The impact of Covid has created an unprecedented need to embrace technology and has in many ways accelerated the Fourth Industrial Revolution. The worldwide lockdown transformed us into a new reality faced with online classrooms and virtual board meetings. Regardless of age or demographic, we have had to learn and grow.

The Fourth Industrial Revolution is unprecedented in terms of its scale, scope and complexity. It is the convergence of a variety of emerging technologies, including AI, robotics, the internet of things (IoT), 3D printing, autonomous vehicles (drones and self-driving cars), quantum computing more.

This convergence of technologies combined with the new Covid world is blurring the lines between the digital and the physical world. It is fundamentally affecting the way we work, live, think and interact with each other.

During hard lockdown, body corporates joined the rest of the world in terms of AGM’s. Although the legality has come under question, virtual AGM’s make forming a quorum easier and have also and managing disruptions easier.

The Fourth Industrial Revolution also saw the onset of digital community scheme management platforms and software, mobile applications assisting in managing security, claims, finances communication and more. This has allowed for the integration and collaboration of owners, tenants, managing agents, security companies and more.

There is still opportunity to be found in terms of using technology to improve body corporate management. One of the challenges in exploring the opportunity is choosing a partner who understands the real estate industry as much as technology.