VTS CEO Nick Romito Talks Open Data for AI and Machine Learning in CRE
With AI and machine learning becoming buzz words in Commercial and Corporate Real Estate, more and more companies are capturing comprehensive data and realizing the need for open platforms.
Fully leveraging AI and machine learning is five years away in real estate, estimates Nick Romito, CEO and co-founder of VTS, a leading leasing and asset management company, "Today’s mindset is that it is just a foreign thing."
In this Video Showcase, Romito says the industry is learning how to gather and structure data so that real estate can catch up with other verticals like healthcare.
Romito’s most "unpopular" opinion is that the multitude of real estate platforms should be completely open with data flowing freely in and out. Larger real estate incumbents are beginning to agree, he says, but the movement remains "behind the scenes."
The future of daily real estate could be macroeconomic data (real estate combined with environmental, social, health metrics, etc.) helping people decide which cities to invest in and why.
Keep current with industry insights and trends from around the world. The Realcomm | IBcon Video Showcase is a monthly feature of curated interviews selected from our Conference LIVE Video Library. Learn how Commercial and Corporate Real Estate organizations implement new technology, fail fast to improve, build innovative teams, connect buildings and neighborhoods, and manage cyber hacks and security attacks.
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UPCOMING REALCOMM WEBINARS
Smart Building DIGITAL TWINS – Demystifying the Building Visualization Technology - 3/12/2020
From design and construction to operations and maintenance, building processes can be represented by millions of data points. A Digital Twin, the contextual model of an entire smart building ecosystem, serves as a repository of data from BIM, the BAS and sensor networks associated with the building’s infrastructure. It acts as a bridge between the physical and digital world, as the dynamic replica is fed real-time data from actual operations of the physical asset. AI and machine learning integrations help to contextualize and process that data to uncover operation optimization opportunities within the virtual environment that can be applied to the real building. This webinar will demonstrate the current state of Digital Twins in the built environment and feature the most relevant, practical and successful case studies surrounding the technology.
Tom Shircliff is a co-founder and principal of Intelligent Buildings, a nationally recognized smart real estate professional services company that was started in 2004. Intelligent Buildings provides planning and implementation of next generation strategy for new buildings, existing portfolios and urban communities. Tom is a speaker and collaborator with numerous universities and national laboratories, a gubernatorial appointee for energy strategy and policy and founding Chairman of Envision Charlotte, a Clinton Global Initiative.
Matthew Lennan has been integrating IT and building system technologies for more than 30 years. He has developed and implemented computing infrastructures for global financial firms, major healthcare facilities, manufacturing, entertainment complexes and traditional smart buildings. Most recently, Matthew has been working in software development to refine the customer experience for smart buildings in Office, Retail and Residential environments. He is currently responsible for driving Innovation across Oxford Properties’ portfolio.
Marty works with CRE clients to understand their needs and challenges, and then translates that knowledge into strategies for Digital Twin solutions and, ultimately, successful projects and compelling stories. Marty has helped bring technology products to market for more than 25 years. Prior to joining Invicara, he served in marketing, product management and business development roles for a wide range of software companies and founded two consulting firms.