Technological advances prove beneficial for industry

Technological advances prove beneficial for industry

As technology advances at a startling rate, job automation and augmentation is set to become ubiquitous in industries across Australia, including real estate.

The Technology Impacts on the Australian Workforce report is a result of a collaboration between artificial-intelligence work analytics platform Faethm and the Australian Computer Society – the nation’s largest professional body representing the information technology sector.

According to the report, 2.7 million Australian jobs are at risk of automation over the next 15 years. However, Faethm Chief Data Scientist Richard George said more roles in real estate were subject to improvement via technology rather than replacement.

“Faethm looked at Western Australian workers from the real estate services industry in the Australian Census and found that of the 16,700 in the current workforce, over the next 10 years, 14.8 per cent are automatable and 25.6 per cent are augmentable – working with technology to enhance their work,” he said.

All up, about 36,000 people are at risk of automation within the next 15 years.

Real estate agents were found to be the most augmentable role, with the report highlighting a potential 46,000 people across Australia who can benefit from implementing technology over the period.

Many agencies, such as Nicheliving, are already well-versed in using technology to its advantage.

Nicheliving Project Sales Team Leader Ollie Salimi said through the virtual display village, customers could take a tour through any display home on offer, and they could read about the surrounding amenities before using the online booking system to schedule a virtual or face-to-face meeting – all from the comfort of their couch.

“We further use digitalisation to the customers benefit by making all of our property videos available on our YouTube channel, and we have also implemented an online chat function to our website, so we can interact immediately with any potential buyers,” he said.

Mr Salimi said using the latest tech puts the buyer at the forefront, allowing them to coordinate around their schedules and digitally get a feel for the property, its location and the lifestyle it offered.

As demand is increasingly tech-driven, Mr Salimi said Nicheliving aimed to continuously better the alignment between customer and company, allowing for a more seamless and streamlined service.

Ultimately, the technological impact report was conducted to encourage governments to consider this future economy, and ensure workers are well-prepared for the transition to a technological workforce.

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