Two big movements are emerging for building owners. The first is that owners are beginning to leverage technology to help streamline many of the outdated processes that currently exist today, ultimately helping to centralize decisionmaking for the business.

Second, there is a major trend where real estate investors recognize the value of the IoT (Internet of Things) for tenants—and look to technology to give an enhanced experience, according to Logan Soya, founder and CEO, Aquicore, which provides a platform that allows owners and operators to run a portfolio with data-driven insights.

The big challenge here is that sensor-enabled technology sounds very familiar to things that have been promised to owners in the past. For instance, Soya says the concept of a traditional alert from an HVAC (heating, ventilation, and air conditioning) system is actually pretty dumb, but alerts that are built on AI (artificial intelligence) and machine learning can provide more value for the long term.

Today, there are many new examples of how both commercial and residential construction companies are incorporating smarter systems in buildings and homes.

For example, Balfour Beatty recently partnered with IOTAS in an effort to make apartments a little bit smarter at Purdue University. The project, Aspire at Discovery Park, will open in August 2019 and will give students the ability to operate and customize the living environment from an app—including lighting, thermostats, outlets, sensors and locks, and integration with Amazon Echo and Google Assistant.

With Gen Z being a staple on campuses across the country, integrated technology in apartments can offer a very unique perk.

As another case, Shine Communities and Baya Build are collaborating on smart communities for adults with autism. The plan includes in-home sensory technology and the latest in building and building technology. In this case, the technology is provided by Vivint Smart Home.

Today, there is a growing movement toward giving the tenants the types of technology they need and want in homes and buildings. At the same time, the advancement of the IoT means that now it is possible to have one, smart building for occupants.

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