EXAMINING THE FEASIBILITY OF INDUSTRY 4.0 FOR THE REAL ESTATE SECTOR WITH A LENS OF VALUE AND JOB CREATION

A fourth industrial revolution Industry 4.0 is characterized by massive implementation of Cybernetics on the road to an end-to-end value chain with Industrial IoT and decentralized intelligence in manufacturing, in production, logistics and the industry, in service of human needs. Each individual branch of industry like real estate, health, transportation, trade, agriculture, and others have been targets of digital transformation. In the era of smart and digital development, companies are interested in solutions that allow their processes, machines, employees, and even the products and services themselves, to be integrated into a single integrated network for data collection, data analysis, the evaluation of company development, and performance improvement. Industry 4.0 did not pass and the real estate sector: land and individual real estate objects management, land administration, real estate market infrastructure, formed by banks, real estate, valuation, insurance organizations, and trustees. As digitalization disrupts society, concern is growing about how it is affecting issues such as jobs, education, value creation, management and security. This article discusses the major features of the four industrial revolutions, the opportunities and the challenges of the fourth industrial revolution through the prism of real estate industry.