Smart technology is improving all the time, incorporating machine learning and artificial intelligence to handle more and more complex tasks. Now more than ever, all commercial buildings have to get Smart out of necessity – it is no longer a luxury. Particularly, there are 5 ways that CRE buildings continue to advance and change the industry.
5 Ways Technology is Making Buildings Smarter
Leveraging technology to a company’s advantage has always been the edge that larger brokerages have had over smaller players. Today technology bridges many gaps in capabilities between small firms and multinationals.
Costs continue to decrease for tech tools that improve the speed, efficiency, and accuracy of everything from building maintenance to agent retention. There are 5 ways that technology, when applied to practically any sector of the commercial real estate industry, is being used to make buildings Smarter:
#1: Automated Property Management
One property management company utilizing technology in multifamily reported a study that showed that nearly 70% of office renters do not know the names of or ever interact with their property managers. Companies like HqO are helping property managers and building owners provide better maintenance and customer service using automated building systems.
#2: Immersive 3-D Technology
3-D technology is advancing in ways that are eliminating the costs for expensive architects and building designers or provide those same experts the tools to slash their costs. 3-D is fast taking over CRE in multiple forms from holograms providing immersive tours to offering clients 3-D renderings of future developments that they can “walk” in and “feel” before construction begins.
#3: Sensor Data Collection
Sensor technology has taken off for several years in manufacturing and warehousing distribution. Now that same technology is completely changing consumer outreach for retailers, office owners, and those in multifamily. In the face of the exploding IoT, sensors will continue to get Smarter and capture more data from environmental metrics like temperature and humidity to biometrics and health and wellness.
#4: The IoB Takes Over CRE
DisruptCRE coins it as the “Internet of Buildings” which is the universe of Smart tools being used to monitor, track, and analyze data generated by buildings. This technology is advancing in every sector. It bridges the gap between basic automation and true building learning to create Smart buildings.
Current technology is far along with building technology; it is so advanced that some buildings can self-diagnose problems and repair them without human intervention. True AI takes that technology a step further enabling a building to “learn” functions and proactively take actions based on past experience and algorithms.
#5: Integration Tools
One area that has been largely neglected is the integration of all of these tools. Google and voice automation companies have been working to create their own completely integrative Smart building systems. Most Smart building tools are limited to one manufacturer so they can’t “talk” to all devices, greatly limiting the technology’s ability.
New platforms and CRE tech companies are working to provide tools for easy integration of all of these Smart features. For building owners and landlords of a small number of units, it can help go beyond controlling HVAC and security cameras to monitoring entry with fingerprints or Smartphones and operating elevators and managing property security in real-time with AI technology.