When real estate professionals are busy trying to attract new tenants or retain current ones, critical tasks like property valuations and building maintenance and operations can get lost in the shuffle. Fortunately, property technology (proptech) has emerged to help pick up some of the slack, Jeffrey Steele recently wrote for Forbes. “The advances in applying data science and machine learning to real estate in the past few years have been significant, and the benefits they offer the industry are amplified in an uncertain economy,” Christopher Yip, partner in real estate venture capital firm&nb ..read more

Property technology (proptech) Internet of Things (IoT) solutions provider Enlighted recently announced that artificial intelligence (AI) use in its Location Intelligence solution has been expanded, as well as new additions to the Enlighted partner ecosystem. Introducing AI models to Enlighted’s Real Time Location Services (RTLS) system improved the accuracy of finding assets and personnel more than 98 percent, an improvement over prior triangulation methods that offered 80 percent accuracy, according to the company. These AI capabilities build on Enlighted’s Temperature Co ..read more

Smart buildings have become more prominent in the commercial real estate industry and that prominence is expected to continue to grow, according to FortuneBusinessInsights.com. The smart building market is forecasted to increase from $80.62 billion where it was in 2022, to $328.62 billion by 2029. The projection shows that making buildings “smart” is more than a fad, Microwaves & RF reports. Rather, smart buildings can deliver CRE owners operational and financial benefits as well as data that can lead to decreased heating costs, optimize building ventilation and HVAC, manage lighting ..read more

When 5G arrived, it was expected to be a critical spark for the Internet of Things, but that hasn’t been the case. While 5G has been used in other arenas, it’s been a slow go for IoT-centric enterprise applications such as health-related wearable devices, asset tracking, surveillance and security, and industrial IoT networks, Network World reports. “In terms of latency and bandwidth, the vast majority of IoT devices do not need 5G,” Jason Leigh, research manager, 5G & Mobility Research for IDC, told Network World. “5G is like a Ferrari engine, but most cars don’t need a Ferrari engine.” Ad ..read more

The manufacturing sector’s growing embrace of technology has made it more efficient but also more susceptible to cyberattacks. The industry now uses a lot of Internet of Things (IoT) devices and sensors, which are often unprotected, but are integrated into enterprises’ systems. The security gaps make it much easier for hackers to access companies’ networks. This potential danger is why multinational conglomerate corporation Honeywell acquired SCADAfence, an OT and IT cybersecurity solutions provider, last month, VentureBeat reports. “(The acquisition provides Honeywell) with additional te ..read more

The need for reliable in-building wireless connectivity in spaces such as office buildings and manufacturing plants is well documented. The same level of reliable wireless networks is now being required on luxury vacation properties, Don DeMarinis, senior vice president, sales for Agilysys Americas and EMEA, wrote. Reliable connectivity helps guarantee an outstanding customer experience, which is what luxury properties expect. Attentive staff members are great, but as guests become more tech savvy, what they really want is the ability to make requests from the palm of their hand. This starts w ..read more

The property technology (proptech) market is projected to grow significantly, with an anticipated compound annual growth rate (CAGR) of 9.3 percent from 2023 to 2033, according to Future Market Insights (FMI). The predicted surge is an indicator that proptech remains popular and a key part of the real estate industry, as its market value is expected to increase from $19.6 billion this year to $47.8 billion by 2033. New technology-based solutions have helped close the communication gap between startups and real estate firms, which has allowed the proptech market to grow, according to FMI. Artif ..read more

Federated Wireless Inc., a shared spectrum and private wireless leader, and World Wide Technology (WWT) announced a partnership this month to deliver turnkey private wireless LTE and 5G solutions to enterprises and carriers. The partnership brings accessibility, flexibility and simplicity to private wireless LTE and 5G consumption models. WWT will combine Federated Wireless’ private wireless services with enterprise applications and professional services to deliver tailored solutions to its customers across industry sectors and use cases. The Federated Wireless private wireless bundles, backed ..read more

Washington, D.C. is well-known for politics, but not so much when it comes to property technology (proptech), despite its potential to be a major industry hub, Commercial Observer reports. “I think anything that’s not politics in the D.C. area is underrated in a lot of ways,” Lee Odess, CEO of Bethesda, Maryland-based Access Control Executive Brief, told Commercial Observer. “If you look at the technology impacts that we’ve had with data centers and the likes of AOL and companies like SmartThings from the IoT smart home industry, all those things get overshadowed because of ..read more

 Office landlords and commercial real estate tenants are doing whatever they can to get employees to return to the office full-time, including providing technology incentives, which remains a big challenge, Proptech reports. Currently, central business districts such as New York and San Francisco are having trouble reaching 50 percent office attendance three days a week. Property technology (proptech) companies are trying to make coming back to the office more convenient, and potentially more desirable, for workers who’ve become accustomed to doing their duties at home. For example, propt ..read more