IoT and AI Promote Better Facilities Management

By CIOReview | Tuesday, December 4, 2018

Digital Transformation is placing itself in every sector. Facilities and building management industry is facing a digital transformation as well. The demand for cost and energy saving and operational efficiency gave birth to the need for transformation in this sector. Existing buildings are being automated and digitized for optimum operational and energy efficiency. The pre-construction phase of construction is based on 3D modeling, and the post-construction discussions are driven by technologies like the Internet of Things (IoT) and Artificial Intelligence (AI). Both the pre and the post-construction discussions continue to be visualized and executed in isolation.

However, through the reactive approach to efficiency is forcing commercial real estate (CRE) owners to think regarding new construction for the predictive era of buildings. Increased awareness of the benefits can accelerate the adoption of this approach. CRE owners can highly optimize their automation investment to provide multi-fold value post-construction. CREs should think about IoT and AI-driven facilities management in the pre-construction phase. One of the key benefits is that the facility can be designed and the IoT-led automation systems can be laid from the start. Considerable amounts of time and cost could be saved as long as a predictive model replaces preventive and reactive maintenance.

Enterprise-level implementation of IoT and AI-driven facilities management can help during the pre-construction phase and can highly impact the capability and performance of a building post-construction. The CRE industry can harness IoT-enabled building management systems (BMS) to increase the efficiency and the performance of the building and also utilize the insights from sensor-generated data to intensify building user experience. Six times more money is spent on operations as compared to construction. Twenty percent is spent on development and 80 percent on recapitalization, operations, and repairs. It highly suits that IoT and AI driven facilitates management technologies should be integrated into the blueprint stage of a building considering this break down of the expenditure

Automation and IoT-led, building management system, can help prepare the building for operations. CREs can use real-time data and insights to drive business decisions and help them understand their comprehensive facility and asset portfolio.