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Interview underrated revolution is the emergence of a world full of sensors , which can pick up things like location , temperature , and humidity .
“ This mass of information can be difficult to translate into decisions , but when enabled by AI , more efficiencies will be unlocked and perhaps more surprisingly , we will come to conclusions that surprise us . For example , we ’ re starting to include unusual locations that the data reveals as strategically advantageous positions for tenants .” Devin : “ As AI and machine learning becomes more accessible , we ’ re seeing the increasingly significant impact it has on the speed at which operators can intake data , process it , and apply insights , whether it ’ s weather patterns , port congestions , manufacturing delays , or component pricing .
“ Combining such speed-to-insight with a paradigm shift to increasing resiliency and reducing carbon impact , tenant decisions are changing . We aim to stay ahead by applying machine learning for predictive analysis ; we never apply broad strokes to decision making , but we will continue to refine AI tools to uncover insights and ensure our strategy meets both current and future demand .”
How can teams in Europe and the US learn from one another ?
Dan : “ Our primary focus is to be a partner to our tenants , especially those with global supply chain challenges . We rely on our strength as a global platform with a local presence to build a reputation for reliability , so our teams in Europe and the US share a deep knowledge and understanding of tenants .
“ Taking a higher-level view , as a technological leader and single market , the US is a perfect ground for innovation , meaning emerging trends can be trialed and later replicated in Europe . On the other hand , Europe is at the forefront of ESG standards , which can then be implemented in the US .” Devin : “ Although Dan is right , our shared learning is not limited to the real estate sector or across geographies . Brookfield ’ s businesses all work together ; we engage in active discussions with the transportation and ports teams , for instance , or collaborate with someone from the renewables division when looking at new sustainability initiatives . A culture of knowledge sharing and connecting teams across the globe leads to unique investment opportunities and outperformance through value creation .”
What are your predictions on what 2024 will bring for supply chain functions ?
Dan : “ We expect three core trends in 2024 : digitalization , deglobalization , and decarbonization . As organizations strive to build greater resiliency , fierce competition is likely to mount in Europe for logistics infrastructure that is local , fits with a green strategy , and drives efficiency through technology . Our aim in Europe is to continue to deliver state-of-the-art assets in response to the increasing demand for local warehousing and strengthen our reputation as a reliable supply chain partner .” Devin : “ The future of logistics will be altered by digitalization trends ; while goods will always come from warehouses , how they get there , how long they are stored , and how they are delivered will change dramatically with AI and data analytics . I am confident in our ability to meet evolving challenges , not only because of disciplined decisions but because we always have an eye on future-proofing the business .”
Is there anything you would like to add ?
Devin : “ Innovation is central to our strategic planning , and we believe that logistics will be transformed globally over the next cycle , tied to an array of advances like AI , robotics , drones , and autonomous vehicles .
“ One of the most critical mistakes we see as real estate owners is when supply chain professionals don ’ t have an active dialogue with real estate professionals . Only when these two groups effectively work together during decision making , can the organization be well organized , efficient , and poised for success .” ■ scw-mag . com 11