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ARTICLE · 14 JULY 2020

Technology procurement challenges for Smart Building developers and operators

Corrs Chambers Westgarth
Corrs Chambers Westgarth
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Corrs Chambers Westgarth

Corrs Chambers Westgarth

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Whilst smart building technologies have many benefits, they also bring many new challenges.

AustraliaTechnology

State of the art 'smart building' technology has rapidly become a key differentiator for all stakeholders in the real estate value-chain – owners, operators, tenants and end users. However, as building technology becomes more complex, building developers and operators face new challenges that require technology-specific skill sets to address.

The data-driven 'smart buildings' of tomorrow will be made possible by the core technologies of Industry 4.0 – namely, 5G, IoT, AI and cloud. They will offer unprecedented customisation and control, operational efficiencies and cost saving, and will also generate valuable data sets. Smart building technology will use fleets of IoT sensors, machine learning and data analytics to learn occupant preferences, monitor occupant activity, connect physical and electronic identity, provide digital design tools, and automate 'operational' building technology (e.g. climate control, lighting, fire, and security).

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