Real estate and infrastructure-focused investment manager AMP Capital announced that it will roll out energy saving artificial intelligence (AI) technology across its real estate investment portfolio. The new system, to be deployed by Canadian-based AI company, BrainBox AI, is expected to result in a 20 – 40% reduction in the carbon footprint of the properties, and decreased energy spend of up to 20%.
AMP is one of the largest direct real estate fund managers in the Asia-Pacific with AUD$28 billion in real estate assets under management, with properties across CBD office buildings, retail shopping centres and logistics facilities.
AMP Capital’s Head of Sustainability and Platform Operations, Chris Nunn, said:
“This market-leading technology is another step towards reducing our carbon footprint, taking us closer to our Net Zero Carbon aspirations and 2030 Sustainability strategy.”
The new autonomous AI HVAC (heating, ventilation and air conditioning) system will regulate building comfort and energy use automatically to reflect changes in outside temperature and occupancy of the building. According to AMP, in addition to the environmental benefits of the new platform, it will also result in an improvement in comfort for people occupying the buildings of up to 60%.
AMP Capital’s Head of Asset Technology, Daniel Lepore, said:
“This industry-defining technology is a major step forward in making buildings more environmentally friendly, as well as creating exceptional customer experiences and ultimately driving significant value and cost efficiencies for our investors.
“Practically, this technology moves in step and even ahead of the weather. On a cold day it will automatically increase the temperature to suit the climate and vice versa on a hot day. For too long air conditioning systems have been too slow to react to changes in the weather, resulting in buildings using more energy than required and a poor user experience. We won’t have to wait for our customers to pick up the phone, the system will respond before there is even an issue.”
Ben Gill, Head of Country, Australia & New Zealand at BrainBox AI, said:
“We are very happy to be partnering with AMP Capital to make their entire real estate portfolio more energy efficient and significantly greener.
“BrainBox AI’s goal is to provide real estate owners with the most advanced AI technology in the world that not only autonomously adapts to the changing conditions of buildings, but creates a more comfortable environment for its occupants. AMP Capital’s forward-thinking approach to the integration of technology in real estate reflects the future of building management and what will be required to dramatically decrease our built environment’s impact on climate change.”