Artificial Intelligence Opportunities in Real Estate
Published on December 5, 2018 by Kaylee
Real Estate, along with every other industry, has advanced from using Artificial Intelligence to improve and support healthier lifestyles for people. In commercial real estate, health-focused principles are more than just trends. They are the beginning of the industry’s promising future. From 2008 to 2017, the number of tech-oriented real estate startups have exploded from a mere 176 to over 1,200 companies. The areas in Real Estate that can really use artificial intelligence to offer healthy solutions are safety, data-driven comfort, and sustainability.
Artificial intelligence in the safety sector of commercial real estate has made a big impact. It provides, for example, better security for those that occupy these spaces. AI and machine learning use anything from voice commands to facial recognition to improve accessibility, security, and infrastructure stability after construction. Eventually, developers will be implementing robots to assist with inspection and repairing damage without utilizing human workers, making it safer for everyone.
Real Estate companies have realized the usefulness of AI data and sensor technology to provide higher comfort and more efficient spaces for consumers. Buildings can become personalized for monitoring, home safety and even senior care. For example, motion sensors can track the tenant’s daily movements so it can then adjust door locks, faucets, electronic devices and monitor optimal temperatures for each tenant. Even though these are simple solutions consumers will enjoy focusing on bigger things while your home adjusts to your comfort.
In Manhattan AI has been implemented in commercial structures already, one such project is the Empire State Building. It currently collects data to identify the buildings energy efficiency so adjustments can be made to keep this historical monument standing and useful for as long as possible. It’s not just HVAC systems and lighting controls that AI can help with. It can also identify roof and insulation issues during construction and water usage patterns which can then be used to identify the best materials to use during construction to offer energy efficient resolutions.
In time, Artificial Intelligence can provide the Real Estate market even more opportunities to make a sale by offering a safe haven with technology both inside and outside of the home.