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Transforming corporate real estate for the Fourth Industrial Revolution

Author

Listed:
  • Sanquist, Nancy Johnson
  • Karpook, David

    (Planon Corporation, USA)

  • Guelen, Fred

Abstract

It is the beginning of a new era – one where technological innovation is transforming the way we live and work at exponential speed and showing no signs of slowing down. The World Economic Forum has labelled this as the Fourth Industrial Revolution and has identified 12 technologies that have reached a maturity (and cost) level that as they are being deployed, are changing the world as we know it. In order to embrace these technological advances in a sustainable and socially ethical way, organisations all over the world have embraced the United Nation’s 17 Sustainable Development Goals (SDGs). From a corporate real estate (CRE) and facility management (FM) perspective, the SDGs can be used as a guide to ensure that this technological revolution is managed in a way that allows the built (and unbuilt) environment to grow and evolve in a way that is sustainable and benefits all aspects of society for years to come. In order to successfully shift into the Fourth Industrial Revolution, it is also important for the CRE and FM world to look back and learn from the changes that were brought about by previous industrial revolution eras. This will help the CRE and FM industry proactively identify opportunities to develop new skillsets and work together to carve out a path that is adaptable, ethical, and relevant in the face of the Fourth Industrial Revolution. This paper was written for businesses, governments, higher educational institutions and individuals to be able to understand these new concepts and be aware of the challenges brought about by the adoption of these new technologies and SDGs and the principles which can be followed during this transformative era.

Suggested Citation

  • Sanquist, Nancy Johnson & Karpook, David & Guelen, Fred, 2018. "Transforming corporate real estate for the Fourth Industrial Revolution," Corporate Real Estate Journal, Henry Stewart Publications, vol. 8(2), pages 165-179, December.
    • Handle: RePEc:aza:crej00:y:2018:v:8:i:2:p:165-179
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    More about this item

    Keywords

    technology; systems of systems; new ways of working; social responsibility; corporate real estate (CRE); facility management (FM); Fourth Industrial Revolution; sustainable development goals (SDGs);
    All these keywords.

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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