Guessing is not a strategy: How to build decision velocity with AI and real-time data
June 10, 2026 | Live Webinar
Late to the Digitization Party
| “Going digital” has been the transformation goal in many sectors for some time now. But there is one industry that has just recently jumped on the digital bandwagon. That industry is real estate. An article in May PM Network® examines this newly opened playing field. Both startups and established companies are launching projects to bring technology into the realm of selling and renting property, homes and offices. That technology runs the spectrum, from use of big data to more accurately assess a home’s value, to virtual reality platforms that will enable prospective buyers to view offerings without actually being there, to crowdfunding that will allow people to invest in international real estate. The numbers show the growth of “proptech”: Investment in this field rose from US$1.8 billion in 2015 to US$9.6 billion in 2018. And 97 percent of real estate executives told KPMG that they expected digital and technological innovation to significantly impact their businesses. Bringing tech into real estate is a little different than bringing tech into other industries. The resistance to change and lack of awareness of emerging technologies makes it difficult. And testing products with minimum viable products generally doesn’t work because of the high value of transactions, the article reports. Project managers might consider testing products in simulated transactions. Software dealing with mortgages have similar considerations. In this part of the real estate industry, automated helpers for approval decisions have to take into account variables on loan applicants’ income that might affect these decisions. Proptech project managers walk a fine line between designing their products to accommodate variables and keeping the cost down to prospective customers. But that might be a line worth walking because of the growth opportunities in this late-to-the-digitization party sector of the world economy. PMI members can turn to PM Network every month for trends news that you can use in your career. |
Digging Deep to Transform
| Digital disruption is hitting even the most old-line industries. In the current PM Network®, we explore how IT projects are improving mining. A report shows that four out of five mining and metals organizations expect to spend more on digital technologies over the next three years. More than half point to robotics and automation as the top spending areas in mine operations. And 56 percent are considering merging their IT and operational technology groups in the next 12 months. A big challenge is gaining the support of workers, who have to learn how to pilot remote-control machines, and supervisors afraid their decision-making responsibilities will be taken away (they won’t be). Experts say planning this type of project must be done carefully and without shortcuts, or the projects might lack strategic value and won’t harness the full power of the technology. Project managers must see these initiatives as transformational. Startups and research centers are involved in mining-sector projects, launching pilots that include electric autonomous vehicles that are continuously charged by a modular and movable electrical and induction system. The vehicles, without the weight of batteries, are very efficient. Look for articles covering the rapidly changing world of projects and project managers in every issue of PM Network. Are you involved in a digital transformation project in an old-line sector? Tell us about it in the comments. |