CREtech London 2024 – Defining moments and insightful takeaways

CREtech London 2024 recently concluded, and attendees left this year’s showcase buzzing with fresh insights and inspiration. Emma Callahan, Technology USA, was amongst those attending and a couple of weeks after the event, has shared her key takeaways. Emma delves into the ground-breaking discussions and pivotal moments that marked her experience at this year’s conference, with a key focus on AI and sustainability related topics.  

A distinctive feature of the conference revolved around the round table discussions, where I had the privilege of participating in a conversation moderated by a venture capitalist, alongside numerous startup founders seeking insights. One common thread was about profitability as businesses scale and how to present this to investors when seeking funding. Showcasing healthy margins, both operating and gross, in a clear manner is crucial. I also recognised the importance of tailoring your pitch to the audience and thoroughly researching the firm you’re presenting to. Additionally, ensuring that any financial models, developed by third-party consultants, are not only sustainable but also comprehensible to all stakeholders involved. 

Ed Parson’s from Google delivered a particularly intriguing discussion on Data, AI and the Built Environment. He highlighted the rapid evolution of our world and the struggle to keep pace with its changes. As data needs become increasingly sophisticated, there is a shift from passive to interactive data usage. Parsons emphasised the necessity of developing applications that facilitate this transition, transforming passive data and technology into interactive models. He also clarified a common misconception: while many equate AI with machine learning, they are distinct. Most market tools are based on machine learning, which involves pattern recognition, whereas true AI systems possess cognitive abilities and can perform tasks requiring human intelligence. The development of true AI technology holds the potential to revolutionise infrastructure and civilisation as a whole.  

Another compelling discussion centred on decarbonisation and the dangers of tunnel vision. Stakeholders from Landsec, Grosvenor, Vornado Realty Trust, Demand Logic, and Bywater emphasised that sustainability initiatives must originate from the top and be integral to organisational strategy. However, the focus often falls on modifying existing structures or introducing new materials, which may or may not always be environmentally optimal. The role of virgin materials in the net-zero conversation is significant, and while the industry shows greater openness to sustainable solutions, some companies produce solutions that are not genuinely beneficial and may even contribute to greenwashing.  

On the subject of sustainability, discussions highlighted innovative solutions like Phononic, a game-changer in HVAC technology. Phononic’s solid-state cooling, refrigeration, and HVAC systems use a water mixture with naturally available CO2, achieving a Global Warming Potential (GWP) of just 1 or less, the lowest in the industry. Their solid-state design offers an exciting new method to reduce greenhouse gas emissions while meeting market demands.  

The event concluded with a captivating fireside chat featuring Faisal Butt the founder of Pi Labs. His journey, from experiencing the dot-com boom in California to launching Europe’s pioneering Proptech-focused VC, proved inspiring. Despite initial rejections, Faisal and his team transformed Pi Labs into a prominent player in European VC, boasting over 80 investments and 14 successful exists. Their success is attributed to building a diverse team, fostering lively debates, and avoiding “groupthink”. As an entrepreneur-led VC, they empathise with founders and provide solutions based on their own experiences. Their focus, discipline, and adaptability have been instrumental, positioning Pi Labs to continue making impactful investments and tackling complex challenges.  

As the head of the North American division at Beaumont Bailey, it was fascinating to speak with global companies focused on sustainability and expanding into the United States. Overall, CREtech London was incredibly insightful and I enjoyed every minute of it! 

If you would like to discuss any of the topics raised in this piece or if you need support with your leadership resourcing strategy, please get in touch with Emma Callahan on emma.callahan@beaumontbailey.com.