The real estate industry is entering exciting times as technology's applications continue to innovate. The interconnectivity between the physical and digital produces amazing products and services, optimizing houses, buildings, and cities. Artificial intelligence (AI), embedded systems connectivity, blockchain technology, and digital twins are evolving constantly and realizing smart housing, buildings, and cities. A real estate technology partner is essential to thrive in Industry 4.0.
We are at the dawn of the fourth industrial revolution, where opportunities are up for grabs. You can become an industry leader and pioneer the way or follow behind, copying the steps taken by those paving the path. If you want to be an industry leader and pioneer your market Internet of Everything Corporation (IoE Corp) is the ideal real estate tech partner. The innovative breakthroughs IoE Corp has developed provide you with the following:
Continue reading for a detailed description of the groundbreaking technology developed by IoE Corp, the Eden system. We will guide you through the current problems digital transformation is facing and how IoE Corp's Eden helps to solve them.
Before we get into the nitty-gritty challenges technology has to overcome, let's drive through a short path explaining where real estate in Industry 4.0 stands today.
The solutions technology offers the real estate industry are far and wide, from smart devices and sensors turning lights off and indicating there's no milk left in the fridge; to more complex services and products like connecting to home cameras via an app and telemedicine alerts for the elderly. The sky is the limit.
At the current phase of the connected home movement, resident access to an all-in-one suite of smart devices is considered less of a luxury amenity and more of a “make or break factor” for many modern apartment searches. Another vital factor extracted from a survey indicates that:
Millennials are now the largest living generation on Earth; therefore, the real estate business must offer what customers demand. Some of these services include:
As you can see, the offerings enter all aspects of a home, giving residents home commodities like autonomously turning the heating on before arrival. Voice commands to turn lights on and off; smart thermostats reduce costs by turning on when homeowners are at home. Automation is the next frontier for real estate providing cost-efficiency, remote control, and optimized maintenance.
All these new and exciting intelligent home appliances making life easier for families and fast-paced millennials must ensure security. Real estate is in the business of providing homes, residential houses, and holiday homes, places where people want to feel safe and relaxed. Although connected homes are enriched by the commodities technology is igniting, security is still a work in progress.
Cyberattacks are a problem, and real estate agents must prioritize home security to lead Industry 4.0's buy-and-sell residents. Going as far back as 2019, the rate of cybercrime coming from the lack of connected embedded devices security in homes reached a staggering 105 million. A year earlier, in 2018, the numbers reached 12 million.
Is this problem going away? Unfortunately no. Estimates indicate nearly 30 billion connected devices worldwide, creating a vast surface attack for cybercrime. From baby monitors to pacemakers, connectivity is everywhere; thus, the potential risk of an attack is significant. In addition to IoT's lack of in-built security, add the risk and vulnerabilities arising from data generated by devices, sensors, cameras, home appliances, etc., traveling to server centers.
When data travels through the current World Wide Web (WWW), it can be hacked, and be affected by latency and bandwidth bottlenecks. Such dangers have the potential of becoming life-threatening situations and hacked home security cameras jeopardize homeowners' safety. A latency issue can alert first responders of an elderly suffering a fall or heart attack too late. Therefore technology becomes, instead of an asset, a threat to homeowners' lives, and the sole intent of a home, is relaxation.
Internet of Everything Corporation's Eden system is designed to overcome the issues above. Using existing devices on-premises permits for storage, analysis, processing, and delivery at the source, reducing server center use. Its blockchain (Yggdrasil) keeps track of data movements and verifies them through manifests and consensus, and as it's built on a decentralized infrastructure, one point of attack is mitigated.
For example, if a hacker accesses a home device, the network detects the device deviating from its assigned tasks and ignores it. The same happens when a device breaks down and continues to send erroneous data inputs to the network. The anomaly is detected and the device ignored by the network. The function of the home can continue as the data is distributed throughout the network, meaning another device can continue the tasks of the infected or malfunctioning node.
Artificial intelligence is moving fast and becoming integral to the fourth industrial revolution, like embedded systems. Combining them opens benefits touching all aspects of a business, supply chain, customer service, logistics, and manufacturing are some examples. Equipment and machinery maintenance is critical for all industry verticals, and real estate agencies can optimize their buildings and residential homes by integrating AI.
Up to now, there were two options to maintain equipment and machinery, reactive and preventive maintenance. Today we can add a third option, predictive maintenance. For this new way of taking care of equipment to be advantageous AI implementation is essential, as historical data analysis is key. AI in predictive maintenance anticipates machinery failures, so in home and building maintenance, for example, pipe leakage and A/C systems failures are alerted before breakage.
Implementing embedded AI devices into pipes and A/C systems and using the power and speed AI has to analyze current data and compare it with historical data, condition monitoring is optimized. There is no need to wait for leak signs coming from damp walls or having the A/C fail in mid-summer. Nor is there a need to schedule periodic maintenance that, in many cases, is unnecessary or comes too late. Embedded AI in predictive maintenance provides real estate agencies with precise data to information about the state of their buildings, homes, and apartments.
Customer satisfaction, reduced maintenance budgets, and increased revenue are the advantages predictive maintenance ignites to a real estate agency. But there are various issues to overcome for predictive maintenance to be cost-efficient. AI analytics isn't cheap, consider the amount of data generated by embedded systems, the costs rise exponentially. Current data management solutions mentioned move all data to server centers, and their data is analyzed.
Following this procedure means AI in predictive maintenance becomes a burden as all data generated by conditioning monitoring of pipes, A/C, and thermostats is constantly analyzed. Most of the time, data generated by equipment or machinery isn't necessary; for example, a thermostat might produce 1000s of temperature data points per minute. However, minimal changes typically do not matter, and data updates aren't necessary every millisecond. On top, you do not need all this data in the cloud, accessible from anywhere.
IoE Corp's Eden platform with clustered edge computing helps resolve the unseen costs of cloud computing, reducing unnecessary bandwidth use and server capacity while simultaneously taking advantage of intelligent device resources like embedded AI in predictive maintenance. Moving us to the next problem real estate agents face when planning a digital transformation strategy.
Industry 4.0 is a data-driven revolution. Data generation is entering the zettabyte era (10²¹), a data tsunami managed by centralized server centers. Buildings stored with rows and rows of servers for data storage analysis, processing, and delivery. Even before Industry 4.0's dawning, these solutions had issues like the ones already mentioned, latency, and bandwidth bottlenecks. Such problems resulted in slow websites, temporary offline services, and outages affecting user experience.
Today's reality moves into critical situations where an internet outage can mean, for a smart home, that critical functions as opening the door or alerting an emergency, don't work. Such a situation is unacceptable as the potential consequences can lead to decreasing customer loyalty and the worst-case scenario, a life-threatening situation. Another issue from centralized data management is the increasing costs and previously mentioned unseen costs.
Connected homes and buildings produce 38x more data than ten years ago. For example, homes are expected to reach one TB/month by 2023. Most major ISPs have data caps set at one TB, which means consumers who surpass this can see how their monthly cable bill can drastically increase. The solution to reducing the need for data center usage is to keep data management on-premises.
Our Eden platform takes care of this issue; using existing hardware computing power on-premises data management storage, processing, analysis, and delivery stays on-site. A solution that reduces bandwidth costs and mitigates latency and bandwidth bottlenecks. Eden's clustered computing reduces cloud infrastructure needs in three ways:
The third point, previously mentioned, less computational power, is closely related to environmentally friendly computing. Data centers are highly energy intensive and require cooling systems working around the clock 365 days, and to achieve it; the only option is to use fossil fuels. Therefore, data center usage must be mitigated, for real estate agencies to provide smart home energy efficiency solutions to their customers.
If Information and Communication Technology (ICT) continues to move down the centralized path, estimates indicate its carbon footprint will reach 3,5% surpassing the aviation and shipping industry. So smart home energy offerings must be approached on a holistic level and even more so today when customers are increasing their awareness of climate change.
Another important factor the real estate industry must consider is the type of programming language usage. There are two types of computing, interpreted and compiled. A recent study indicates that complied computing is less energy intensive than interpreted and today the most widely used are interpreted. Sustainable computing must be approached holistically, real estate agencies can't offer real smart home energy efficiency if data management is entirely centralized.
Again Eden helps to reduce data center usage and uses a complied computing language, Rust, giving real estate industry leaders a holistic environmentally friendly computing solution. Sustainable computing enhances smart home energy and smart home construction by acting on decreasing ICT's CO2 emissions via decentralized data management systems and utilizing low energy-intensive computing.
Internet of Everything Corporation is onboarding new partners to join us in our mission to accelerate connected embedded systems' full potential. You can learn more about Eden's technicalities by reading What is Eden? and how it helps to achieve a holistic smart home construction strategy in Industry 4.0.
If you want to be an IoE Corp partner, you can apply to our Planet Partner Program. Stay ahead of the crowd and pioneer the fourth industrial revolution in real estate's current $395.40bn market size. Apply - Planet Partner Program.
