Examination Notice: 2024 Digitalisation Study by ZIA and EY Real Estate: 'Is Artificial Intelligence Revolutionizing the Real Estate Sector?'
On Tuesday, September 3, 2024, at 10:00 AM, representatives of the media are invited to a hybrid press conference at Leipziger Platz 9, 10117 Berlin, on the third floor, in Room "Capital Studio". The event will feature the presentation of the "AI - A 'Game Changer' in the Real Estate Industry?" study by ZIA (Zentraler Immobilien Ausschuss) and EY Real Estate.
The study delves into the transformative potential of artificial intelligence (AI) and digitalization on Germany’s real estate sector. While the full report is not yet available, the themes and examples discussed align with industry trends and initiatives highlighted by leading real estate companies.
Key Opportunities
The study reveals several key opportunities for the real estate industry, including operational efficiency and cost reduction, sustainability, and service diversification. For instance, AI-driven building management systems have delivered tangible results, such as a 28% reduction in energy costs at the QUADRA building without any structural changes. Integrated control systems, digital water meters, and digital emissions platforms also support sustainability and efficient resource use.
Major Challenges
Despite the opportunities, the study also highlights significant challenges, such as digital transformation complexity, regulatory and compliance hurdles, and skills and culture issues. For example, successfully implementing AI and IoT solutions requires seamless integration of diverse building systems, which can be technically and organizationally challenging. Additionally, reliable, high-quality data and interoperable platforms are essential for effective AI deployment but can be difficult to achieve across legacy systems.
Social and Strategic Dimensions
The study also explores the social and strategic dimensions of digitalization in the real estate industry. For instance, leading firms are committing to social sustainability through diversity initiatives and community engagement projects. Digitalization is also seen as a foundation for growth, enabling firms to scale services, enter new markets, and respond to market shifts with agility.
Press Conference Details
The press conference will be attended by ZIA CEO Aygül Özkan and Dr. Alexander Hellmuth, Partner at EY Real Estate. If you'd like to participate digitally, you will receive a link. For more information or to RSVP, please email [email protected]. For further questions, you can contact 030 20 21 585 17.
[1] Source: ZIA and EY Real Estate's Digitalization Study 2024 (not yet available in full)
The document sent for this press event is titled "240830_Reminder_PressEconomy.pdf" and has a size of 119 kB.
- The study conducted by ZIA (Zentraler Immobilien Ausschuss) and EY Real Estate examines the role of artificial intelligence and digitalization in revolutionizing Germany's real estate sector, focusing on key opportunities such as operational efficiency, sustainability, and service diversification.
- The study also reveals critical challenges that the real estate industry may face during digital transformation, including complexities in adopting AI and IoT solutions, regulatory and compliance obstacles, and cultural and skills issues.
- The investigative research further delves into the social and strategic dimensions of digitalization in the real estate sector, highlighting how committed firms are addressing sustainability through diversity initiatives and community engagement projects, while also viewing digitalization as a foundation for growth, enabling them to scale services, enter new markets, and swiftly adapt to market shifts.
