IoT and "real estate-as-a-service": the 3 key elements to leverage
By Franck Lirzin, Executive Director Residential.
At the MIPIM PROPTECH 2018, I participated in the “IOT: OPTIMISATION BUILDING EFFICIENCY” round table. This was an opportunity to share my perspective on this technology that is transforming real estate.
Equipment, first and foremost
In Europe, according to IoT Analytics 2018, the "smart building" is one of IoT's top 3 market segments, behind the smart city and just ahead of industry 4.0. These technologies transform the building into a set of data providing tenants with more convenience, productivity, security, accessibility, energy efficiency, modularity and scalability.
This is a very large market, ranging from thermographic data measurement to digital mock-up and 3D modelling imaging services. Temperature, air quality, and management of movement within these spaces: these measures make it possible to optimise costs throughout the value chain, while improving the quality and management of housing developments.
The key is to have the infrastructure to deploy these sensors: physical infrastructure in buildings, communication networks to capture data, the cloud to store and algorithms to analyse and use it.
"Purpose" as accelerator
At Gecina, our starting point with regard to smart buildings in the tertiary sector was to put digital objects at the service of sustainable development, with, for example, better control of energy consumption and CO2 emissions thanks to Hypervision software (Bouygues E&S). “Real Estate Tech” start-ups provide many solutions. We are committed to "test & learn" approach. This is not about building a cathedral: it would already be obsolete upon delivery.
It is about quickly testing solutions on a few pilot sites and then deploying them on a larger scale across our developments.
Inventing "as-a-service" convenience and resilience
IoT has become part of our way of life. It meets society's demands for convenience — such as permanent total connectivity, mobility and accessibility. In the future, this "convenience" will be a necessity, and what is optional today will be a requirement for our customers tomorrow. IoT is making us a part of the service economy. Real estate –an old brick & mortar industry – is beginning to speak the language of computers, algorithms, and, more importantly, of customers.
More than any other industry, ours will have to face the challenge of managing personal data. Our customers live with us: we can potentially know everything about what they do. To attempt to use this data to impose a way of being or living on our tenants, or worse, to adopt a data marketing approach, would be a mistake. We would be violating the trust of our customers, which is the cornerstone of our business. On the contrary, IoT should be thought of as a means of handing back control of their living space to customers; a means of giving them all the information they need to make the best life decisions; of making data a matter of responsibility and freedom. The PWMR provides a clear framework, and this is welcome. It is up to us to go further to create value by putting IoT at the service of our customers.
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