How the Internet of Things (IoT) and Artificial Intelligence (AI) are transforming facility management?

A boom in the technology sector has paved the way to a lot of advancements, especially in the business sector. The proceedings now can be performed in a swift manner wherein the context of facilities management, the role of the facility manager is changing.

The building owners have high expectations from the facility management team to be collaborators and stakeholders for business growth. There has been a shift of focus to highly efficient operations and occupant experience where the teams are being expected to simplify their roles as smart solution providers.

The present technology available for facility management is the standalone software, but in order to become value-driven players and staying at par with the changing customer needs, the team requires a technology which amalgamates the siloed building automation system, enables the effective use of existing data and resolving critical issues.

The existing buildings today have humungous valuable accrued data on assets, energy and people which can be put to work. With predictive analytics and AI coming on its own, it is high time to use the data insights which bring together maintenance, operations and sustainability for smarter activities, occupant engagement and productivity and everyday sustainability performance intelligence.

Currently, the built environment requires assembly-line style systems to operate on an extensive portfolio of buildings, for the highest efficiency levels. The highest probability is the Internet of Things (IoT)  and Artificial Intelligence (AI) which will ensure the efficiency of scale in the facility management. IoT reuses the existing siloed investment in buildings like fire safety, automation systems, security systems, power systems, etc. The machine learning multiplies the value of data which further brings data-driven intelligence and also removes manual work.

In a high expenditure, high cost and heavy maintenance industry, the facilities management teams which use the machine learning can switch up the role from service providers to value-added partners so that there is a clear showcase of benefits to business by delivering sustainable facilities management solutions. In order to provide an elevated occupant experience, a predictive rather than reactive asset management is not only critical but also crucial.

The facilities managers spend 30% more on the energy costs for a building which is not benchmarked, and there is also a maintenance expense of 15% per square foot every year, which is a direct result of inefficiency. There will be predictive energy efficiency if there is an IoT driven sustainability management solution which derives real-time information about buildings which use the available data.

IoT and AI is the future of facility management which will ensure that there is a smooth running of operations by the facility managers.