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Top1. Introduction
Since the 18th century, a remarkable transformation has taken place under industrialization. At that time introduction of machinery was powered by the local generation of steam. Under industrial revolution 1.0, there were certain limitations on human manual effort. The next paradigm in the 19th-century introduction of electricity took place that allowed a broad distribution of power from point of the central facility. Under industry 2.0 machinery became less bulky and ran faster due to the introduction of electricity. With the development of electricity, the 20th century brought powered assembly lines. Manufacturing became more automated and made deep focus on performance under industry 3.0. The manufacturing process was active at its optimum level and productivity got improved. More and more involvement of safer machinery, ergonomic and flexible design incorporated smoothly (Hughes et al. (2012). To make a comparison the term industry 4.0 had been proposed very recently. It includes manufacturing with the digital revolution, artificial intelligence, the internet of things or IoT, and machine learning. The purpose of these smart technologies is to allow manufacturers about meeting ever-changing demand more effectively by using responsive machinery. This idea has gone beyond the design of single machines. Thus it brings a global revolution in manufacturing. Man-machine cooperation, big data, real-time communication, remote sensing monitoring and control, autonomous equipment all have been considered as non –negligible assets under industry 4.0 (Laryea et al., 2010; Samuel et al., 2010). With innovative technologies, production gets improved and the cost of production has been reduced. The fourth industrial revolution goes beyond the concept, i.e. digital manufacturing, and interconnectivity. In this era of industry 4.0, business organizations have digitized their physical assets and made integration into the digital ecosystem. The promise of industry 4.0 is an increase in productivity by the integration of digital systems of production. This is created within an intelligent environment with data analysis. Real estate 4.0 has no exception to adopting innovative technology for enhancement of productivity under the space ‘industrial revolution’. Safety conditions are very much essential for human-machine collaboration in the real estate sector. Recently a development takes place on digitally connected workers and collaborative robotics platforms with help of real estate 4.0. Usage of advanced manufacturing processes leads to new risks, hazards, accidents (Muhammad et al., 2015). Risk analysis with the help of AI-empowered technology is needed to take corrective actions and risk control. The real estate sector is unorganized and it employs a large workforce, so health and safety issues are a prime concern in this sector. To remove difficulties and dangerous tasks, risk analysis methods are widely applicable. Occupational Health and Safety Administration (OSHA) is playing a pivotal role in this juncture. Real-time thermal cameras can detect heat sources, radiation sensors. Air quality analyzers provide information about the working environment. Virtual reality or VR can help workers to be trained in a simulated environment by which they can deal with critical situations (Phil et al., 2015; Ed Ferrett et al., 2015). Apart from these online databases, 4D Computer-Aided Design (4D CAD), Building Information Modelling (BIM), Geographical Information Systems (GIS), and sensing or warning technologies are used in a broader way to improve the health and safety performance of companies under real estate 4.0.