Proptech solutions are sprinting off the blocks as artificial intelligence supercharges the creation of powerful new products and vastly improves those already in existence. AI-powered technologies are boosting data acquisition and information crunching to unprecedented levels and new uses are consistently being unveiled. These days AI-enabled apps are so powerful that they can, for instance, detect whether a property development is being constructed to best potential, and if not, design an alternative to meet council regulations and also comes in on budget via the added ability to generate detailed financial modelling complete with potential sale prices. Think of the time and effort saved!
Property management is being transformed by automation and machine learning, new tools dramatically reducing manual workloads for mere mortals charged with the fiddly business of managing properties. AI-enabled tech is also being employed to support tenants and ultimately helping improve the value of an asset by analysing and alerting managers to any future maintenance needs.
Here is just a taste of proptech ventures leading the way with life and business-altering technological advancements:
1. XY Sense
Workplace occupancy sensor platform XY Sense is an enterprising start-up that fully embraced AI’s capabilities and ended up with a market leading, groundbreaking product. The platform manufactured by XY Sense – a company founded in 2016 in Melbourne’s Richmond – is now billed as “the world’s most advanced AI sensor for workplaces”, and last year doubled its customer base while accruing customers in 17 countries.
XY Sense offers superior privacy and security while its AI-based platform passively collects data to deliver accurate workplace utilisation analytics in real-time. The idea is to remove guesswork around making a workplace the right size and hence reduce costs while promoting happiness.
“Our sensor has been designed in-house and is 100% anonymous,” says co-founder and chief executive Alex Birch. “It’s designed with privacy and security from the ground up. The data is fed in real time through to our cloud platform and we have a dashboard that can show workers which spaces are available right now and how different teams are using spaces.” XY Sense’s popularity continues to rise with the company recently expanding into the US.
xysense.com
2. Aerometrex
Aerial imaging has been around for decades as has the Adeliade-based, ASX-listed firm Aerometrex. But an AI-overlay shifted the goal posts and paved the way for the company’s MetroMap product. MetroMap pledges “higher resolution and better accuracy than satellite and many other commercial imagery options in the market”. The birds-eye images contain so much detail that most clients can do away with the necessity for costly site visits. MetroMap can for instance, pinpoint the solar penetration in an area, or the concentration of trees and lawns, and is hailed as ideal for businesses seeking the highest density areas for their ventures. The MetroMap feature is sought after by clients from multiple sectors including commercial property and real estate, engineering, construction, logistics, energy and transport.
Home- Aerometrex
3. PlanRadar
This established proptech is in the process of fully utilising AI to enhance its suite of popular time-saving products for the development and construction sectors. Despite economic headwinds buffeting construction industries worldwide, demand has consistently increased for PlanRadar’s solutions that range widely from basic automation to facilitating digitally-connected hybrid site teams, leveraging BIM management systems and tools for streamlining compliance documentation. In the past year the company’s revenue surged 50% in Europe alone, led by Italy, Great Britain and Spain where the customer base grew 90%. In Australia, PlanRadar estimates that a document management feature introduced last year to streamline processes by centralizing document control and enhancing traceability helped save its customers over 7 hours a week on administrative tasks.
“Our business model at PlanRadar is centred around empowering our clients to future-proof their operations through technological advancements,” explains Sander van de Rijdt, Group Co-CEO. “This strategy has been crucial in helping our clients effectively manage the impacts of global economic fluctuations.”
Defect Management and Construction Software - PlanRadar AU