[caption id="attachment_21129" align="aligncenter" width="700"] CREforge was hosted in Chicago. Pic courtesy cre.tech[/caption]
A tech-based hackathon was held recently in the US to help bust down barriers for problems in the property sector around artificial intelligence, augmented reality and using data for design, reports cre.tech.
CREforge was hosted in Chicago by Houston-based real estate giant Transwestern and hooked up four commercial companies with innovative tech developers, coders and designers to solve problems posed by the companies.
Some of the solutions from the event included ways to use augmented reality to project 3D building renderings onto everything from tabletops to land sites, and allow clients to see a 360-degree view of a project before it’s built.
Another solution was to how to capture emotional data to inform the design of an office interior through a platform in which clients select images of various finishes and design features that are then instantly converted into a preliminary space plan and budget to provide a better starting point in the design of a new office space.
Artificial intelligence was always going to be on the agenda, and the specific issue of creating artificial intelligence bots to pull data from multiple servers and quickly extract specific inventory, order and delivery information for clients – a function that used to take a half-dozen employees hours to complete – was explored by the hackers.
The other innovation explored during the event was a way to fill commercial vacancies by utilising dating-site algorithms to “match” commercial tenants with landlords through a bidding process.
Mike Watts, President of Transwestern’s Midwest, said commercial real estate sector needed to catch up with tech.
“It’s no secret that commercial real estate is a late adopter of technology,” he said.
“Our industry is ripe for innovation, and there’s no better place to move the needle than Chicago, home to one of the fastest-growing tech communities in the country.”
“CREforge is a way for us to show other real estate professionals – everyone from architects and developers to brokers and service providers – how we all can use technology to overcome obstacles and change the way we do business.
“ While the hackathon itself is over, our effort to ‘forge’ a synergistic relationship between tech and real estate is just beginning.”