Highlights from Realcomm Conference 2024
Realcomm hosts one of the premier annual conferences across the real estate industry. With a focus on the intersection of technology, innovation, and real estate operations, attendees can always expect the most current, comprehensive and thoughtful discussions about what is driving the industry today. This year’s event topic, ‘Beyond the Hype: Business-Driven Technology Strategies for a Shifting CRE Market’ had set the stage to learn about the latest in technology, actionable tips for implementing new tools, and how teams are establishing strong fundamentals to manage these changes.
As a long-time sponsor of Realcomm’s conference, representatives from RealFoundations attended the event to learn, network, and present. During the event, RealFoundations hosted two dedicated sessions, “Trust By Design: Managing the Risk of GenAI Deployments” with Nate Fyie, Global Head of Modern Workplace Services, and “Suite to Home: Three Different Journeys from CRE to Residential and Their Challenges” with moderator Dominic Hollands, Lead Managing Consultant. RealFoundations also sponsored the PreCon: CIO Roundtable where Gregg Haverstick, Enterprise Managing Consultant, and Nate Fyie discussed navigating the evolving landscape of PropTech innovations, economic uncertainty, and escalating cybersecurity threats.
On the floor of the conference, the energy was electric. The team left the event with enthusiasm for this next chapter in the commercial real estate industry, driven by technology. Three areas stood out to us the most: Tour of Tampa – New Type of Urban Living, AI – Turning Vision into Action, and CRE – Technology for a Shifting Market. More on these areas below:
Tour of Tampa – New Type of Urban Living
The event kicked off with Innovation Tech Tours of the Water Street District in Tampa. This tour provided an overview of the project’s vision for a new type of urban living. The city of Tampa is on a mission to embrace the latest advancements and update the Water Street District in five key areas: sustainability, connectivity, wellness, walkability, and most importantly technology.
Tampa is creating an urban living ecosystem where residents can be within a 15-minute radius of work, wellness, entertainment, and recreation.
AI – Turning Vision into Action
At the forefront of this year’s conference was a discussion centered around AI and its future in real estate. It comes as no surprise to hear that AI is evolving at a rapid pace. However, it is surprising to learn that businesses are already at risk of falling behind if they haven’t started incorporating AI into their infrastructure yet. There is still a technology skill gap making this an obstacle for many interested. AI is only as good as the data it’s fed. Inconsistent data sources, unclean data, and data not properly stored in a database (i.e. Excel) can lead to unexpected and potentially frustrating results.
Businesses that want to get ahead of the technology curve need to get their data in order, including understanding the infrastructure and establishing data governance. To leverage AI effectively, identify the single source of truth for your information and establish clear data governance practices.
CRE – Technology for a Shifting Market
The CRE market is in a constant state of change and it became clear that the old ways of operating are no longer effective. Property owners and operators are facing the challenge of how to balance the need for advanced technology from building tenants with the cost investors are willing to accept.
Technology continues to rapidly evolve and change leading to an increase in tenant demand for owners and operators to update buildings. To meet these demands, industry professionals agreed that data is the key. Property owners are utilizing data in order to determine the priorities and outcomes.
Recap of Events
Along with the conference learnings and networking events, RealFoundations was pleased to see four clients receive Digie Awards this year:
- Tom Taddeo, EVP and CIO of Kimco Realty Corp won the Lifetime Achievement Award
- Susan Gerock, SVP, IT and CIO of Elme Communities, won the Julie Devine Digital Impact Award
- Phillips Edison & Company was awarded Best Use of AI in Commercial Real Estate
- Bridge Investment Group received Best Use of Automation in Retail
The Realcomm conference is always an exceptional event – with no shortage of valuable insights into the future of commercial real estate, driven by the latest technology. We can’t wait to return next year!
Connect with Us
To discuss our long-standing relationship with Realcomm and our perspectives on the content presented, feel free to connect with any of the RealFoundations’ members below:
