Is it just about turning up each day, is that winning?! Can that happen if you’re a freak of nature like this race horse Winx. I’d say most Australians know this horse by now. She has broken most horse racing records that exist on the planet and although her talent may never be surpassed, certainly not in our life time, she doesn’t just turn up. I happen to know the jockey’s personal trainer and the two of them (Winx and the Jockey) train their butts off. But watching on race day, 27 wins in a row on all types of tracks and conditions, it would not be a surprise if someone announced that she was the first Artificial Intelligence robot horse experiment….ha…jokes aside, there’s little argument that this team has proven a winning formula almost beyond comprehension.
From the outside looking in, it can be observed that they have executed 3 strategies for ultra-success very well, The right people (Jockey, support team, trainers) Good process (training, diet, recovery, race plan) and Technology (Analytics on competition, tracks, performance etc). These BIG 3 as I like to call them are paramount in winning at anything in the world today, business, sport, you name it. Having grown up within a strong sporting culture, 1&2 of the BIG 3 become apparent over time if you want to achieve goals, but it wasn’t until technology became important and disruptive in the recent decade that the significance of each of these functions and how they interlink with one another needed to be carefully explored. Gino Wickman in his book Traction sets out a clear methodology on this.
The grease that oils the wheels of progress and success, more today than ever, is CHANGE. Fear of change is one of the great obstacles of progress. Everyone, without exception, experiences this fear. Over weight and got to make changes to the diet or exercise regime to get healthy and the only way to do that is to make some changes, FEAR. Got asked to speak at a conference, first time in front of 300 people, FEAR. How often have you been in these situations and pushed through it, only to look back with a sigh of relief and joy. The pain for change is forgotten when the benefits are realised.
Times are changing fast! Google, Facebook, Apple, Spotify, Xero, Trello and Uber are all names you have probably heard of, these are cloud based (IoT- Internet of Things) software’s which use Artificial Intelligence and machine learning to provide us with more efficiency, transparency and smarter and faster decision-making capability. Using consultants is the way it’s been done to achieve these key advantages in the property industry, a variety of mechanical, energy, hardware experts providing advice to help clients with smarter decisions to run the portfolio. What’s the goal though; reduced outgoings, happier tenant, increase revenue (rents), get a better NABERS score, improve the corporate reputation for being green??? All of these make sense, but how many consultants do you need to achieve these goals, how accurate are they? How much transparency and control do you have? A few big issues arise with this method;
1. Labour intensive and retrospective ie NOT real time
2. Expensive to maintain high performance the consultants or engineers need to remain engaged permanently.
3. Accuracy whether a fault can be detected accurately and on time depends heavily on the knowledge and experience of the engineers on site. A wide range of quality involved, some good, some bad.
4. Scale it will take quite a long time for engineers and consultants to fully understand operational features and develop new rules for a new system or building. If there is a team of great engineers it’s hard to apply them at scale.
5. Transparency is limited to what the consultant provides each week or month. This lack of clarity is compounded by having several suppliers, it’s not centralised and consistent which can detract greatly from efficiency.
6. Breadth buildings are complex, there is a lot to analyse these days; sensors and meters sending the right data, equipment (HVAC, lighting, lifts, water), and operations (People movement, cleaning, security, weather changes, energy, gas & water usage)
There is a NEW way to do things, by using smart cloud based (IoT) software with Artificial Intelligence and machine learning, utilizing the data that exists within buildings and providing a ‘Google Maps” type of solution to all of the existing inefficiency in the industry. Real time, scalable, revealing, centralised, accessible, highly automated and user-friendly platform designed to get property owners what they ultimately want – LESS RISK, LESS PEOPLE and MORE PROFIT.
Since data is everywhere in a large commercial, retail or industrial building, by utilizing this data in a smart way, your visibility across the asset is limited only by the data that’s available, and it’s working for you 24 hours a day, 7 days a week. When machine learning is implemented, you have a smart computer learning and asking all the important questions every 5 minutes every week, every month, every year. Just like Google, Uber and Facebook continue to change the way the world functions, the convergence of AI and the Internet of things will change the property industry, improving process efficiency, increasing value and supporting a sustainable future. Buildings are complex, lets make your decisions simple.