Environment. They are changing the very shape of cities.
Even though the BE industry continues to use some obsolete acquisition models, purchasing structures and policies which hampers digital integration, some emerging technology is improving BE industry by expanding its efficiencies and opportunities across the life-cycle of amenities, such as those created by systems like building information modelling (BIM). Other technologies transforming the built environment sector are Drones for hazardous construction, 3D printing to create structural walls on the buildings and Building Information Modeling (BIM), a process which requires the generation and management of digital representations of physical and functional characteristics of places, Smart devices, and Virtual reality for visualization of construction.
Emerging technologies are responsible for the upgradation of urban areas to smart cities and automated processes herald new business opportunities. Artificial intelligence (AI), the Internet of Things (IOT), robotics and other technologies are transforming environment underpinning the future of real estate industry.
The influence of technological disruption has impacted this industry to transcend the possibility of automation in construction or the introduction of robotic substitution of real estate agents. The question then arises is as to how will these broader consequences shape our built environment?
The industry thinks that the introduction of technological innovation will elongate our life expectancy, completely alter the job market and affect our ecosphere and social life.
These incredible tech advancements are optimizing efficiency and productivity at every stage, from planning to construction. Indeed, many within the industry predict that in a decade a building site will look very different.
According to the UN Department of Economic and Social Affairs (UN DESA), world’s urban population is predicted to be increased by 35% by 2050 in 3 countries i.e. India, China, and Nigeria, and among these three, India’s urban population will be the maximum. In terms of steep numbers, the largest urban transformation of the 21st century is happening in India.
The Indian real estate and infrastructure industry is a decisive contributor to the growth of this sector. India’s real estate sector is expected to contribute 13% of the country’s GDP by 2025 and reach a market size by $1 trillion by 2030, as reported by the World Economic Forum. This will bring colossal change in the use of emerging technologies in the built environment sector.
According to a survey, the real estate sector is accountable for more than 20% of carbon emissions, which must be significantly reduced to avoid further destabilizing our climate and to meet the future challenges from demographic changes. The combination of 3D printing and synthetic biology is expected to create a more sustainable industry.
The 3D printed structures will be more flexible and improve structural stability, increasing the life cycle and decreasing maintenance of the built environment, while reducing the input of resources. While the combination of these technologies might provide a more sustainable built environment, it may also disrupt manufacturing and logistics, affecting entire communities’ job markets.
The following five technologies are slated to the game-changers in the construction world:
2) 3D Printing
3) Building Information Modelling
4) Smart Devices
5) Virtual Reality
With all the above changes, the skill set required of human resources for the built environment is already undergoing a sea-change. For producing appropriately skilled workforce, only the right kind of education will be able to cater to the BE sector.
The Built Environment is a large, diverse and exhilarating industry with traditional areas such as construction, property, and land surveying. It is a career path that is academically disciplined, intellectually rigorous with full of philosophy and at the same time students get opportunities to build, make and design their own dreams through their techno-managerial skills (Combination of technology & Management skills). Professions within the new-age Built Environment consist of design, engineering, surveying, management, and planning.
The only way to develop the above skills is for students desirous of joining this sector to join the techno-managerial courses offered by various universities across the nation which are validated by the higher education regulatory bodies and internationally recognized. MBA in Construction, Real Estate, and Urban Infrastructure has the capability to address these skills meeting the requirements of Real Estate and Urban Infrastructure Sector. Such courses developed by universities shall definitely bridge the requirement of human resource gap to meet the industry demand.
The future of our built environment is in our hands. We have to decide what kind of houses we want to live in; what kind of offices and factories we want to work in; and how much work and effort we are willing to put in to make our ‘wants’ a reality.
The author is Associate Dean & Director, RICS School of Built Environment, Mumbai.