A virtual conference in November brought together thought leaders in property technology to discuss how IoT-equipped buildings and cities benefit residents
The second annual IoT PropTech Summit proved that understanding how to leverage the Internet of Things (IoT) within property development and management can open up abundant opportunities for innovative companies.
Seven virtual panels were held over the course of a single day, featuring dozens of industry leaders including Rogers for Business, Microsoft, PCL Construction, the Toronto Construction Association, and Eddy Solutions (which also hosted the event). The speakers shed light on how connected technologies provide a foundation for the evolution of not just buildings but entire cities.
Here's a quick overview of some of the topics covered.
The benefits of IoT in multifamily dwellings
Owners, operators and tenants all benefit from connected technologies deployed within apartments and condominiums. IoT devices built to take advantage of 5G networks are providing actionable, real-time data on everything from air quality to water leaks, preventing property destruction and in some cases potentially saving lives. The Living Smart: 360 Degrees of Technology for ROI and Exceptional Customer Experience in Multifamily Space panel, which featured Desiree Carter, Director of IoT Smart Cities with Rogers for Business, laid out the benefits and challenges of IoT devices being used in these buildings, and demonstrated there's still plenty of opportunity for innovation and growth.
How ESG fits into the PropTech picture
Environmental, Social, and Governance (ESG) have become important non-financial factors considered by property investors and stakeholders. A quartet of panelists on the Environmental, Social, Governance (ESG): How PropTech Investment Bolsters ESG Initiatives webinar provided a high level perspective on several elements that make up ESG. These included the carbon footprints of condensed communities in larger buildings, as well as the weight investors and construction companies place on ESG innovations. Speakers explained how proper implementation of IoT technologies in support of ESG strategies and objectives can help lead to higher valuations.
The future of smart property technology
Although IoT is driving change very quickly in property technology, we're just beginning to pull back the curtain on what can be achieved. The A Smart Future: How Developers are Turning to Intelligent Designs panel dug into what lies ahead for connected technologies in the construction of new properties, from design and architecture to the ongoing management of buildings. Noting the potential for both improved processes and return on investment, the speakers explained why the industry is keen to take advantage of IoT sensor data and intelligence, but there's still more work to be done. Moving to the next stage will require vendors and service providers to educate property executives on the financial and process-related benefits of IoT.
Why and how IoT adoption has accelerated during the pandemic
One of the conference's most interesting panels—featuring the insight and expertise of Rogers for Business' own Tess Van Thielen —was Disruption and Opportunity: How the Past Two Years Have Transformed Our IoT Appetite. This talk explored how the rapid adoption of IoT technologies during the pandemic is moving us further down the road toward full automation. Tess explored how 5G is providing the latency, capacity and speed necessary for automation applications; how centralized computational power is being brought closer to edge devices and customers; why the proliferation of sensors and growth in battery life is making more types of automation possible; and how AI is now smart enough to let more remote devices make their own decisions.
How connected technologies are changing the world—and business—for the better
Roopesh Patel, Rogers for Business’ Director of Smart Buildings & Construction, sat down for a one-on-one with Eddy's Shkya Ghanbarian, giving a big-picture talk about IoT for the Intelligent Infrastructure for an Intelligent World webinar. Roopesh cited the exponential growth of IoT over the last decade, as well as statistics suggesting the vast majority of businesses that have embraced connected technologies enjoy noticeably improved efficiencies. Building on this, he described how smart building infrastructure is serving as a microcosm of smart city infrastructure, creating the foundation for truly smart cities.
Other subjects under the spotlight during the summit included how the insurance industry is adjusting to align with the advantages provided by connected technologies within the property sector—covered in the Accelerating Growth in IoT Technology: Leveraging Insurance and Construction Partnerships panel—and the ongoing growth and development of IoT technologies that are helping to create the cities of tomorrow, discussed by panelists in the Smart Buildings to Smart Cities webinar.
We'll be taking a deeper dive into some of the exciting ideas that arose in these panels in upcoming posts. In the meantime, you can learn more about how Rogers is providing a reliable backbone for smart buildings and smart cities by offering the networks and expertise necessary to let connected technology grow in the construction and property management industries.
Contact a Rogers for Business representative to find out how we can help your organization become part of the property technology revolution.