In proptech, three forms of technologies are particularly pertinent and pervasive: blockchain, augmented reality (AR) and artificial intelligence (AI). In Singapore, these technologies are already making their impact felt in the real estate industry with their adoption by startups, global corporations and the government.
It is certain that proptech will have an impact on traditional business operating models. Whether this impact turns out to be positive or negative depends largely on how real estate players will use them to their advantage.
Nevertheless, these technologies are still a long way away from replacing human judgment, touch, and ability to react to dynamic changes, which are all critical to the decision-making process.