We had the opportunity to catch up with Chris Loaring, the Head of Environment and Mapping at Landmark Information Group. Landmark is the UK’s leading provider of digital mapping, property data and related environmental risk information.
We discussed the businesses use of A.I, utilising its data to propel a ‘tech for good’ app, and the opportunities for PropTech.
Could you share with us how technology is being used by Landmark?
Post credit crunch the focus for our business has been to drive value for our customers, and one of the tools to achieve this is A.I. Landmark is exploring and deploying group wide A.I. use cases to help our customers be more successful.
What opportunities will this present for Landmark?
Landmark seeks to continue being market leader for a long time. Therefore, by innovating and utilising emerging technologies we are setting ourselves up for tomorrow, today.
We are aiming to use AI to innovate and build tools that will allow the transition from manual input reliance to models and algorithms. We will also look to design innovative concepts for new products and services that will streamline and improve the property transaction process.
‘Tech for Good’ is an important initiative for UKPA, how does this fit into Landmark’s strategy?
We have teamed up with the ‘Know your risk campaign’ to develop an app which lets individuals instantly assess the potential risk of flooding within 25m zone of given post code. Landmark comes into the picture by providing the data through by way of our ‘Know Your Flood Risk®’ report.
There is currently an estimated 5.2 million properties in England – which equates to one in every six properties – at risk of flooding. The campaign is on a mission to raise awareness of risk of flooding from all sources. It is one of the UK’s most recognised source of helping people discover the flood risk related to their current or future homes.
Why is it important for PropTech companies to get involved in the tech for good movement?
We believe that as the amount of data increases and becomes even more detailed, the balance of insight vs simplicity is key in using tech for good in this space. Taking in complex data, in all its details and simplifying it for the user.
Being the UK’s leading provider of digital mapping, property data and related environmental risk information since the inception in 1995Landmark has got extensive experience that could be shared with younger businesses. What advice would you give to upcoming businesses?
Simplicity and credibility is key. As the quantity and detail of data increases due to technology, you have to start thinking about getting the balance right between delivering more insight and keeping it simple. Start-ups in this space need to make sure they keep their offerings simple and services easy to use. When simplicity exists, you have a greater understanding of the work you do and can focus on demonstrating the value you bring to your customers.
Where data is concerned they also need to make sure they have credibility in the market so that customers can trust the data. To do this they need to bring relevant stakeholders and regulators on board.
What are the opportunities/disruptors that you see in PropTech?
The property industry is still very inefficient. There are still archaic systems or even the paper based workflows. This is a massive opportunity for tech companies that are exploring the emerging technologies such AI, Blockchain, VR and back office automation to address laborious transaction processes.
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