In this Deconstructed podcast episode, we speak with James Scott, the lead researcher at MIT Real Estate Innovation Lab. MIT REIL is a research and development laboratory that measures and assesses the financial and economic performance of innovation in real estate, design, and planning.
James sits down with us to share his expertise on how Covid-19 has opened people’s eyes up to real estate technology and what its adoption over the past year looks like in practice. He also tells us his story of how he joined MIT Real Estate Innovation Lab and talks us through the ins and outs of the company.
The Digital Twin and the Future
One example of adoption James gives is the digital twin, a project that the MIT REIL is working on. A digital twin is the digital interpretation of a physical asset, process, or system. This digital twin enables predictive modeling to deliver proactive modifications for assets. This innovative process can provide greater strategic value for the real estate industry.
James wraps up the conversation by discussing the future of real estate, stating that he believes there will be some type of hybrid or flexible office space that will use real estate technologies.
Learn more about MIT Real Estate Innovation Lab and the company’s projects here.