Historically steeped in tradition, the real estate industry is undergoing a dynamic transformation fueled by digitalization and artificial intelligence (AI). From perspectives to processes, things are evolving to become more nimble, seamless, and dynamic, and that is a deal-clincher in the context of job growth and the impact that real estate can have in relation to it.
In many ways, digital transformation is all about lending an unprecedented sense of recyclability, simplicity, swiftness and efficiency to the way the entire system operates and functions. From land surveys to project planning and architecture to final construction and maintenance, the adoption of digital technologies aims to make SOPs that much smarter, leading to the evolution of new job profiles that call for truly disruptive and next-gen skill sets, thus making them more aligned with the aptitude, interests, and tastes of a youth-heavy demographic like ours.
Now let us dive deep into how this digital revolution is creating a wave of exciting new job prospects and growth opportunities.
Continued and Evolved Roles – The Digital Way Forward:
By harnessing the power of digitization, we can create a seamless, sustainable growth journey for everyone that truly creates an impact at the grassroots level. Dynamic and decentralised systems with rapid response times, date-backed methodologies, and streamlined workflows create an environment where ability is not only appreciated but also allowed to enhance, diversify, and advance, leading to a multitude of openings across functionalities.
Continuous Learning
The ever-evolving digital landscape demands a commitment to continuous learning, creating a thriving knowledge ecosystem that anyone can leverage. A convergence of specialised and generic skill sets would ensure that everyone could now get a job within the overall scheme of things, from the engineers and architects to the facility operations and support staff. And with more avenues opening up for re-skilling and upskilling, the ability to move up the value ladder will become that much more lucrative, open, and accessible, allowing professionals to have a career path that is always forward-looking and truly rewarding.
Seamless Culture
With the integration of various digital platforms and tools, organizations are now creating a more linear and dehierarchized work environment with a perspective that truly rewards innovation and initiative. This has led to more cross-pollinations, cross-specialisations, and collaborations where information and wisdom are no longer compartmentalised, enabling an impactful spirit of teamwork that goes beyond demographics, geographies, and skill levels. Overall, all this creates an employment ecosystem that is truly inclusive, open, democratic, and accessible, with a focus more on what you can do than anything else, and that’s the X-factor through which real estate will now become a dynamo for job growth across age and qualification strata.
Role of AI in Generating Employment
To some extent, there are people who raise concerns about AI replacing human jobs, but in fact, the truth of the matter is a lot more complicated than that. AI enhances the ability to do things, making both ideation and execution that much more seamless, and the quicker people accept that and recalibrate their strengths, the better, because once real estate truly embraces AI, I expect a deluge of new job roles to follow, and people who have the needed attitude and skills would definitely benefit from that.
Enhanced Decision-Making
With greater adoption of AI and data-backed methodologies, processes, insights, and solutions would become much smarter and more profitable. This will only help real estate professionals to scale up and climb the growth ladder that much faster, as they will now be able to make informed choices on investments, property values, and market dynamics and derive optimal outcomes at greater frequencies, enabling them to break through key performance milestones without much of a sweat.
Emerging Job Roles
As real estate becomes more driven by digital technologies like AI and IoT, amongst others, I expect more new and specialized job roles to open, which will require greater recruitment of people with the desired skill sets. So, those who are willing to evolve with the times and make their abilities future-ready would truly benefit from this. Key strengths like the ability to interpret and analyse information, think critically, solve complex problems, and have strong communication and interpersonal skills would be in demand, and I reasonably expect them to be perfectly aligned with the attitude, aptitude, and preference of the new social media-savvy generation. Therefore, I expect real estate to become a goldmine in this regard, something that many would have never thought of before.
To conclude, I would only state this: real estate and construction have always been human-intensive phenomena, and that wouldn’t change. What would change with increasing digitization are the needs and responsibilities, making them both much more agreeable and palatable for the digital Indian of today, and that is the biggest takeaway that everyone should acknowledge.
Author Bio - With over thirty years of experience, Pujit Aggarwal is a seasoned real estate entrepreneur who has disrupted and positively transformed the industry by unmatched brilliance in strategy, design, and execution. He is the creative force behind several incredibly outstanding initiatives that have raised the bar.
