The eco-friendly edge: Using AI to drive sustainability in CRE
The imperative for sustainability and operational efficiency is more pressing than ever, and so the commercial real estate (CRE) sector finds itself at a pivotal juncture. ?
Leveraging artificial intelligence (AI) offers an unprecedented opportunity to optimize energy management, enhance sustainable practices, and ultimately decarbonize the real estate landscape.??
The CRE Resource’s August edition delves into how AI-driven technologies are transforming the CRE industry, aiding in the pursuit of ESG goals, and setting the stage for a greener, more efficient future.??
Read on to explore how AI is not just a tool, but a catalyst for a sustainable revolution in commercial real estate.?
1. Smart buildings, greener planet: AI’s role in CRE energy management?
The real estate industry is responsible for about 40% of global emissions related to combustion, with 28% coming from building operations and 12% from the materials and construction processes, according to the United Nations.?
But CRE organizations that make use of AI-backed technology can make a significant dent in building-related emissions, according to McKinsey.?
2. Harnessing technology and AI for sustainable commercial real estate practices?
In an era defined by climate change, resource scarcity, and social responsibility, the integration of Environmental, Social, and Governance (ESG) principles has become increasingly imperative across all sectors of the economy.??
Within the realm of CRE, the adoption of sustainable practices also presents compelling financial opportunities and risk mitigation strategies.??
Explore the role of technology and AI in advancing ESG objectives within the CRE industry.?
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3. How can AI accelerate the decarbonization of real estate??
Decarbonizing real estate in the most effective way increasingly involves a combination of human expertise and rapidly evolving technology.?
A growing number of today’s buildings now incorporate a range of smart technology that tracks performance and improves energy efficiency.?
Artificial intelligence is the next layer. It is fast becoming a vital tool to interpret the vast datasets generated by smart buildings from the likes of IOT sensors, interval meters, water management tools, and ongoing maintenance software reports to historical utility bills.?
4. Sustainable property management with AI?
With a growing emphasis on sustainability and energy efficiency, CRE professionals are increasingly turning to AI-powered solutions to optimize building operations. One such solution is Hank, a cloud-based, AI-powered platform designed to manage and enhance HVAC systems, among other functionalities.???
Explore how Hank is changing the game in CRE management and ways to adopt smarter, more sustainable property management strategies at your properties.??
5. How AI can help cut real estate carbon emissions?
The adoption of technology to help solve climate issues is now a given. The majority (85%) of CRE leaders expect that their business will increase their real estate technology budget over the next three years, according to JLL's recent survey. Investments in AI and sustainability solutions are expected to have the biggest impact.?
But while AI’s potential to transform the global economy has captured the world’s imagination, less talked about is how the adoption of AI will help tackle carbon emissions in real estate, which is responsible for roughly 60% of global emissions in major cities.??