News roundup: Architects are adding AI to their digital arsenal, and other headlines

For PropertyGuru’s real estate news roundup, architects embrace and integrate AI for a more connected and outcome-based approach to design. In other stories, the head and deputy head overseeing Indonesia’s new capital have unexpectedly resigned, raising questions about the project. And Gartner survey says CEOs are most focused on business growth and are cautious about using AI.

How architects add AI to their digital toolbox

At the turn of the century, architects embraced 3D parametric modeling through building information modeling (BIM), and in the last 10 years connected BIM to the cloud to improve coordination and productivity. But BIM struggles to unify data and workflows across the entire plan, design, build and operate lifecycle. Integrating AI—along with granular data and automation—will empower the next generation of architects with a more connected and outcome-based approach to design, enabling them to focus on outcomes like building performance or sustainability from the very beginning of a project.

Today, the creativity of architects is being tested by the need to maximize building density and use of space without negatively impacting people’s quality of life or the environment. This is precisely where AI and outcome-based design come into play, enabling architects to arrive at solutions faster and more efficiently, and giving them the time to focus on creative solutions to the biggest challenges we face.

For these reasons, trust and optimism for AI today is high, according to the ArchDaily report. European and US architecture firms shared an openness to AI that is rooted in the belief that it can help expand and reimagine their value propositions.

Head, deputy head of Indonesia’s new capital city authority resign, minister says

The head and deputy head of the body overseeing Indonesia’s planned new capital have unexpectedly resigned, raising questions about the USD32 billion project.

With Jakarta, the current capital of 10 million, overcrowded and plagued by massive traffic jams as well as chronic flooding and sinking land, Indonesia is building a new capital, called Nusantara, in the jungles of East Kalimantan on Borneo – an island shared with Malaysia.

“The President has appointed the public works and housing minister and deputy agrarian minister as the acting head and deputy head,” State Secretariat Minister Pratikno said on 3rd June. He said the appointments would speed up construction and the resignations had long been discussed.

CNA reports that on his official Instagram account, Indonesia’s President Joko Widodo on Monday assured the public that the project’s development would continue.

“The development of new capital will be continued in line with the shared vision that has been established,” he said.

CEOs cautious about AI but focused on growth in 2024: Gartner survey

Growth has emerged as the foremost business priority for 62 percent of CEOs in 2024, as per a new survey conducted by Gartner. This figure marks the highest level of prioritisation for growth since 2014, with a notable rise from the previous year’s 49 percent of CEOs who deemed growth as their top priority.

“Along with the increased focus on growth, the survey showed a relatively weak position for cost management, suggesting that most CEOs and senior business executives believe the most challenging economic times are past,” stated David Furlonger, Distinguished VP Analyst and Gartner Fellow, in DataCenterNews Asia. “We have entered a phase of rising business leader confidence and business strategy re-launches.”

The 2024 Gartner CEO and Senior Business Executive Survey, conducted from July through December 2023, included 416 CEOs and other senior business executives. These participants represented a variety of industries, revenue brackets, and company sizes across North America, Europe, Asia/Pacific, Latin America, the Middle East, and South Africa. The survey results indicated that CEOs are currently adopting a growth mindset in their business environments.

AI has been identified as a key focus area in business transformations, with 34 percent of CEOs marking it as the top theme following digital transformation. Operations efficiency followed at 9 percent. Comments from Don Scheibenreif, Distinguished VP Analyst at Gartner, highlighted the prominence of generative AI (GenAI) in displacing digital as the primary buzzword among CEOs. “The majority of CEOs surveyed believe that the AI breakthroughs of 2023 justified the tech sector hype. They are relying on CIOs, CTOs, or CDOs to unlock the value of GenAI, showing that this is a team effort when approaching these projects and not just a top-down experience,” he said.

The Property Report editors wrote this article. For more information, email: [email protected].