Internet of Things technology in commercial real estate opens up a world of possibilities for improving occupant experience, reducing energy costs and managing building equipment, three areas with the potential to impact returns on real estate assets. Large players such as Intel and new startups are working on solutions that put the Internet of Things to work for commercial real estate. This morning I caught up with one of the players in this race to create real value in real estate IoT, Naeem Zafar, Co-Founder & CEO of Adolene, Inc. Zafar’s growing team is creating a smart building retrofit solution called TeleSense.
TeleSense focuses on solving three problems in commercial buildings. First, TeleSense is able to remotely sense temperature, humidity and air quality thus enabling building managers to make decisions that can improve the occupant experience. Second, TeleSense monitors energy use & consumption. By combining the monitored data with weather data, energy demand pricing, occupancy and building energy demand TeleSense is able to reduce overall energy consumption as well as reduce energy consumption when energy costs are higher. Third, TeleSense uses vibration, temperature and sound or acoustics to predict the failure of building equipment, thus migrating from preventative to predictive maintenance.
“The future of the smart building is huge,” said Zafar. “It’s all about gathering data easily and creating a real brain to actuate based on the data in real time,” he explained.