AI-powered climate change mitigation, without a doubt, is the topic of the day, attracting attention and making it to the top of the agenda globally. COP28, the 28th Conference of the Parties to the UN Framework Convention on Climate Change, was no exception, with companies like Google, Microsoft, and IBM emphasizing the advancement and power of AI solutions for climate change mitigation. Over the past decade, Artificial intelligence has been a domain of great interest with multiple industry uses. With its data-driven, autonomous, and predictive capabilities, it is no surprise that the technology found implementation in the challenging journey of redefining the sustainable future of real estate.
Since the 2015 Paris Agreement breakthrough, many industries have entered the next era, where sustainability has become the paramount factor determining the future of our planet. Real estate was no exception. Building operations required solutions for rapid decarbonization to tackle the accelerating climate challenge.
While the solution is already there, it requires rapid implementation and adaptation by more industry leaders to make an even more significant and immediate impact. The following three key implementation pillars will be defined in the progress of the real estate sector’s transformation toward climate neutrality.
Steep sustainability goals force the real estate sector to seek solutions to begin the transformation. While AI is a natural remedy, integrating the data-driven solution into real estate climate change measures can help track and measure the impact of decarbonization while identifying and achieving long-term sustainability goals. Building the business’s climate change mitigation strategy can help achieve more transparent and sustainable governance while delivering an actual and measurable impact. The AI data-driven methodology can easily integrate with real estate climate measures, providing consolidated reporting and measurable KPIs.
It is no secret that 40% of global emissions come from the real estate sector, 70% of which are produced by building operations. Real estate decarbonization has become a growing priority for all portfolio owners, requiring immediate relief that could be scalable to tens of unique buildings and millions of dynamic data points within a short time frame. AI is the exact tool for the job, capable of reducing CO2 emissions across all buildings, with the impact autonomously progressing and increasing over time.
Artificial Intelligence is an essential tool for building managers and technicians that significantly augments human capabilities, enabling them to focus on mechanical issue resolution, while AI controls the building technical systems, providing valuable insights. As artificial intelligence grows its knowledge, harnessing data from other buildings across Europe, it enables broader technical understanding and enhances the operational mindset. AI accounts for accumulated data and proactively adjusts the systems, allowing building managers and technicians to operate their premises at maximum efficiency while tracking, monitoring, and meeting the real estate sustainability targets. Human capacity control augmentation makes artificial intelligence a powerful tool to help navigate the complexity of building ecosystems.
Laying the pathway toward real estate decarbonization is a great challenge; however, it must and can be tackled using the latest technological infusion that includes digitalization and data-driven AI automation. While the goal seems immensely large, it is a globally achievable reality. It is within the power of each real estate property to begin its AI-infused sustainability transformation toward a climate-neutral future for our planet.
Co-Founder & Chief Executive Officer
About R8 Technologies:
R8 Technologies is the leading human-centric Artificial Intelligence (AI) technology company that manages over 3 million m² of commercial real estate across Europe. R8 Technologies, data-driven AI solutions, has received international recognition while closing the 2023 investment round and welcoming Panasonic Corporation, Encevo, and Møller Eiendom as international partners. With 55,000 tons of real estate CO2 reduced already, R8 Technologies will help the real estate sector transformation even further.
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