In the week we bring the best of EG’s tech and innovation arm Halo into the magazine with a new dedicated technology section, much of the news in the sector remains focused on the ongoing Covid-19 pandemic.
It comes as little surprise that start-ups are suffering as the crisis continues. Nearly half of UK proptech firms are set for “survival mode” over the next three months, according to research by the UK PropTech Association. In a survey of its members on the impact of Covid-19 on their businesses, the UKPA found that 43% of proptech companies are planning for survival over the next quarter, 25% are preparing for stagnation and 6.3% fear closure. A quarter, however, remain bullish and expect growth.
While the crisis has hit many tech firms hard, it looks set to rapidly modernise swathes of the real estate sector as there has been an enforced recognition of the value of certain technologies that have been available for some time but that many were avoiding. From online viewings to a renewed appreciation for tools and platforms which allow property and asset managers to keep an eye on their portfolios without being there in person, the pandemic has forced the sector to think, operate and act more digitally.
In other news, JLL’s head of technology consulting Akshay Thakur warned that fears over cyber security could dumb down smart buildings. Speaking on EG’s Tech Talk Radio podcast, he said there were ways to mitigate against attacks that do not require attempts to “completely avoid” new, connected technology and warned that avoiding the adoption of connected technologies such as sensors and internet-enabled devices limits new experiences within buildings.
Head to EG’s tech site Halo for more on Matterport’s hire of WeWork’s former marketing boss, PiLab’s eighth accelerator programme launch and why the government has turned to the tech sector for help during lockdown.
