AFR: Property sector warned to prepare for big tech disruption


Australia’s property sector must embrace the data smarts deployed by global technology giants and prepare to fight them off as they advance into their territory, investors and chief executives have warned.

The Australian Financial Review, Paul Smith, 2 December

Venture capital investor Jonathan Hannam warned that Facebook and Microsoft know far more than commercial property operators about how workers are operating, and could disrupt them.

Mr Hannam’s firm Taronga Ventures has a dedicated property technology fund – the RealTech Ventures Fund – and he described attending an event where a former local head of Facebook had spoken with a property CEO about the customer data they were tracking, and had left them in the shade.

He told The Australian Financial Review Property Summit that workplace software makers such as Microsoft were tracking workers and knew which people and teams were collaborating on projects, and where they were working.

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