has launched an innovation lab that will partner with universities around the world to research, develop and invest in technology that could be of relevance to the real assets industry.
Using Real Estate鈥檚 own data and third-party sources, RealAssetX will research and develop new technologies in sustainable technology, artificial intelligence (AI) and 鈥榙eep tech鈥� that can be incubated and eventually adopted by owners, operators and managers of real assets.
The platform will also establish strategic partnerships with venture capital firms to invest and deliver modern technologies for the industry. PGIM said it had already partnered with global real assets technology manager Taronga Ventures to enable third-party capital to invest in early and later-stage technology companies.
Raimondo Amabile, co-CEO and global CIO at PGIM Real Estate, said: 鈥淭he profound impact that the fast-moving technology wave is having on the real assets industry means that investment managers鈥� success will be defined by their ability to be tech-enhanced through every stage of the investment lifecycle.
鈥淏y partnering with leading universities and technology companies, RealAssetX is building an ecosystem to develop new technologies that don鈥檛 exist today 鈥� leveraging forward-thinking research and development to drive transformation within PGIM Real Estate and the broader real asset industry.鈥�
Cathy Marcus, co-CEO and global COO at PGIM Real Estate, said: 鈥淲e strongly believe that better technology can improve efficiency and create better investment performance.
鈥淭hrough RealAssetX, we are leveraging the depth and breadth of PGIM Real Estate鈥檚 53 years of data and research, alongside the insights and expertise of leading academics and venture partners, to identify and implement new technology that can improve business operations, augment asset management strategies at our properties and enhance investment decision-making on behalf of our clients.鈥�
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