potential of new technologies to disrupt housing policy · 2018-12-04 · potential of new...

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POTENTIAL OF NEW TECHNOLOGIES TO DISRUPT HOUSING POLICY Prof Chris Pettit City Futures Research Centre, UNSW Sydney

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Aim of the inquiry #AHURIconference


To examine disruptive technologies, investigating their potential for reshaping housing markets and reconfiguring housing policy.

3 Projects

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• Understanding the disruptive technology ecosystem in Australian urban and housing contexts: a roadmap

• Technological disruption in private housing markets: the case of Airbnb

• Matching markets in housing and housing assistance

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Methodology

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• Reviewed local and international literature

• Workshops with policy makers & practitioners

• Mapping of Airbnb

• Survey of Airbnb hosts

Disruption

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• Reviewed local and international literature

• Workshops with policy makers & practitioners

• Mapping of Airbnb

• Survey of Airbnb hosts

Disruption

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‘Disruptive technologies’ were defined by Christensen (1997) as innovations that disrupt or redefine performance trajectories and consistently cause the failure of an industry's leading players. Today, the terminology of ‘disruption’ is used more generally to describe situations where technology drives significant changes to existing practices, whether that of an industry, a market or a regulatory structure.

Disruption

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• We currently live in an era of Smart Cities.

• Smart Cities Plan – Commonwealth Government (2016)

• Smart City Global Estimate to be worth (US) $3.3 Trillion by 2025 (CISCO)

• IoT and Sensors – 34 billions sensors (2025)

Sharing (gig) economy

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• Enabled through online platforms and data

• Rapidly expanding through globalisation

• Resulting in the casualisation of workforce

• Challenging exist market forces

• Challenging regulation

Machine economy

Disruption landscape #AHURIconference


Big Data

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• 5Vs of Big data – Volume, Variety, Velocity, Value, Veracity

• Data that cannot be opened using Excel.

• Can be analysed to extract patterns of behaviour at both the macro and micro level

Mapping Tools

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• Geographical Information System (GIS) Applications

• Digital planning tools to assist policy-making

• Potential to increase collaboration and transparency in decision making

Blockchain

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• Secure distributed transaction ledger

• Operated using peer to peer communication protocol

Matching Markets

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• Are markets where agents seek to be paired with someone or something

• Digital platforms provide an opportunity for more efficient matching markets

• Airbnb is an example of a matching market

Key Finding 1

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The research identified 4 main fields of technological advancements likely to disrupt the housing sector:

• Matching markets

• Big data

• GIS mapping software

• Blockchain

Key Finding 2

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Technological change presents real opportunities for the housing sector including:

• More efficient allocation of housing stock

• More accurate and transparent property management systems

• Better informed planning and development processes

Key Finding 3

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Technological change presents new challenges for the housing sector including:

• Responding to and regulating disruptive technologies

• Protection of privacy of clients

• Ensure transparency of complex technological systems

• Cost and access risks associated with the commericalisation of technology systems

• Understanding the spill over effects – disruption in one part of the housing market could impact other parts of the sector

Key Finding 4

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In response to future technological disruptions government need:

• More agile and critical policy responses – allowing short term responses

• Strategies for implementing longer-term cultural change and system upgrades

• Adopt a technological change response ‘playbook’

Playbook – 10 key principles

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1. Undertake regular environmental scanning – new and emerging technologies

2. Ensure risk assessments are systematic, are best practice, identify both upside and downside of potential disruption

3. Consider co-production and co-design approaches in developing responses to disruption

4. Examine the potential for smart, performance-based (rather than prescriptive) regulation

5. Be particularly attentive to privacy and consumer protection

Playbook – 10 key principles

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6. Ensure continuous education and workforce training to ensure the organisation is equiped to deal with new disruptive technologies

7. Work towards developing an organisational culture that is open to technical innovation

8. Learn from other sectors outside the housing sector

9. Ensure the longer-term risks associated with government divesting itself of data assets and management systems are well assessed

10. Develop strategies to bring expertise from across government for joined-up approaches

Conclusions #AHURIconference


• In an era of smart cities technological disruption needs serious consideration by governments

• The are both upsides and downsides to technological disruption that need to be considered

• It is absolute critical government is well educated to manage and facilitate technological disruption

• Government should consider a ‘playbook’ to adopt to technology innovation and disruption.

potential of new technologies to disrupt housing policy · 2018-12-04 · potential of new...

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