Blog | Antony Slumbers and the trillion dollar hashtag: #SpaceAsAService
Antony Slumbers is an experienced Digital Strategist & Product Leader in the #PropTech space, recognized as an industry ‘Influencer’. On Tuesday 10 December the NSI inspiration session took place, and Antony was there to talk about #SpaceAsAService and why it is the trillion dollar hashtag.
With SpaceAsAService, we mean offering space that provides services that make everyone in that designated space as efficient, effective and productive as possible. The incentive for this is primarily top-down, considering it’s the people that oversee, manage or own a particular building that want to increase the output of the people working in it.
We have a huge increase in data, a huge increase in computational power and therefore a huge advance in leveraging algorithms for deep learning. This Trinity allows for incredible speed in calculations and “if this, then that” predictions. The skill of the future is going to be judgement, because computers will present us with many different options – for example how to develop a site – but it is up to us to discern the better and most fitting one.
Machines will have a higher analytical capability than we do. Predictable work is going to be automated. The missing thing with computers however, is creation and empathy. Computers cannot create and feel – humans can. The future with its pressing challenges will demand from us to become better at those qualities, to be better humans in a sense. For that we will need spaces to live and work that make us these better humans. Technology will help us with that, as it enables a different use of real-estate.
The course that the world is taking means that the real-estate industry will no longer be about real-estate. People do not want to accumulate more stuff, they want to move from owning to experiencing. Why buy a car when there are companies such as Über and Lime Scooters? Why buy so many clothes when there are companies that enable you to have a wardrobe-subscription? We don’t need to physically own a product anymore, we just want to have access to it whenever we need it.
So what does success in this ‘new world’ that the industry is shifting towards require?
Machine learning will lead to monopolies in real-estate. Who has the data, gets to learn the most, which means they get more data and get to learn even more. Considering that in the new reality we are moving towards real-estate will be all about user experience, the parties with the most data will have an immense advantage towards competitors. That someone will get incredible insights and will be in a position to make predictions and offer services based upon this knowledge. More data = ability to offer tailored services = better user experience = more clients.
So, if you decide to go down the #SpaceAsAService road, which you should, you ought to ask yourself the question: “Are you a chicken or a pig in the bacon & egg sandwich scenario?” The chicken is involved here, but the pig is committed. Both are good, but #SpaceAsAService requires you to turn your product (real-estate) into a service, and for this you need to be a pig. That means being fully committed.
Another point, is flexibility. Your buildings have to able to be repositioned easily because you simply don’t know how they are going to be used in the future. Take for example, shopping. It’s supposed to be a leisure activity, something that provides pleasure –people buy non-fun stuff online. So the future of retail is really the experience that the potential client has when going to your store.
Antony then continues and shares 8 other key requirements for success with #SpaceAsAService. Interested in hearing all of Antony’s insights? Then invite him as a speaker and follow him on social media.
We sure did enjoy his keynote!