Oct 17, 2017
Companies must get to grips with Artificial Intelligence or face becoming obsolete
by The Team in Business
The RICS has launched an insight paper which explores the impact of using artificial intelligence (AI) in the built environment, and the urgent need for industry professionals to understand how it will influence their role, as the future will rely less on human labour and more on technology. Authored by Chris Hoar, Brian Atkin and Katie King of AIinFM, the report examines the potential impact of AI on the built environment, with a focus on facilities management.
AI in FM
One sector that the Artificial Intelligence: What it means for the built environment highlights as facing a significant impact of AI is facilities management (FM), due to the labour-intensive and repetitive nature of many FM jobs, making it an ideal place for automation of previously human-dominated tasks. However, the report weighs up the positives and negatives of such changes and how companies should deal with them.
FM will always have a vital role to play within the built environment, and even though many operational roles will become more technology-led, the sector could benefit hugely from AI at a strategic level. For example, machinery utilising AI will revolutionise the FM industry, making many jobs faster, safer, less costly and this will ultimately improve a company’s service offering and increase their bottom line.
Technology and the availability of data is also changing the way investors look for opportunities and invest. This will present a huge threat to the industry if ignored, but, again, it presents so many opportunities for those who work in the built environment. So, all businesses, however large or small, must act now and analyse and prepare for how this disruptive technology could transform their role, sector and the wider built environment — otherwise they face becoming obsolete.Paul Bagust, RICS Global Property Standards Director
The paper discusses how AI will transform the property industry by driving smart, efficient buildings from design through to construction. It also highlights how those in the industry can exploit the latest AI applications and developments, including drones and BIM (Building Information Modelling), to plan and work more effectively, while improving and better maintaining the quality of buildings and the wider built environment.
The overarching message of this report is that organisations should seek out and maximise the opportunities that artificial intelligence presents, while minimising any potential threats. This way, they will have a much better chance of controlling their business strategy, direction and financial health.Chris Hoar, co-founder of AI in FM and co-author of the paper
Artificial Intelligence will be one of the driving forces as the globe becomes more urban and digital. How this technology can develop our industries and drive productivity will be explored further at the RICS World Built Environment Forum on 23 April 2018 in London.