Smart, Interconnected Buildings Are Shaping the Cities of Tomorrow

Presented by WiredScore

Propmodo Technology

By Franco Faraudo · October 7, 2024

Greetings,

This week, Propmodo Technology is diving into smart buildings with the support of our friends at WiredScore. To learn more about the impact of AI on the future of real estate, download WiredScore’s latest white paper on smart neighborhoods.

Making a building "smart" has been a goal for many real estate owners for some time. Some smart building technologies, like energy management systems, have a clear payback period. Other technologies, like tenant experience apps, offer a return on investment (ROI) that's harder to calculate. A recent study by Johnson Controls revealed that only 13 percent of commercial real estate professionals interviewed considered their buildings to have fully integrated systems. According to the survey, a lack of integration resulted in reduced operating efficiencies, decreased customer loyalty, and increased regulatory penalties.

Connecting building systems is only the first step toward making a building truly smart. For buildings to react to their surroundings, they need to be interconnected with each other and the municipalities where they reside (read more in our featured article). While some cities have successfully launched smart city programs, others have experienced very public failures. Google’s highly anticipated smart city project in Toronto was ultimately scrapped due to concerns over the collection and use of sensitive public data. Interestingly, a popular play about the saga has returned to theaters.

Currently, the most talked-about smart city is Neom in Saudi Arabia. Backed by the Saudi Crown Prince, it is one of the most ambitious projects to date. However, despite the support and financial backing, Neom is also facing setbacks. Recent reports suggest the project’s future is in jeopardy due to safety concerns and internal conflicts among officials managing it.

Smart buildings and smart cities are exciting ideas that the real estate industry has envisioned for decades. But as we move closer to making them a reality, the details are becoming clearer, and with them come complications. Some smart technologies have already fundamentally changed how buildings and cities operate, while others still seem far from widespread adoption.

Let’s go!

Presented by WiredScore

How could AI transform real estate? It’s already happening with smart neighborhoods

While it’s impossible to predict with certainty how technology and AI will transform our lives, it is possible to plan for the inevitable changes in real estate by prioritizing what people want from communities in the digital age; connection, safety, sustainability and inspiration.

Smart neighborhoods are already unlocking the potential of technology and AI in real estate, by designing communities built to last and ready to adopt the newest technologies, and focusing on technology and connectivity from the outset.

To learn more about the impact of AI on the future of real estate, download WiredScore’s latest white paper on smart neighborhoods.

Bytes

Stop, drop, and scroll
A team of researchers in Italy has successfully shown that digital twins, in conjunction with specialized sensors, can measure and even predict the impact of seismic events on actual buildings.

Smart and attractive
A study done on Chinese smart cities has shown that the addition of smart technologies not only helped the city be more efficient but attracted tourists as well.

Make the case
The Department of Energy has published a case study about the positive impact of the smart building retrofit work that has been done to The Carl T. Hayden Veterans Affairs Medical Center in Phoenix, Arizona.

More Propmodo Technology

Propmodo Technology is edited by Franco Faraudo with contributions from readers like you and the Propmodo team.

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