Innovations borne from adversity

It’s usually at this time each year, that I look ahead to what we have strategized for the New Year and reflect on what we’ve enjoyed, encountered or endured across the past 12 months and beyond. We have emerged from one of the most cataclysmic periods in modern history, with the pandemic a not-too-distant memory and its affects still linger. But when the world encounters calamities, let’s not prophesise doomsday, let’s use history as a guide to what could be the eve of a new era.

To steal the notion from Charles Dickens, let me walk you through a visualisation of calamities Past, Present and the opportunities in the Future. What I aim to illustrate is that through adversity, innovation is borne and 2025 looks bright.

Let’s start with the gravest period of the 1900s – the World Wars. From those darkest hours, the world evolved in the most rapid, short period. Penicillin and medication have changed not just pain management, but progressed healthcare and healing beyond measure. Bletchley Park’s code cracking led to the blueprint for computing. Engine advancement was the genesis of our current, frequent air travel, not to mention car advancement. And let’s not forget the origins of cosmetic surgery was rooted in helping maimed survivors of those wars and the ones to come.

Jumping to the mid-1970s recession, when inflation struck food prices, fuel and raw materials – the era of stagflation lasted several years. Yet under this immense pressure, computer sciences emerged. We welcomed the personal computer, floppy discs, and the Atari (home video games) was on every kid’s Santa wish list. By the 80s, consumer technology furthered with the introduction of the Walkman, disposable cameras, and compact discs.

Then there was the 1990s recession, which followed peak cash rates of c.18% in Australia. Yet this is the period where technology came into its own. The World Wide Web was created. Google and Amazon were born. MP3 players replaced the Walkman and the Palm Pilot was the grandfather of the smart phone. In short, the world began on its diet of data.

Though the noughties saw the fast and drastic boom and bust of the dotcom era, it gave rise to social media. Our data consumption grew even further. It was not deterred by the GFC. In fact, iPhones expediated our dependence on data. Our TVs also became smarter and our entertainment world expanded with streaming services such as Netflix.

And now we arrive almost at the Present day. The COVID era. While confined at home, our data diet extended beyond recreational use. We needed to work from home. We needed fast and reliable connection and communication with each other, when we couldn’t be in the same room. Audio-visual meetings were a mainstay. And what was once considered science fiction, has become a reality with Artificial Intelligence (AI) making its way into our work processes.

So, what does the future hold? What does this mean for the commercial property world?

My belief is that the appetite of data consumption, and the ability for ultra-high intensity data processing, will lead to a higher dependence on data centres. This touches every aspect of our built environment. Hospitals and other medical facilities will require the AI support to provide a prognosis faster and more effectively. Office workers will process information more effectively through AI and require reduced connectivity latency. Industrial facilities will optimise their supply chains and order fulfilment through AI and manufacturers will significantly increase productivity through connected robotics. Even the humble farm will benefit through crop monitoring, automated fertilisation and irrigation.

I make no secret of Centuria Capital Group 's recent investment in ResetData , because I am genuinely excited with the Liquid Immersion Cooling (LIC) technology it employs, to create edge data centres that are more sustainable, environmentally-friendly and lend themselves to faster data processing with a focus on AI inferencing.

So, as the symphony of cicadas around me heralds the start of the festive season, I leave you with this optimistic outlook. I believe the New Year beckons the dawn of a new era. Here’s to a happy and safe break.