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IoT PropTech Summit 2020
November 19, 2020, Online, Canada
IoT PropTech Summit 2020
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IoT PropTech Summit 2020
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Tales from the Front Line How Buildings are Leveraging IoT
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About the talk

IoT PropTech Summit 2020 : Panel 2

Construction is a little late to the game when it comes to the adoption of technology but some industry leaders are paving the path to smarter infrastructure.

About speakers

Julie Morin
Director IoT Solutions-(Smart Infrastructure) at Microsoft Canada
Adrian Wang
Vice President Of Business Development at 1VALET
Elliott Samuel
Vice President of Sales & PropTech at Eddy Solutions
Justin Gress
Vice President-Strategic Initiatives at Vantage Group Holdings Ltd
Brandon Vaters
Vice President Operations at 1VALET

I'm Julie Morin, a Canadian, Bilingual Internet of Things- Solutions Professional at Microsoft. As IoT Solution Lead for Microsoft Canada, I'm responsible for driving digital transformation for clients , sales motions nationally to drive adoption and implementation of Internet of Things Solutions . I bring over 20 years of experience in driving technology initiatives with Canadian and American organizations. My passion is helping clients find innovative solutions to address high value digital transformation projects. Adapting to the industry's fast changing requirements with enterprises looking for guidance with their projects for Internet of Things, Analytics and machine data strategy, while ensuring compliance, security as a forefront.

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I am an experienced and energetic Sales Leader focused on business development and sales management with a multidisciplinary skillset geared towards driving revenues. I have a passion for working closely with my colleagues, partners and customers to build meaningful long term relationships based on collaboration, accountability and honesty.

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As a proven sales & operations executive, I bring to the table a diverse mix of leadership experience. I place culture first, while driving operational excellence across all areas of business.

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Good morning. My name is Julie Warren. And I'm the director of iot solutions for smart infrastructure. At Microsoft, Canada. I help public, and private customers accelerate, their digital transformation through Internet of Things. I'm very happy to be moderating this panel discussion on Tales from the Frontline. How buildings are leveraging Azure iot and iot. During the next hour. We will be moving from theoretical too literal and focus on highlighting iot and proptech examples and approaches from companies who are in the space. First of all, I'd like to thank everyone who

has joined and are watching us live. This webinar will be recorded allowing people who cannot join at a later time to be able to view this, but for people who are listening to this life, we will be taking questions at the end of the discussion. So feel free to use a q and a function to send any questions you have our way. Now, I'd like to request all our panelist to briefly introduce themselves. Adrian. Would you like to go first? So I'm trying to get off the phone with about

25. I can project at the moment. We take an avid interest in the space of product back as we create an attempt to create synergies with new technologies in the residential construction. Russian space. Brighten Elliott. I am. My name is Samuel. I'm senior director of proptech and sales. He ready Solutions. And I primarily work with various stakeholders across real estate, who are looking to employ risk-mitigation technology, specifically, technology as well as potential Channel partners that we work with, trying to leverage our strengths and provide additional

value to our customers. Would you like to go next, please? Sure. My name is Justin grass. Some America's business transformation leader for AXA XL Insurance. Based in Chicago, amongst the many products that access sells. We are very much focused on ensuring North America's top construction contractors. So, pleasure to be with you today. And looking forward to his panel. Thanks, Julie. Hello, Grand Invaders. The VP of operations at one of la for the past few years. We've been creating a software that acts as a centralized holding operation system

for all the technology in a building. Previous to this. I was with Reliance on comfort for for 6 years, Canada's leading HVAC company running all over operations, out of western Canada. I've always had a really Keen focus on understanding the needs and wants within a home. Thanks so much for having me some questions. I'd like to reminder attendees that we will dedicate 10 minutes at the end of the session so that you can provide some Q&A as required. You can also know what your

questions and type them by a button. You must be sitting at the bottom of your screen. I will read these outdoor speakers after our discussion. Now, let's start with my first question iot and protect our wonderful. But it's time to hear from people who've actually employed, technology, advances agent tridel has done numerous of a number of investment into the space. Can you walk us through the rationale behind the decision? Yeah. Definitely. I mean, here at Red all we've always had a very keen interest in technology, recognizing that cuz

it's kind of funny because I'm very stressed, trying out various Industries on a bug to be improvements over the last decade or longer than that, and Ashley constructions. One of those rare Industries, Asha regressed in comparison to other Industries. The commonality that card before is that if you The Illustrated, the stairwell, is that, if you resurrect a plumber, unless a hundred years ago, talk to my job, site. Be able to find his way around job site. Very quickly. Are you would never the say the same of any other industry. Our profession you resurrect a

pilot right now, put them in the commercial, airliner still have no idea how. And that really hits the nail on the head that we recognize that there are a lot of headwinds and challenges facing construction. At that. We are the party. So, we're always looking for ways to increase salaries for shareholders. And I look at technology for new Innovations. Not just changed the really trying to demonstrate value to all the stakeholders in the party. That's great with Elkwood. Elliott likes you a lot right on this. Yes, so,

you know as it relates to pretty much at go, a lot of what Adrian is saying because he sort of hit the nail right on the head there and let that is far as advancement is concerned. I was in the construction industry that's become a big Challenge and it's all so you don't have to respect inspecting ology and then the actual operations, but is also a bit of overtime. And what you're starting to see is a new guard who are very technology-driven, who are very data-driven looking at those markers to sort of form their decisions and help validate that,

you know, the different approaches being taken across the company's are Paving the path into this industry required in order to achieve smart infrastructure out there. A lot has been discussed on the risk factors and how iot can address them. Justin? Can you walk us through what buildings and decision-makers should be thinking and management mitigation. Yes, it's, it's really important to think about it in a very multi-faceted way doing what you've done in the past and in expecting, you know, a different outcome is, is, is not good, right? You need to think about this,

it in it, in a multi passed away in terms of having a risk engineering plan, having Consultants work, work with you on on what you're doing. You need to think about technology is as well. You can't think about just one or the other. It's it's it's truly both water is the new fire. It is a very, you know, simple way to say is it comes to to prop checking in property in general construction. So, you know thinking about how can we help customers? How can we help construction contractors Builders specifically? Focusing on the things that will

change. Change them outcomes, be more productive. So instead of just an incident happening and then learning from it. How can we anticipate those? How can we start to see? Transdata is extremely important and in Lincoln that together in into a comprehensive risk, management program is Key. Well from A supplier perspective on risk management and mitigation. A sure thing, you know, this is a is a very hot topic lately with with risk management. And I think, the key here is really consolidating

a lot of these various platforms and data stream into a simplified platform. So you're not going to multiple places to look for information. Everything's connected in talking and it can really streamline your ability to react Just building upon this Adrian. Have you seen any direct risk management or resource savings as a result of investor II investment at Rydell. Yeah, definitely. We've implemented a number of construction technology. This base, that resulted either direct protection or Resort saving

management building information. Modeling District around really too many to list, but I'll just pick two off that list. So are recently, we've highlighted initiative with Eddie home to active leak detection system on a hydronic water system. And what I mean by that is that we've got very large, dab pipes. And that presents. A huge risk during the construction phase and threw a few strategically-placed valves that were a traitor and link to our Smart TV platform where you able to contain

the leak. That was simulated. This environment, do something less than 1% of what would have actually leave for the building resulted in Castro damages. That was a terrific initiative. Really that we launched church, right on were the rare. Confident in the product and service that he offers us. So that was a great win for us. Another great addition that we recently implemented was a construction management tool and our Consultants, as well as our field stuff up to date with all these new great productivity tools are out there

on the market. They're very popular with a lot of industrial commercial but in the residential space, it's very late to the party again, very slow and adopting these new technologies, but we recently became from sight and I was a traffic validation. I'm talking about people who still uses flip phones are going on job sites for the past 20, 30 years. And that was just a great validation. The fact that we're on the right path there that people believe in these technologies that the Russian had seen the proximity on site. Yeah, that was another great win for us. That's

great in Eliot. What do you think? A lot of phenomenal wins as it relates to organizations investing in technology? And I could list a Litany of basically case studies. I'll stick to one that you know, some folks on Resource Management from one perspective. So, you know construction doesn't always run perfectly and often times. The end result will be an operating environment that may be slightly less efficient, but part of the keys, having the correct points in place so that you can collect data and see things that other people aren't

seeing on site. So we had cases where we found, you know, the mechanical contractor Pipes, make up water line, directly into the frame that's causing, you know, this week 19000, + leaders a day of water going through or toilet flappers broken, which are which are causing thousands and thousands and tens of thousands of litres of water going through on a daily basis. How you're consuming different areas that you haven't ridiculously been monitoring his one really key elements of it. And that also ties in to risk mitigation because you know, by monitoring those same lines going to

Adrian's Point previously, you can, you can pretty much prevent and mitigate significant risks. And we've been in that scenario where a small lines coming out of a mechanical pencil us where we see significant losses, 80 90 minute. We're able to cash and stop those and 30 seconds. Where is traditionally, this type of losses would be hundreds of thousands to millions of dollars in terms of damage. So a lot of benefit to be cleaned in terms of investment that are the challenges discussed previously on on the last panel before. This was, you know, how do you justify Roi on technology

when you're busy getting arrested? Because ultimately, you're stopping, you can protect it from for x amount of time, but doesn't necessarily mean that was supposed to be less or more, and that's, that's part of the challenges. That's great. And what are some of the most important considerations for iot proptech? I'd like to request all of our panelists to please answer this one Brandon. Would you like to go first? And then maybe Adrian? Can you ask her for sure, like I totally agree with Elliot. I will put Elliott just said, you know, the most important consideration right now is

is our Ally. So you're two questions were often a star? Will this technology to help us renter seller units from war and how can this technology help us reduce our operation cost? And another major consideration is ensuring the technology. They select is future-proof and software-based. So this allows properties to keep Pace with changing technology, education, the developers and property managers in this area, given how slow the industry is being to adopt leading-edge technology. And the last thing I'd like to mention is stakeholders. Often.

Requesting a Consolidated, simplified experience for both, the residents and the property management here at 1 ballet. We provide a single app for residents and a single management portal for property management. We find simplifying these complex systems that is absolutely critical, especially with the high turnover rates within the concierge in the property manager positions. Yes, if I can jump on that, I really like, or what Brandon said is there is no, I really resonate with sentiment. I think our eyes definitely was there. Instead

of just confine it to directly, impacted the direct correlation between return on your investment. I think there's often times more broader implications and ancillary benefits implemented certain Technologies of State. For example, we can sit at a home on already Solutions on a leak detection devices. There's more than just how much damage could have caused the residence. There's a delivery. I'm used to that November people on hotels in being evicted from your home, because there is a remediation work that's required there. Now.

There's a lot of ancillary benefits to technology that aren't immediately quantifiable. Stay with me was how the way you look at Google home. And I'm on the mantle shifted the way that people engaged with that technology and some by providing very seamless integration into these these through voice command, it revolutionize update, because before or much more ready to adopt that technology and Technology needs to be ideally seamless or invisible to the user ID. Lee, you really want to be able to have a statically identify with what the user is. The struggling

with where the pay points are resolved, the issue while stay in the background. So I like to think of the best technology. Like I said before is being invisible. I think those two points are very important factor in Valley Prep that granting in space. Absolutely, just north of you. A couple of additional considerations for everybody to think about, you know, a person. First off is just thinking about that the cybersecurity peace to this. When you, when you're selecting a new technology, you have to truly understand. You know, how mature is, is the company we've done a lot of

wedding at XXL, to determine, you know, which, which companies are are mature enough and ready to handle our, our large commercial customers that we can feel comfortable, you know, sharing and curating, that list list with. So I wouldn't underestimate that. I think it's important. I understand just how old is all this works. And in the second piece is is around r o. I number one, right? That is very, very important. Also is important is to have very clear, use cases of of how the technology or service has worked before. I think that's a big struggle, where

you see a new technology or very Excited and you and you see some some numbers but but having that personalization of of well, how is it's been used elsewhere. What were the outcomes from? It? Really goes a long way, I think in terms of adoption and then if that that buyer has a good experience with it. They're going to use it on other other jobs, other buildings xcetera, but not having that that, you know, true use. Use case connection makes it a much tougher sell to consider, you know, this being an additional line item in a budget.

Absolutely in Eliot. Would you like to add something here? I'm, yeah, I know, you know, just the sort of echo Justin's point. They're all really comes down to you skates and Roi and being able to justify implementing this technology and part of the challenge to his, you know, we doing with it everyday in the marketplace in that case, studies record data and bringing that to customers. But at the end of the day, when we often see his customers, still want to touch and feel and do them selves in order to validate because I don't

trust things, because there's so much noise in the marketplace, which is another big challenge, right, now,, especially in the wake of covid-19 with technology really being at the Forefront of everybody's Minds. Whether it's from us, business operations perspective, or whether it's just trying to live there. So that's been, you know, I would say that's definitely a challenge but it's something that is worth the pain. If you use case is pressing enough for you, as an operator is instructor because ultimately, Alternative is being reactive after the fact. And at that point, it's sort

of like the definition of insanity of doing the same thing over and over and expecting a different result. Thank you so much for sharing. All of your thoughts. It's such a great exchange of information and ideas. You know what I'm taking from this dialogue is that, you know, the number one priority is finding that in a return on investment and having some clear use cases. And I really like justice point on security of the products that that certainly helps, you know, getting adoption in the marketplace and with the ABC industry and of course, the seamless list of a product experience,

very very important. And having it be simplified both for the end-user. But also for the operator and another aspect that I really enjoyed hearing about was the education that is required in this in this space because there are the early adopters and then there's the late adopters. And so I think by providing Serious cases of their strong are why. It was very easy to get more doctors in to leveraging these types of Technologies. My next question is for Justin Investments. And Roi on technology is a big consideration. How can companies approached? The r y question. When

determining if the investment can be made So I think Elliot's, so really well in terms of sometimes you want to try it for yourself. And and the approach that we've taken with with. Our insurers, are our customers is to conduct Pilots around different Technologies. Sometimes just for 90 days, doesn't have to be a very long time, but it would truly getting an opportunity for a customer to experience that the product of sauce and start to see what benefits that they see for for some technologies. 90 days might not be long enough, others others. It is

summer choir, you know a little bit more of a long-term application. But but ultimately you to give me that experience and we've taken multiple approaches with that. Sometimes it's it's helping the client with what to do with the date of this coming out of the system. We got tons of data science, folks that work at a taxi group that we're happy or are happy to help. Sometimes it's it's potentially co-funding a Technology that we're both curious about that. We think can help our larger customer base as well. But I couldn't look at it. In terms of you don't have to make a huge

investment in all cases to get that experience. Understand for yourself from an Roi perspective. You might be able to do so in a more limited way to to experiment and then and then go from there. And branded. What would you like to add to this? I'm going to want a few specific examples. I'll see if I can add a little bit more context to this. So, our technology of one ballet, for example, can actually help eliminate the need all together for an on-site concierge,

or the very minimum, help them be more efficient at their job. So this becomes a simple equation of how many hours we save property Management's time versus the cost of our technology. And I would touch on is smart, door locks. So, either locks that work with Bluetooth or a. And by installing these locks on a sweet door. It eliminates the need to rekey a unit every time someone moves in or out or of course if the master key is lost and he's freaking cost to be a major line item every year. Another example, I would I would touch on as a

measurable benefit. Is the integration of a, of a smart thermostat. So when looking at Heating and Cooling cost a smart thermostat can save up to 20% of the total cost and unit, which is quite significant. And lastly, having you control Harmony remote control. I should say, I'm an access control system. Allows property managers to not have to send someone to site every time there is an incident, or a service call. So instead, they can grant a digital key or remotely open the door without having to meet that contractor on site.

That's great. And before I ask the last question, I like to remind everybody that we will have a Q&A session after this. We will be munching to chat for any questions that are the participant might have for our analyst and if you still have time to send those questions, then please do. So in the Q&A section. I would like to all the speakers to your answer. One question. What's your biggest piece of advice for companies approaching iot and project will start with Elliot? And then we'll go off to a Adrian. So I'm going to maybe just start off

by tackling the point that I I erase previously and that there's a lot of noise in the marketplace right now. There's a lot of Technology out there and it's very important for those that are assessing that technology to be very conscious. A note to justify, previously, used case ensure that your dress in the freaking use case. So, what you're trying to achieve, because there's a lot of nice to have out there, but then, there's a lot of ways where technology can enable us to know, to Brandon's point to save money, as, as operators to avoid, in the mitigating risk

on site. But in addition to that to ensure that you're doing it in a cohesive way, that is Guided by your core principles as an organization. In what year, you know, your financial strategy is, what's your IP strategy is? Ensuring that there is, you know again, 8 simplified and simple place by place for people to interact with Building Systems weather can be front end or back end. So that on the operations side and user side, people aren't bogged down by having to log on to a million different platforms and deal with no need to find

gateways and things like that. So it's all about the power of great organizations. Really coming together and finding what fits into what your objective is and what your you stay cesare. Brandon, would you like to add to this? I completely agree with what Elliott said. In my biggest piece of advice, would be to think, long-term. Not just what the market looks like today. But invest in a software first approach that is future proof. So, in new construction,

this is especially important given how fast technology is changing decisions on integrating top Tech or made Austin years in advance, of course, occupancy. So decision-makers need to think not, you know, not what the standard of technology is today. But what will the standard be? When your residents are actually moving into their units? And with a software first approached, stakeholders are no longer at the mercy of outdated Hardware Hank in, future proof, their buildings as an example, one Dale entry console is completely software-driven and can be remotely updated

instantly over the cloud. So this means that as we improve our software, Launch new features, the product that developer or property manager buys today will continuously improve without having to swap out that Hardware itself. That's great and Justin. I'll provide a little different perspective is we started to do pilots with construction customers attacks XL. A few years ago. We came away with a whole series of findings that were consistent amongst them in. In the number one finding was

we're having a hard time. Whether this is a large construction contractor or a medium or small sized want a hard time figuring out which technology to select Inn in. Then There are a million other questions that go beyond. That's just how much do we pay for it? We actually released today, you can look on my my LinkedIn as we launched a construction, ecosystem Tech Library. What that means is the place for the public to go, not just XXL customers to to look across different business challenges in the construction industry. And in look at different Technologies, a week, curated and put

into Library. We've done that either by Pilot in these Technologies or talking with enough, enough of our customers and collecting enough data that we feel confidently, putting them in in the library. Why do we do this thousands of Technologies out there in in none of us have time to go through all of them and in make the determined enough to make a determination just didn't water infiltration alone. We interviewed 14 different companies that are focused on Commercial application, commercial construction application, even that I think is too many for most.

To go through and in make a determination on around. So we're trying to help with that. You know, our philosophy is is not just to provide insurance policy to be a partner in. This is an area that we clearly heard from our customers is challenging and it's something that is it were very much focused on in the go forward to provide of you and of these types of solutions. Fantastic, this is been super and lightning. It sounds like there's really a large opportunity to create impact in the architecture engineer construction and property management firm

white of business. Have you thought about how technology will be able to play a role in being able to track new talent and new generations into construction and do property tax? I have, I think, you know, there's so many smart people out there, doing you to some very exciting things in and I liked it even a recent experience with, with covid-19 month after the pandemic began. We started to see solutions that we're geared towards response related to this in terms of applications that already

where on the market. But now they're focused on social distancing contact, tracing excetera that are completely applicable to the construction market place. So that while it does extend beyond property, I think it really shows that there's a lot of talented Folks up there and it's been in the industry continues to attract very talented folks. Some of them I see are coming from you know, the complete construction background others are not but I think that's where it gets to be really interesting. Is these aren't old ideas. These are new Innovative ones that I think people that have

industry experience can help mature. In the very, very short-term. Potastic. If any of her attendees want to connect with a partner organizations that are participating this panel, please visit the trade show booth in the exhibit hall and the main lobby company Representatives will be happy to connect an answer, any questions. Let's see some of the questions that we have from the audience. Is it clear? Who will be responsible for post installation, support and smart buildings? Will it be the building owners or facility

managers? And when want to take this one? And maybe I can jump on this one. I think it depends on the type of building that we have is, well, whether it's an asset owner, or whether it's a kind of bored. I'm generally speaking Trail builds buildings for the most part, and we have the form, but there's also a chair warranty chair that extends all the way to seven years building itself. So if there are any issues typically is covered by the cardboard. In the case of an asset manager, it's a good, they would

have professionals you would take care of that appointment, as well as for the building and the type of building, really changes the ownership as well as the maintenance of that piece of technology. Great. Do you think we should have and I would take him in early or some sort of strong community of sorts where people can access knowledge ensure, learnings with each other, when it comes to doctoring, I would team buildings. I think the simple answer is yes. I did people want to learn. I think people want to learn, they want to contribute, they want to hear with their peers

are doing and then that's something that's been very important with. Our customers is getting them together. We've got one of our folks. Her name is Rose Hall. She's leading a bunch of our customers. Touratech. Top is every month. We take some different Technologies, bring them to our our customers in and let her customers get exposed him and ask questions in front of their peers for me. Personally. I learned the best from listening and learning from, from my peers in the industry. So I think the more opportunity that can be created around that, the better people will show up and participate.

I agree ends in an adding on to that. I just seen what I'd say is, you know, we're all in this together. It's it's still in New industry and were you know, we're all learning together and you know what your success is our success and vice-versa, so we should be helping each other out where we can share our knowledge, solar panel like that would be fantastic to get a lot of bus ticket holders participating in such efforts. How do we differentiate between physical risk, mitigation and cyber risk mitigation? I would take an open us up

to risk if not managed properly. Just so you kind of elaborated on that in terms of security. Can we talk a little bit about how I would she's great, but without the technical expertise in-house, you do need Partners. Who can help ensure cyber risk is reduced. Yeah, I think that you know, there's there's a lot to expand in there. I'm sure other panels to be would be happy to come in as well. I would just say, you know, one of the things we look for is obviously maturity of of the particular company. What it is? It they're going to offer it in the

marketplace. Are we the first ones or or have they or do they have some experience? You know, any any company that we specifically partner with? We do we do look at that and in some ways I think that's very important in our customers do as well. Anytime. You're letting you know, somebody or something into your, into your environment into your infrastructure, that can be a particular challenge at risk. So it's not one to take lightly, you know, if you don't have the expertise on your team. There's plenty of of companies in Partners. Likely your Ensure

your, your broker. Whoever you used Mariska, insulting perspective. I'm sure I'll be more than happy to. To help guide the way through some of those more difficult questions. It's it's I would say one of the number one, questions we get asked here and we're talkin to developers is how can we ensure the security of the data? You know, you're the one that way we could all start products in the ground up with, with the cyber security in mind. Everything. We do is Bank level and Corruption are. Our cloud is Canadian, is there. And we're actually been hiring people hackers to come in and

test a stress test our system. So I encourage everyone in the audience. Just, you know, if you're involved in this and Technology development in this space. You need to have cyber security mind since day one. And I just want to go to the sentiments for as well for us at trade all. This was top of mind for us when we deploy these out devices and Technologies working with one ballet. We actually also hired an ethical hacker on our side to take a look at some more buildings were waiting for these Solutions. I didn't see if there was any way we could penetrate that and thanks little

Rails Bridge, all the gaps and passed. All the holes that was in the system. I'm so it's, it's it's imperative mean. It's very relevant to our discussion special with what happened with sidewalk labs are in Toronto. I think this was the hot topic for the residents of the community and the communities around here at the WhatsApp application of Fabian to all these different devices, right? It's really all these tentacles. If you will be expanding into different devices, whether it's elevator smart door, lock for a thermostat available security system. I'll say it creates a lot of

different exposures points has great benefits, but it's also important to look at some understanding. What kind of sports are we? And how can we purchase Stock app? Just the sort of echo a little bit on, everybody's fine, steer, you know, at the end of the day to Justin's point when it comes down to Market maturity and also maturity, the organization's all the time. If an organization within the project space is going to do some really meaningful business. They're going to need to meet certain requirements. You know, example, ISO certification is one, One

requirement that a lot of insurance companies will require in order for organizations to work without an understanding of Platforms in the technology. That is also really important thing as far as understanding the risk, right? Because if you're using certain networks, which are less secure, you may put yourself at significant risk. Is everywhere is, you know, sort of what's going on across. Our society is a whole social media as a relates to everything that we pretty much do in our daily life. We're giving up a certain level of privacy in

order to have more convenience. Different points and so is it's a very important? You do you have to weigh in weight loss, balwynne balance. Those risks owed. Quite clearly before embarking on on making that decision and ensuring that from my privacy perspective, as well know. Where is that company store in their data. The random point is everything in compliance with Privacy Act, but feet up. Are they storing? Their their information in the same geographical region as your services are taking place and how susceptible are you two to really get an F in those scenarios? So

ultimately it what it comes down to having a holistic View and understanding what it is. And there's a lot of organizations out there that can help to inform and educate various stakeholders on what they need to do in order to One more,. Do you know developers construction companies? Excetera need to understand the reputational risk of this Associated? If something does go wrong, right? So it's something to take very seriously because you could damage your reputation which is which is a tough thing to the comeback from Technologies not going away. So it's not worth

having a a breach of any kind, whether that be a personal or commercial side. Great breakpoints. Everybody if your contractor like, how does the contractor get started to discover all these new technologies to help and reduce risks to provide value to their customers. So, I think there's a lot of different resources out there. One of them is attending forms like this. I take it kind of helps points yet in in, in the right direction. I'm taking an opportunity to talk with your your

peers as well. You know, I'll plugger AR Tech Library, one more time just because things such as that which is a bit unique. Gives you an ability to kind of see your curated lists to help you get started. But but again, I highlight the importance of thinking about a pilot. You Don't Have To Go, why'd you don't have to go deep to start? It's it's really a matter of of I think personally, what is your biggest business challenge? What are you trying to solve for and focusing on one thing first, especially for small to medium-sized construction contractors who might have had a large

budget for iot Worth or things at this point? Great question for Adrian. When you work with emergency Solutions providers, have you experienced any pain points in terms of seamless deployment? Given that the solutions of cells was still somewhat in development. How do you manage that? Yeah, definitely. Of course. It was a boy when we were on the on the Cutting Edge. It's a fine line between be on the bleeding edge, versus the Leading Edge of the like, a share of scars on her back. And from this point, all these

emerging Technologies. One of the things that we do to mitigate that risk to justicepoint Pilot. These Technologies on the leak detection side with the building post on a small scale again, to risk. But to Brandon Point roller. We've also shifted in the way. Don't avoid some of these emerging Technologies by taking a look at it from The Hangover the software deployment. So, I am one of the things I track is this one ballet with the fact that it wasn't properly or hardware-based solution because they're so long from acquisition.

Is it twice? And so one of the otherwise we can mitigate that risk is by taking a more Nimble approach to it by looking at software-based solution. You're on mute, Julie. Dustin. You mentioned covid and I'm hoping you guys can a span on this, how will covid-19 change the way we've been taking about preparing for a smarter homes and buildings. What will the top concerns before Building iot Solutions in your opinion? Go forward. Yeah, I would say that everything is just moving faster while because of covid-19. Some of the

adoption adoption especially is moved much much faster than what it was before. I thought things are moving along at a good clip. And like I said, you just find more and more solutions. I don't think it's just, I think it's not just covid. It's, it's bigger than that. Right? I think it's people recognizing that there is technology out there that can help them, that it's going to come at a very quick pace and that they need to, to really think about what they need from a from a future perspective versus just their needs today. So think about applications that are

are expandable where they combine different different, you know, different problems but a, but above all else, covid or not. Any any solution needs to solve those those business challenges. It in some way I can. I just be about one specific thing. I think for that device or that technology to be successful in the long term. Great discussion so far. We're getting so many questions and they're in the river that it's hard to pick which questions to ask. So I think everyone for such a strong participation this. What I really like this question, how can

technology provides value for property management and staff on the operations side, but what about the tenants, like, is this technology? Something that tenants are asking for? Are we using the technology to attract customers to come and live in your facility in your buildings? Do you think it's going to be a competitive Advantage when you're going to be trying to sell new projects to new customers? Yeah, I'll take this off and the simple answer is. Yes. Absolutely. We we we have the tenant, the resident in mind, helping all these features. I'm in fact that when we

sell to a developer on the first things were asked is Canby power, their sales Center. So we are putting in a bunch of our technology, in their, in their sales Center and the feedback. We're getting his yes. It's helping them. I sell, what the future of this building is going to look like but residents are asking for is a Consolidated experience, right? How can we communicate better with property management? And how can we interact with all the smart features in our unit through one platform instead of five apps? Let's have one app and that's what we're trying to accomplish here at 1

ballet. So absolutely smart features are, are are great for building operators, but I think just as strong for the rest in. Peace. Don't jump in there, too. I think, definitely. I mean that's why we're investing so much into these platforms, like one of my life for you. But everybody seems integration of different programs and software application from. We're definitely seeing you not Rising like a serviceman back. If you look at the fastest-growing amenity that were offered right now, I would say that the parcel delivery system, and that's largely, because of the rise

of e-commerce, you know, we've got buildings, birth and date of a package is from 152 all the way to 20 packages per day. There simply is no room to store. Those parcel package has in store for us. Not even the retrofit Market, there is great application for one ballet that ties into any great experience, starting from their Entry phone system, which is the scanner built into it as a parcel and takes it all the way through the worst thing. A tremendous growth in that market is no longer but it's a bricks-and-mortar in terms of constructing these beautiful Museum pieces of dining rooms at

party rooms and whatnot. It's also like I said earlier How does a homeowner engage with no spaces, you know, we're spending a phenomenal amount of money is driving and using any spaces. But if they're not being used in the first place that you begin to question. Why do we spend all this money? Right? And I think if we can use it to like what they forgot bowls, and gauge the homework, and Ashley, using those spaces. It's going to create. Much more Galley for the, the tenant, the resident ultimately. Great Branson, how do you all think that were you're close to being

to getting a centralized smart building platform. Do you think it's realistic to expect this to continue being multiple system for different purposes from the operator to the tenant unit? That can communicate with each other? I'll take that off. I mean, you've basically just described, you know, why we've created one Dale, is to centralize these systems and and, and take a software first approached. The short answer is yes. We are not only very close but we're over here today. You know, we have CCTV access control Smart thermostat, smart door, locks Entry phone systems.

The list goes on and on already integrated into one platform, to know what the software first approached, what allows us to do is keep Pace with the changing technology. And if a new player emerges in a few years, who has the best door lock that we've ever seen, we can make that partnership and and integrate with their, with their software, you know, which which really allowed to be quite nimble. Great questions for Elliott's. I'm haven't heard from you for a few minutes, but are their challenges presented. Once we have iot data, they've collected, like, do we have difficulties aggregating

data or data being available for analysis to the right people for Speed of access? I'd say that all depends on the platform in the technology that's being deployed in place at what it comes down to is no we're dealing. Now in an age where there is immense amount and part of that challenges. What are you going to do with that data? And having a clear understanding right at the outset before you reject is Arwen York. Apis are and what you're trying to cheat. Otherwise you can get lost in and

I did not see your data that's completely irrelevant to you. So what's really important is to have a really targeted approach and what you're trying to achieve to make sure that you have really clearly Define metrics on what success means and what you're really looking to achieve and what you're looking for and that that's how you're going to be able to leverage, the appropriate data, either justify yusuke's or invalid. It. So how do we look at pricing models for actively changed. Me the future proofing and Technology Innovation, because obviously technology changes fast.

Some of you have kind of, you know, talked about how the technology will continue to change and then end the adoption will change as well. So, how are we address and pricing models? So it's a great question. If you guys are mine, all sort of Kick this off part of part of the issue with the end of the day, isn't even really, you know, addressing the price has your pricing model needs to be adapted based on the asset classes that you're dealing. That's that's the first thing. But after that what it comes down to is there's a whole bunch of other external challenges to the point

that is rain made earlier. When you're implying technology rightstart, you putting it into a suspect, by the time you actually get people inside of that. Building, get that building operated is a good chance. That some of that technology maybe had to put it and hold the same time. There may be eustasis which spring up between that 223 year construction. Let's say that need to be addressed and we've already established budgets and place that need to be either adjusted or changed on the basis of Technology. Structural issue a new technology in that when you might be in the last day at later

stages of metal. So I had to read that part of my, my two cents on there, but I'm sure Adrian could probably contribute quite a bit of this. Yeah, I know. Those are great points, Elliott then I think that's the right way of looking at it as well. I always offer a couple of caveats when we, when we talk about our eye or anything's natural. I think you have to take a broad. Look at it first and not just with an immediate impact. As in terms of the correlation, because many times, there isn't a direct linear correlation between the return on the, for example, if I were to, you

know, pulled the audience asked what's our productivity Improvement. Would you see in terms of using the park sauce with product? I think a lot of people really struggle might be able to quantify the exact. Number know. I can't stand with 30% more effective because I've got access to Outlook or word or Excel. At but also reveals a lot of inner bicep is that we have when we're looking at construction, Labour productivity, Improvement tools. So it's strange that we look at it from such a narrow lens. When it applies to a different environment of objectivity. I guess.

Is that enhance productivity example, one of our labors requires a chipping gun, you would never question why, you know what the return on that stupid piece of investment is versus using a hammer and chisel. Generally. They're just a mindset that use the right. But one of her late. So software productivity, built there. Immediately called into question. You'll what's a r i on this. You know, how do you know that for sure. What's the percentage of likelihood of that? I should have

it and it just seems like there's a heavy bias away from software applications and tools and I always just called to question though. What kind of lies are we? Look at this 3, do we have that broad perspective? Do we have any inner biases that were you don't work? We're look at this through that lens. Thank you. I mean, I would just say it is amazing points from Elliot and Adrien pictures of the pricing model himself trying to add as much value as possible throughout this entire process.

Your Trail. For example, the package that they purchased from us, devolving everyday and we're not going back to them. Trying to say, you know, how, you always know their dollar a month. It's not like that. We sold them. What we call an NDP, a minimum viable product, or some of these features, but we're actually going to liver went to knock that out of the park. And that's just some of the value-add we're bringing and I think that's great for the industry is great for future business. Great, I would add I'm try to understand what it is, you're buying and what are some of the costs are going

to come down the road. If you're not sure ask ask a peer ask another company that may have done in a business, get a referral become educated at it because I think that's always the challenge. There's always, you know, there could be a surprise Factor. You can do a lot of simple work to prevent some of that surprise Factor. Fantastic. Thank you so much for all your contributions today in participating. It's been an absolute pleasure. I'd like to think all of the participants for taking time out of your day as well as our speakers and panelists who shared her

experiences that and they're wonderful insights for me, and everyone has been listening. We've all learned quite a bit from this discussion. The Next Step will be starting at 12 p.m. Eastern time. It's an innovator pitch competition. Featuring free tech companies, and I did include execs Executives from PCL Construction tridel Microsoft in the IRT space, which will be myself and then proptech at industry. Will then announce the winner at the end of the day, so we want to wish you a wonderful

rest of the day folks. And thank you so much for participating. Have a great day. Thank you.

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