In The Future, Artificial Intelligence Could Help Property Management Companies Enhance Their Business
From faster elevators to automated temperature control, technology is making properties more efficient for their users. Now, emerging trends in smart building automation are transforming everything from security to maintenance. Property managers are beginning to realize that the adoption of artificial intelligence could further inform their core businesses.
The building of the future will offer advanced, proactive solutions to monitor threats, from detecting weapons upon entry to screening for unusual behavior. It will provide tracking systems that detect unknown personnel entering or badges that have been stolen. It will allow landlords and property managers insight into who is occupying their property, where they are and what they are doing.
“Landlords and property managers are beginning to see autonomous smart property systems as a strategic business initiative,” Kognition President and CEO Matias Klein said. “Smart properties transcend any job function. They can offer a customized experience in any building, regardless of asset class.”
Klein and his team are working with property managers to implement these AI solutions in buildings across the country. Kognition has introduced a smart building solution that pulls data from existing systems, such as cameras and sensors. It processes this data in real time and uses deep learning to inform property decisions. Kognition has introduced an enterprise solution that keeps buildings safer, better maintained and more secure.
“Everyone has heard of driverless cars, and this is kind of similar: this is operator-less properties,” Klein said. “The idea is you have a large number of operations that are executed on commercial properties that could become much more fully autonomous if they are powered by AI.”
The technology has uses across many verticals, but it has proven especially beneficial in highly regulated industries like healthcare and financial services, Klein said.
For example, a hospital can cut operating costs and improve patient satisfaction by automating the admission and discharge process with facial recognition. Upon entering the waiting area, patients can be checked in and their insurance information automatically processed. The goal is to make the business process faster and more efficient, minimizing the wait time in crowded emergency units and urgent care centers.
Another example of a smart hospital use is finding missing portable infusion pumps, which transfer fluids and nutrients into a patient’s body. These pumps can cost upward of $30K, and because they are mobile, they are often lost and even stolen. AI can help locate these pumps when they disappear, saving hospitals thousands of dollars, Klein said.
Each AI application is dependent on a building’s specific goals. The Kognition team works with owners and developers to create a plan of action. Every building has a different goal, and autonomous smart property solutions are designed to be customized to the needs of the building and the people who occupy it.
“Depending on the business and priorities, we work together to determine which offerings fit best, and then formulate a strategic plan and business case,” Klein said. “It’s all about developing a thoughtful plan to successfully introduce AI-powered smart property solutions into each organization in a way that adds value and creates momentum.”
Matias Klein will be speaking at Bisnow’s Innovation Summit 2018 in Tampa. Find out more here.
This feature was produced in collaboration between Bisnow Branded Content and Kognition. Bisnow news staff was not involved in the production of this content.