Top 5 real estate tech articles of 2023

‍The carefully handpicked top real estate tech articles of 2023:

1. ICON To Develop Lunar Surface Construction System With $57.2 Million NASA Award (ICON)
2. ESG & Sustainability – What’s the Difference? (Urban Footprint)
3. Generative AI: Opportunities and Risks for Property Transactions. (Orbital Witness)
4. Decelerating Bulk Industrial Demand: Analyzing Figures and Key Markets (Compstak)
5. Your House Is Due for an Electrical Upgrade (Span)

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Article 1: ICON To Develop Lunar Surface Construction System With $57.2 Million NASA Award 

Summary:

Space-based construction systems for lunar exploration are being developed by ICON after securing a $60 million NASA contract.

Key Insights:

1. The contract supports sustainable lunar exploration, focuses on in-situ materials for construction, and aligns with NASA's Artemis programme.
2. This project will be crucial for long-term habitation on the moon due to ICON's Project Olympus aim to create vital lunar infrastructure, such as landing pads and habitats.
3. This marks a significant step in advancing construction on planetary bodies, using methods that can be implemented for both earthly and space-based challenges.
   

Why’s it so good:

ICON's contract propels humanity towards constructing on another planetary body, showcasing groundbreaking methods applicable to Earth and space, and ushering in a new era of space-based construction.

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Article 2: ESG & Sustainability – What’s the Difference?

‍Summary: 

UrbanFootprint unravels the (often confused) differences between ESG and sustainability, explaining why ESG takes centre stage in conscious business practices and investments.

‍Key Insights:

1. ESG metrics influence consumer trust, community engagement, governance, and employee satisfaction, enhancing overall company value for investors as a result.
2. Over 80% of global firms now report on sustainability, but many emphasise positive features, neglecting required transparency on negative effects and biodiversity considerations.
3. In just one year (2020-2021) investment into ESG funds doubled, foreshadowing the sector's anticipated journey to becoming a $30 trillion industry by 2030.

Why’s it so good: 

It provides clear and concise advice about the measurable benefits of prioritising ESG over sustainability alone.

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Article 3: Generative AI: Opportunities and Risks for Property Transactions

‍Summary:

Language understanding has only very recently met similar standards for human performance, with the release of ChatGPT in November 2022 paving the way for services that handle legal documents to pivot away from NLP technology, and instead towards using ChatGPT.

‍Key Insights:

1. GenAI is faster and more accurate than the average human. For example, when GPT-4 was tested against the bar exam scores, it significantly outperformed the average human range.
2. GenAI is flexible; like any software, it scales with demand in ways that humans don't.
3. The risks of GenAI include: sometimes it hallucinates, there is a potential for inaccuracies, and there is a risk it could use your client data.

‍Why’s it so good:

With its intricate breakdown of GenAI’s role within property transactions and due diligence, the article offers insights to better understand the pivotal nature of this technology in boosting real estate transactions and processes.

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‍Article 4: Decelerating Bulk Industrial Demand: Analyzing Figures and Key Markets 

‍Summary:

As 2023 draws to a close, Compstak analyses the slowdown in bulk industrial demand, influenced by supply chain improvements, stabilising consumer demand, and a construction pipeline decline.

‍Key Insights:

1. Bulk demand decreases with improved global supply chains.
2. Amazon claimed the top tenant spot in transactions exceeding 100,000 sq ft across major markets, reminding us all of its dominance in e-commerce.
3. Recent bulk transactions indicate a preference for modern structures boasting ceilings of 36 feet or higher, meeting the demand to maximise available space.

‍Why’s it so good:

It gives valuable understanding of key market influencers on bulk industrial demand, alongside excellent data visualisations.

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Article 5: Your House Is Due for an Electrical Upgrade

‍Summary:

The report explores home upgrades for solar panels, electric devices, smart panels, low-voltage appliances, and other alternatives to costly electrical upgrades.

‍Key Insights:

1. Upgrading solar panels and electric devices incurs costs for 48 million US homes.
2. The Inflation Reduction Act provides incentives, including a $4,000 rebate.
3. Smart panels, low-voltage appliances, and solutions like Span.IO Inc's offer alternatives.

‍Why’s it so good:

Navigating the wave of sustainable living and electric car enthusiasm, the article provides practical solutions like smart panels and low-voltage appliances, ensuring you're prepared for the inevitable day of costly electrical upgrades.

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