Real Estate CEOs Are Missing Out on the Technology Opportunity

Real Estate CEOs Are Missing Out on the Technology Opportunity

Foto: Fotolia

In its 21st annual survey of CEOs from around the world, PwC found that technology does not top the agenda for real estate CEOs either as a threat or an opportunity.

Only 17% of real estate CEOs cite cyber threats as a danger to their growth prospects, compared with 40% of all CEOs who took part in the survey. While even fewer, only 10% of real estate CEOs, view the speed of technological change as a threat to their organisations compared with 38% of all CEOs.

Looking at opportunities only 20% of real estate CEOs said they clearly understood how robotics and artificial intelligence can improve customer services compared with 47% of all CEOs. Real estate also appears to be a bit behind the curve when it comes to future talent with  just 43% of real estate CEOs rethinking their human resources function to attract digital talent compared with 60% of CEOs overall.

“For most of its history, the capital-intensive real estate industry has had good reason to be slow moving and conservative. But times are changing. Technology, urbanisation and social changes are transforming how we live, work and play and therefore how we use real estate, meaning business leaders need to be bold and innovative if they will continue to succeed”, said Craig Hughes, global real estate leader, PwC.

“Our survey results suggest that real estate CEOs have some way to go if they are to meet digital disruption head on and reap the benefits. In our view, this process should start through building a more diverse group of talent, including data scientists and behavioural experts, to work alongside their existing talent and build the real estate champions of tomorrow.”

More from category

Regtech Will Account For 40 Percent Of Global Compliance Spend By 2023

Regtech Will Account For 40 Percent Of Global Compliance Spend By 2023

22 Oct 2018 comment

A new study from Juniper Research has found that spending on Regtech platforms will exceed $115 billion by 2023, up from an estimated $18 billion in 2018.

Talent Shortage Considered A Top Risk Among Executives

Talent Shortage Considered A Top Risk Among Executives

22 Oct 2018 comment

A shrinking pool of qualified candidates surfaced as a top business risk for global executives in risk, audit, finance and compliance, according to a recent survey by Gartner.

31 Percent HRs Believe Organizations Have the Culture to Drive Performance

31 Percent HRs Believe Organizations Have the Culture to Drive Performance

19 Oct 2018 comment

Aligning a company’s workforce with the desired culture can improve performance against revenue goals by 9 percent, according to Gartner.