As head of property at London’s Tech City and a key member of the team involved in proptech accelerator Pi Labs, Juliette Morgan must have a good idea how the capital is likely to evolve in the next 10 years.
“We are at a really interesting crossroads in several areas,” she says. Almost literally, in the case of driverless cars and the growth of car charging points for alternative energy-driven vehicles. “These have all kinds of implications for land use in the capital and I don’t think they are very far away,” says Morgan.
Traffic on the streets is not the only issue she foresees, however. Morgan is not predicting Bladerunner-style hover cars just yet, but she believes drone delivery will be a reality by 2025, if not before, noting that one of London’s largest pollution spikes last year was in December, when internet shopping orders for Christmas gifts resulted in a massive increase in motorised delivery vehicle use.
Electric drones may be emission-free, but they bring their own matrix of potential problems. “There are privacy issues, the logistics of routing them so they don’t collide with each other or cross flight paths, where they land… can London respond to that?” asks Morgan.
She also notes that there are other, less visible, challenges facing the city over the coming years. While other capitals have been quick to provide leading-edge broadband, the UK’s top city has not kept up. “The internet is a real challenge for London and it will need to sort itself out,” she says.
But at least data can be broken into packets and easily routed via multiple channels. The same is not true of London’s power supply, which relies on an increasingly strained physical infrastructure. “The grid is a real issue,” she warns. At least proptech firms are already working on solutions.
What do other members of the London Forum think will change in the next 10 years?
Bill Page, head of business space research, Legal & General Property
“The response of office property to technological change is gradual rather than sudden. The next decade will not see a switch to a futuristic Jetsons-style environment but will see further evolution. These are the areas likely to see greatest change:
• Outside the office, transport efficiencies engendered by full automation of track networks and increasing efficiencies on the road (stopping short of driverless cars)
• In the office, building management systems capable of encouraging and adapting to flexible office use and embracing the internet of things;
• Cloud computing and better battery life, to reduce the need for cabling and hence raised floors and extend the life of older product. Together with new offices that offer the best technology (and dual power and fibre), this raises questions over the middle tier with no ‘story’.”
Jo Valentine, chief executive, London First
“The most important advance will be comprehensive broadband that is low-cost and at reliable speeds. Relative to other cities, London is lagging: New York is installing 10,000 WiFi beacons offering free 1,000-megabit internet, paid for by advertising. In London’s Tech City, businesses struggle on slow ‘up to’
connections. Large firms have access to leased line connections, but these are expensive and out of reach of the start-ups that are an important part of driving innovation and job creation.”
Alistair Kemp, head of central London research, BNP Paribas Real Estate
“Workplaces will inevitably move towards being paperless as we carry more of the traditional office tools with us. We will also be accessing business tools and market data from technology we are wearing. Key to all this mobility and flexibility will be connectivity and London must continue to improve in this area if it is to retain its position as the capital of European media tech.
“With this in mind, the ability for occupiers to flex-up their space during a period of growth has led to a surge in demand for serviced offices across London. The shift towards providing office space as a service is coming.”
Antony Slumbers, technology correspondent, Estates Gazette
“It is a truism that nothing much changes year to year but everything changes over 10. And just about everyone underestimates how much things will change. Think back to 2005 – no iPhone, Facebook, Twitter, Amazon Web Services, Google Street View, Chrome or Docs, Instagram, WhatsApp. Ten years hence we will say the same. By then cloud computing will be all pervasive, ultrafast broadband will be ubiquitous and robots will be everywhere.”
Simon Cookson, partner, DLA Piper
“While I think that human beings communicate most effectively face-to-face, my guess is that a combination of superfast connectivity and the introduction of artificial intelligence into professional services firms will shape the way business is done in London. This will make expertise, communication skills and creative thought more valuable.
“Faster and more secure connectivity will increasingly make it viable for more businesses to carry out trade virtually, remotely and on the move, but I do not see that displacing the need for businesses to congregate in London.”
