Real Estate as Maven
Midjourney / Antony Slumbers
Cohort 7 of the #GenerativeAIforRealEstatePeople course starts November the 8th. Visit antonyslumbers.com/course for details and to register.
Since 2015 I‘ve been talking about how ‘The Real Estate Industry is no longer about Real Estate’. In the sense that office occupancy, even back then (it’s not just a post Covid phenomena) was hovering around 40-50% and a similar figure stated that their offices failed to enable them to be productive. These statistics, from Leesman, were screaming from the rooftop that the office ‘Product’ needed an upgrade, and it wasn’t just about the real estate.
My talks at the time ended with two slides. One saying ‘The future of real estate is in creating places of inspiration’ and the other ‘The office is dead - long live the Imaginarium’.
This was soon to morph into years of espousing for #SpaceasaService - spaces that ‘however procured provide the spaces and services appropriate to the ‘job to be done’ of every individual, as and when they need it.’
Nearly a decade on, all of this needs an update. And that update is to move beyond thinking about ‘Space as a Service’ to thinking of ‘Real Estate as Maven’.
Within the real estate industry we have a requirement to divine the future. What matters technologically today matters less than what will matter ‘one development lifecycle’ ahead. Given that any significant project can easily take 3-10 years we have to consider how the world might be some way off.
Over the last half century that hasn’t been so hard, as technology has been moving fast (Moore’s Law will be 60 next year) but from a low base. Doubling tiny amounts of computational power doesn’t make that much difference. Today however we are doubling high levels of compute power, so each doubling is suddenly highly meaningful. In fact it is much more meaningful than this because, as Jensen Huang (CEO of Nvidia) stated recently, we are almost running at Moore’s Law Squared at the moment. The power of his companies chips (which are the foundational tool for AI) has increased 1000X in just the last 8 years. The amount of data we have to work with has grown 10X over the last decade, and the size of AI models has increased 10X every year for the last 10 years.
So, in a typical Moore’s Law decade we can expect to end with 100X the computational power that we started with. But over the next decade that might well be 1000X.
This is non-trivial.
Not much stays the same at these rates of change.
What we now need to do is decide what we believe won’t change, what will, and how to accommodate both.
From my own experience I am increasingly convinced that we are moving from a technological Battenberg Cake to an Eton Mess. In the former, ingredients, and characteristics, are neatly defined. This square is X, and that Y. In an Eton Mess all is mixed up. There is not X or Y, there is just Z.
As this relates to how we will work with AI and other advanced technologies, the point is that we are likely to become less Centaurs and more Cyborgs. Instead of us doing A and ‘the machines’ B, we will intertwine our capabilities and do things together.
However, and this feels paradoxical but is true, this means as technology develops exponentially we need to develop our own human skills exponentially. We both need to become ‘more human’ and more at home with working intimately with ‘the machines’.
Because there is an AI Creativity Challenge. Based on current research, AI does improve everyone’s creativity and ability to generate ideas but this comes at the cost of lower variation and novelty. AI makes us all smarter, but in the same way. AI also tends to lead many to be lazy, and unwittingly homogenous. The AI’s ideas or answers are more than ‘good enough’ so one does not need to expend too much cognitive energy. Unwittingly people are producing better ideas but losing their differentiation. So, in effect, becoming dumber.
What is both a necessity, and a great opportunity, is to develop new thinking skills and behaviours whereby we can leverage AI for truly novel creativity. We need to prioritise critical thinking and synthesis skills.
Which also means we have a need for environments that not only help us foster distinct ideas but also actively cultivate our human cognitive abilities. We need to evolve our environments, our education and our working practices to complement AI, not become slaves to it.
Which is the genesis of the "Real Estate as Maven" Concept.
It is ‘an innovative approach to real estate that transforms physical spaces into dynamic, intelligent ecosystems designed to actively facilitate human and organisational success. It integrates cutting-edge technology, adaptive physical environments, and human-centred services to deliver measurable outcomes in productivity, wellbeing, innovation, and connectivity.’
It involves moving beyond passive space provision to active facilitation of human potential. It provides a vision for how real estate can evolve to meet the complex needs of a rapidly changing world, where the lines between physical and digital, work and life, are increasingly blurred.
For instance: "Imagine a product design team working in a Maven space. As they brainstorm, AI systems analyse their conversations and sketches in real-time, providing relevant information and suggestions. However, unlike traditional AI assistants, the Maven's systems are designed to highlight divergent thinking. When it detects that team members are converging on similar ideas, it might introduce unexpected stimuli - perhaps changing the room's lighting to mimic a different environment, or displaying images of nature that are tangentially related to the problem at hand. These subtle interventions are designed to nudge human creativity in new directions, while AI continues to support with data and analysis. The result is a blend of AI-enhanced efficiency and human-driven novelty.
‘Real Estate as Maven’ has 13 core characteristics:
Active Facilitation: Unlike traditional passive real estate, it plays a proactive role in enabling the success of its occupants. It anticipates needs, suggests connections, and provides resources.
Outcome-Focused Design: Every aspect of the space is designed with specific, measurable outcomes in mind, such as enhanced productivity, improved wellbeing, or increased innovation.
Adaptive Environments: Physical spaces are highly flexible and can rapidly reconfigure to meet changing needs and support different modes of work or interaction.
Technology Integration: Cutting-edge technology is seamlessly embedded throughout the space, enhancing capabilities and experiences rather than being a separate component.
Human-Centred Services: A suite of services focused on supporting human needs and potential, from wellness programs to skill development opportunities.
Connectivity Catalyst: The space actively fosters connections between people, ideas, and resources, both within and beyond its physical boundaries.
Continuous Evolution: Built-in systems for gathering feedback and data analytics enable the space to learn and adapt over time, staying ahead of user needs.
Holistic Approach: Considers the whole person and the entire organisational ecosystem, not just work-related activities.
Sustainability Integration: Incorporates sustainable practices and technologies as a core part of its design and operation, not as an afterthought.
Experience Curation: Actively curates experiences (e.g., events, collaborations, learning opportunities) that add value for occupants.
Boundary Blurring: Blends traditionally separate realms such as work, learning, wellness, and social interaction.
Community Building: Promotes a sense of community and shared purpose among its occupants, whether within a single organisation or across multiple entities.
Human Potential Enhancement: Actively works to enhance human cognitive and creative capabilities through environmental design, technological integration, and tailored services.
And these core characteristics might manifest themselves in things like this:
Human-AI Collaboration Hubs:
Spaces designed for humans to work alongside AI systems, with intuitive interfaces for human-AI interaction
Areas equipped with advanced visualisation tools for complex data interpretation and decision-making
"AI sandboxes" where people can experiment with and develop new AI applications
Creativity and Ideation Spaces:
Environments designed to stimulate creative thinking and problem-solving
Tools and technologies that enhance brainstorming and idea development
Spaces that can capture and digitise spontaneous ideas for later refinement
Skill Development and Learning Centres:
Flexible spaces for continuous learning and skill development
Virtual and augmented reality training facilities
Areas for hands-on experimentation and prototyping
Wellness and Human Performance Optimisation:
Spaces and services focused on physical and mental wellbeing
Advanced diagnostics and personalised health optimisation programs
Stress reduction and cognitive enhancement facilities
Cultural and Artistic Expression Zones:
Areas dedicated to showcasing and creating art, music, and other forms of human expression
Spaces that celebrate cultural diversity and facilitate cross-cultural understanding
Facilities for performances and creative collaborations
Community Building and Social Impact Centres:
Spaces designed to foster a sense of community and shared purpose
Facilities for developing and implementing social impact initiatives
Areas that encourage intergenerational interaction and knowledge transfer
Now some of this might sound similar to what you’ve already seen or heard about but the distinctiveness of the ‘Real Estate as Maven’ concept lies in:
The depth and sophistication of implementation
The integration and interconnectedness of these elements
The shift from passive provision to active facilitation
The focus on measurable outcomes beyond just work productivity
The emphasis on continuous, data-driven evolution
In a later essay we’ll elaborate on this but the central point is whilst individual elements might not be entirely new, the combination of all these characteristics, implemented at a high level and working together as an integrated system, is what makes the "Real Estate as Maven" concept distinctive. It represents a paradigm shift from real estate as a product to real estate as a service and facilitator of success.
The ultimate goal of all of this is to enhance uniquely human qualities and capabilities. These ‘Maven’ spaces will be where the best companies, with the smartest employees, will want to be. They will be the antidote to the cognitive laziness that is likely to be a major feature of business a decade hence. They will be places that enable people to be happy, healthy, productive, and connected.
And this is a transformational opportunity for the real estate industry. Where the real estate provider becomes an integral part of their tenants' success strategies, moving far beyond the traditional landlord-tenant relationship. This model could create spaces that are not just desirable to come to, but essential for personal and professional thriving in the modern world.
That is what one would be selling and that is where the magnetism will lie. Is it the whole market - of course not. But is it the ‘best’ market to be in, undoubtedly yes. Real estate just as real estate has no future. It needs to be more. It can be more. And people will love it.
‘Real Estate as Maven’ - who’d have thought it even possible?