If PACE Managing Director Michael Leahey is correct, buildings of the future will be able to do more than protect and sustain human life, they will become highly efficient property managers.
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Buildings will be able to quickly calculate energy usage and foot traffic as well as manage maintenance requests, all while determining the most cost-effective way to complete such tasks, Colorado Real Estate Journal reports.
This type of artificial intelligence will also make it easier to achieve cost savings in terms of energy use and consumption, and will encourage more engagement from tenants as data gathered by the building is used to offer more personalized, custom experiences for those who work in, live in and visit the structures.
This means building owners and property managers should consider hiring teams specifically created to plan for and manage this emerging technology, according to Leahey. Given the constantly changing nature of the industry and the fact that costs remain high at this time, doing this will ensure the highest return on investment in the space.
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