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IoT PropTech Summit 2020
November 19, 2020, Online, Canada
IoT PropTech Summit 2020
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The Future of PropTech – a C Suite Level Discussion
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About the talk

IoT PropTech Summit 2020 : Panel 5

The biggest trends in IoT and PropTech.

About speakers

John Mollenhauer
President & CEO at Toronto Construction Association
Mark Bryant
Chief Executive Officer at Latium Technologies
Kathy Paul
AVP Workplace Solutions at BGIS
Michael Platt
Chief Executive Officer at Carma Corp.
Scott McBrayne
Vice President Operations at Peak Power Inc
Travis Allan
President & CEO at Eddy Solutions

Sit on several Boards and serve on the program advisories for a number of Ontario colleges and universities. Honoured to receive a fellowship from the U.K. based Chartered Institute of Building in recognition of significant contribution to the industry during my 35 year tenure.

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Dynamic and experienced executive with a strong track record of conceptualizing, developing, implementing, managing, and marketing technology based business solutions, gained through hands-on and leadership roles in the financial services, software, engineering, manufacturing & construction sectors. Superior innovation, analytical and problem solving skills coupled with strong team leadership, passion to succeed, and technical knowledge has resulted in continuous success and accomplishments.

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Designed and implemented a strategic procurement program (including technology) ✯ Senior leadership for the Implementation and managed new National Service Centre ✯ Senior support for the installation of continuous commissioning platform (Energy) ✯ Senior support for the implementation of new Preventive Maintenance Platform ✯ Completed spend analysis and developed strategies to reduce spend by 10% ✯ Established and documented 26 Operations National Standards ✯ Established industry leading elevator service KPI’s

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As a driven executive and entrepreneur with a unique combination of experience in founding, growing and expanding a consumer product and service business, I orchestrated a successful liquidity event with an acquisition of my company by a large US Private Equity firm. I built a start-up into a national consumer products and services company with over 400 employees. I advocate an engaged leadership, having actively built and fortified collaboration, loyalty, and engagement with 10+ direct reports and extended teams of up to 350 resulting in fast-track business expansion nation-wide.

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Good afternoon, and welcome, everybody. Nice of you to join us this afternoon. We're excited about the next hour to talk about the future of proptech. We have an extraordinary group of people with their considerable Brain Trust. So we'll have some fun with that. My name is John mollenhauer and I'm the president and CEO of the Toronto construction Association. And for those of you that aren't familiar, we are Canada's oldest and largest mixed Drake, construction Association in Canada, a little older than Canada. Actually, not

really 1867, but we've been at this for a while. I am excited. I'll introduce the panel or I'll ask the panel dinner, do some cells. And just a moment, just a little housekeeping. Before we get started. You will notice on the bottom of your screen that there's an opportunity for questions. If you and a button and we welcome questions will try to get to the mall if we can and leave about the last 10 minutes of our. Our minute to answer question, as you know, we'll be talking about the future of proptech

today. We've got an incredible group of Executives, very knowledgeable collectively and individually, so I will start, I think Mark with you to introduce yourself and we'll just go around at 6. Hey, thanks a lot John for the introduction. Good afternoon. Everyone. I am Mark Bryant and I have the privilege of being the Chief Information officer of Peace Out Construction. We probably operate in Canada, us and Australia in the building's civil and Industrial markets and so far today. I hope everyone's really enjoying the day, the conversations. And I'm really looking

forward to this one and hope the rest of you are as much as I am. Thank you very much. Mark. Kathy. Can you introduce yourself for us in Canada management company that focuses on? Providing our clients with Services related to building operations in some unique services. Like what I do. I've been in the industry about 25 years. Now started my career in interior design and today I work with the executives Consulting, the c-suite leaders around. Pelican align their workplace with their business objectives and goals and culture. We've seen definitely an evolution in the

industry, that relies much more on technology now than ever. And we're striving to provide that data driven solution to the border of plants and their strategies and solutions. Thanks very much for having me today. Afternoon, everyone. My name is Michael Platt on the CEO of karmic or as background. Karma is a national sub metering Solutions company manufacture and Supply utility submeters. Whether its electricity water, gas, and thermal to Commercial and multi residential buildings. And also provide a

monthly billing solution or platform to our multi residential buildings. Today. Our head office is located in the Charming, town of Lindsay Ontario, which houses are manufacturing sensor or call center in our Innovation Center? Russell, very fortunate to have a team across the country. Whether it's account managers or field technicians in Vancouver and Toronto in Ottawa or really excited about our industry. As well. As I was seeing process faces at work Junction with semi during like Eddie and I guess there's my one plug for Eddie Travis so you don't get

here. Ascot. Good afternoon, everyone. I'm Scott mcgrane. I'm senior director now. So operation search Services located in Toronto for Cadillac Fairview for those that don't know. Cadillac Fairview is one of the largest Property Owners Developers for best-in-class office and Retail and mixed-use properties. In North America. We have the boat Thirty billion dollars in assets across 35, million square feet, in 69, properties in class and Canada. You might recognize some of our properties trying to Dominion center from Green Center, Pacific Center, excetra. I'm

very fortunate to work with some of these companies that are on this panel, as part of our technology deployment across the properties. I've been in the industry for 30 years by Merrilee Cadillac Fairview started at property been in our Technology Group and other corporate offices. Thank you, Scott and last but certainly not least Travis. Thank you very much. And thanks Mike for the Shameless plug. Much. Appreciate it man. Just let me just want to thank everybody for taking the time out of your busy,

schedules to experience this great event, alongside 80 Solutions, and so many incredible companies. My name is Travis Allen and I'm the president and CEO of a Solutions. Solutions is a manufacturer of end-to-end action and control Solutions as well as a service provider of water damage. Mitigation Technologies focused in North America. Eddie Solutions. Eddie's Solutions are applicable in all asset classes that being said and he has deep focus in the high and low rise office residential, as well as institutional assets, such as hospitals, and government buildings. Thanks, John Travis. That's

certainly a formidable group to tackle a difficult nothing and I'm excited to get started, Kathy. I think I'll start with you. We're going to start with a general question. Just in recent years. What trends have you seen in iot and proptech? And maybe you could share how to say? There's probably three that come to mind that I've observed, the first being health and safety. The second, anything rationalizing space or energy as well as employees. So the first thing health and safety who sings, It's really interesting because

this was once something that was sort of a wish list item and is now being moved to the muscalus with covid, of course, in covid management. Every CEO at this stage is asking the heads of real estate to rationalize space as well. And that means, you know, they're looking to reduce costs. They're looking to any Technologies. I can help them rationalize space when it comes to utilisation your measuring space understanding how well utilize space is so that they can make wise decisions about that rationalization as well as energy consumption. So cutting cost on energy used through energy

reduction measuring energy, use and under the flying the outliers where they can find Opportunities. And then the last, of course, the as I mentioned earlier, is that set workplace experience the technologies that drive the employee experience and efficiencies in their day-to-day activities anything that they can help streamline processes and improvements as they move throughout their day. Those are the three key areas. I've seen priority in Project. Thank you. Kathy. Greatly appreciated, Scott. If you could weigh in with the Cadillac Fairview perspective

and I guess from our perspective again, you know, we're looking at. How do we automate some processes? Whether it's around energy, you know, we certainly even water mitigation today not to give a shirt at Freddy to respond to and I'll try to figure out how I was going to support those in, in react quicker and more effectively to the issues and whether its energy as we talked about and the other piece, I guess. We heard about from the client's perspective of her employees perspective. We look at it from the

tennis perspective. How can we create alcohol? If, you know, you probably Heard this buzz word of frictionless, environment from the moment of people leave their home to the, get to their office and then leave. How many barriers do they have to face in order to get into that space in from the parking garage to the elevators to access control. So there's a whole push on, how do we remove those beers and creative fiction environments in overall trading, a better client employee experience. So that's really some of the big things that

are driving. Obviously covid-19 is pushing us quicker and faster as we heard about health and safety, air quality excetera. How do we know that a space is clean and safe for us to work in? So there's lots of movement and great Innovation, Justin, you know, less than a year. That's hitting the market and and very, very impressive. I just got I just changing gears for a moment. We we certainly all love to talk about this. Ruption and there are many disruptors in this space. What kind of pressure would you

say Michael? They've had on the industry and Amanda follow-up question. Do you see what's happening as more of an evolution or a revolution? Take me to the easy questions. I gave you a little bit differently. I view in Industries like the construction industry or the insurance industry and industries that are experiencing tremendous, tremendous challenges, whether it's labor, shortages, increase, safety, concerns, increasing profitability, and it's these pressures on

the industry that are there also meet Lee resulting in Opportunities, may be. Another way of saying is none of the disruptors are actually leaving the pressure, not necessarily putting the pressure on and I think a very timely example which would Kathy mentioned earlier is the introduction of solutions to address covid related concern. So take the recents, you know, emergency covid-19 of the past nine or ten months building manager. Have all been forced to reassess, you know, their floor plans, how individuals will enter space.

So we seen lots of new, you know, technology. And I just dropped these, these places like space, when they control Lion, King set, who's done it, incredible job utilizing both spaceland. Technology hours for the second question, which is in the midst of this to continue to Evolution. And when you look back over the last 20, 30 years, leading up to 2,000, we saw lots of businesses, you know, who start to use technology and driving, very analytical quantitative approaches to investment. And then in

the. Mean in a few thousand, 1040EZ benchmarks stop the rise of internet and information. So realtor.ca a space and then over the last 10 years as you know, smartphones, which we all are holding, probably side-by-side. Although we shouldn't be really nice way to the market and now you pretty much can do most things from your phone. Let alone a computer. Whether it's secure a mortgage or or buying a car so they could walk there and then looking forward and I think it's just a continued Evolution, whether it's locked chain. And in fact that it will have an industry or

have smartphones will evolve over time. I think it's just a really bad, and regardless of where you sit in the ecosystem words using these conversations, but whether you're a developer a builder and innovator, an occupant And yours are really going to be exciting. Certainly agree with that. And we're certainly entering, a, new era of Rapid change Kathy. You were talking a little bit around this subject. But do you see things moving from Evolution to perhaps Revolution, as we talked about

disruption and the impact in the space revolution has done more to help change organizations than any c-suite tack or innovation leader could have done prior. We've gone through two to two to three years of change and only three months for some organization that DJ is, we've always had a focus on practical. I'm going to say. So we develop apps that make progress towards these. Big changes in a manageable way, is very practical, approachable way. We seen some challenges for organizations prior to this where they

were looking at maybe measuring utilisation or supporting energy. Consumption. But the real driver at the c-suite, level is coming to town and spokes are now jumping to find and understand better, how they can Implement some of these Technologies in a very quick way. Take some of the Big Ideas break them down into measurable steps. That's our approach. So, that practical Innovation folks are looking for. Most of our clients want to progress in this direction, but they don't want to be the bleeding edge. They want to follow somebody who's done it before. They're looking at, you

know, who's done it. They have a lot of requests around, you know, can you give us examples of where, where the organization has done it or that organization doesn't matter? The sector of the industry. We seem a little more interest from the hydro industry than we've seen in the past. You moving into these new ways of working of launch the need for technology. So I agree with Michael about the next five years. I have to say, I think we're going to see more in the next five years than we've seen in the last 50 when it comes to project. That's for sure. Thank you. Kathy. Michael.

Sounds like you've stimulated a little debate here. Travis maybe as you way, and you could give us a little bit of perspective on some of the more traditional Industries Michael Manson construction and insurance and a n. N i o t changing knows more traditional Industries disruption. And that type of thing can be perceived as a negative. I actually am 100% in agreement with Michael of saying, I think you know, I'm up. I'm a Believer in luck on the basis of preparation meeting opportunity. And I think in

Industries where you no disruption was identified before it was in a different area of, let's say, you know what? We're facing iot Mei, Mei on an operator of Oatey company, so no we're seeing a lot more around. You know, it's a lot more fragmented. There's not as many, you know, incumbents are big, big companies that can really throw the weight around to make it painful for some other folks out there. I think you do opportunity. You know meeting preparation is is a key points. And what we're seeing, what we're experiencing as a company ourselves, is if you're well, set up and prepared

and focus on what's going on in out in the marketplace and you're focused on you, no pain points that are meaningful to these companies. That's where the preparation needs the opportunity. So I think Michael spot on what he saying there and you don't, you know, fortunately enough for those who listen again today, if they're in the prop Tech business, which I'm sure they are that laser focus of preparation to kind of get get in the game. With some of these larger companies has been the defining for us and space-wise were seeing it and I mean work out of an insurance driven product to a

certain extent. So we're seeing what have been quite a bit of tail wind right now. Relates to what our solution is being driven and adopted by the insurance companies. It won't be any fun. If everybody agrees with Michael construction, industry, charged with trying to move an industry that has traditionally been slow to evolve. Understand iot and be impacted by it. Proptech new technologies. What are your thoughts? Well, if you're talking about Evolution and Revolution, I really agree with

what Kathy said earlier. There's nothing like we were getting a, a great crisis to get Tech adoption going. But that being said, the business of construction is is utterly complex starts, you know, from designed architecture engineering and us as a builder and PC l&n Building owners and and getting married to a next-generation technology ecosystem that you all will take an extraordinary amount of time because of the complex, the in the construction business has really focused on of altering its iot during the course of construction with our job site in sides, but we're really focused

on establishing strong Partnerships and Industry leaders across the entire value chain from the network, the ground up with you will no pun intended. Right through to the implementation that will really evolved upside insights into a leading construction ecosystem that crosses the path from design to construction and ultimately the occupied structure only enabling enhanced services for per hour. It's like Scott and and his organization and features for people that are occupying those spaces. So I'd say it's an industry that I'm really respects Evolution, but the pace of change is

accelerating and it really needs to digitization. Even Beyond iot is rapidly. Taking holds hence the word constructech revolution know, but enough nssed to survive in the future by John. Absolutely. And I think pressure will come to those organizations that failed to embrace the change. That's, that's really happening in our in our industry right now. Don't think anybody will disagree with that. But I I like your Segway. I think we can move right to Scott as the client and get his perspective. Yes, oh, thirty years in the business. I'll say the first

25. It was a slow. Evolution of Technology was the basic of needs of turning lights on, and off control, the HVAC parking system in. And if I think about the explosion that's happened in the last four years, from David and end of the past 12 months. It's really been driven. There's, you know, iot is driven the cost down. We're all under pressure to try to get cost out of operating buildings and if we can order me some of these work processes or give our building operators, a single-pane-of-glass to really

understand and in diagnose what's going on in the building too big data or other digital twins are? Other means it means that we there are tenants could benefit from that. So, you know, in the past called 24 months, there's just Really been an explosion of pace of things that we were hard-pressed to get use cases to actually work. Because the cost of deployment, the cost of management are the total cost of ownership RV. Want to look at that technology. Those costs have gone down dramatically, which makes these business. Cases are use

cases actually work. In our ten minutes are actually demanding that our building stay competitive. If I look at TD Center, you know, it's a 50-year old building and changed the landscape in the. See you trying to win the first time I went up and it is still a relevant building in the center, Financial Corp, and not really is because behind the scenes, we've been continuing to invest. And Technology to support the innovation of that building choose current mandate compared to a brand new building that our partners at PCL

constructed first down the street. So it's just shows you how quickly we can deploy the technology in the built environment, which is really the biggest majority that we're dealing with today in a cost-effective manner versus ripped down and and rebuilt. Thank you. Scott delighted to hear those buildings are working out so well, because in the very early 80s, I was with Cadillac Fairview and a development officer that was charged with working on TD center with Eaton Center face, too. So I I

remember the conversation being very different in the early 80s than it is now. one of the things that we haven't talked about in Michael, I think I'll Circle back to you, is, Where do we see the future of proptech? How do you see us evolving going for it? I love to give you the tough ones. Michael. Sew in with the general theme were hearing today's there's a lot of excitement in the weather in Toronto or across the country because knowledge is rapidly changing but equally important

in. This is that going I think more more people are are quicker to adopt the new technology will solidify to go down in the short-term urban areas of proptech. Or I see that we never would have thought about. So again, you know, the example, I used is to control the ability to go from your house to your office and get one thing for someone like myself is a little bit of a germaphobe. It is fabulous in the long term. Technologies and developments like 5G. Smart cities, underpinned by a. I

will continue to expand 5G case, which will enable faster networks and enable us to capture data quicker, which in turn will enable us to build more comprehensive Solutions. And that ultimately enable us to build, really exciting, bigger faster, smarter cities, and I think we're just at the cusp of that half of that road. It's certainly a fast-moving train by Travis, your thoughts. I think you do iot. If I think back to like, you know, what, it kind of came out and send text initially announced their chips that they were going to be using for iot. I think a lot of the

you know, the reason in the lag on adoption in the space it was you no potentially more focused around residential homes. Nice to have iot connected devices versus must have iot connected devices. The other part of it is in terms of being able to connect all these, you know, tiny little battery-operated low, low data sensors, you know who prefer an economical price is also going to challenge. So I think with the adoption of you know, RF technology is really still or win, which is the platform or on it makes that all possible and I think that you know words and again we're seeing

this because we're going to were in the space, but now you're thinking about Solutions like the digital twin Rai your Predictive Analytics that actually have business cases associated with it where there's money behind those companies. Actually invest in adopted. So my feeling is that at this is this is not just the beginning. I think we're going to see a lot of this going, for to make a covid, plays a huge piece in it. And I think also the insurance company know our are at to kind of put it there. I don't want to say neck on the line, but they're a little more apt to jump in the game a

little bit earlier versus. You don't want me to scrub all oz of the data before they even take a step forward. So, I think there's a lot of Tailwind behind it personally. And, and I think a lot of that's being driven by, you know, applicable use cases to larger companies that are willing to invest in the space. I think we're beginning something. I like to call the exponential here. I think that the change will occur. So rapidly, that it will be a very different animal than we've been accustomed to Kathy on the design side. What, what is

your prediction and BG? Is his prediction as we look forward to the next say 325. Well, I think you're the first of all, the industry has been far too oriented that by asset and not by occupants and employees work everywhere and we're seeing more and more of that. Right now. We need more technology is that can connect the virtual team from wherever they work, not just a building Centric approach to technology. If it doesn't work for the largest distributed, tenants. Are they want and need sit in the same features and insights for all employees, not different by building. So the

irony is that landlords are more likely to invest an occupant, perhaps that will change. Now with the focus on Virtual culture and distributed in, But I do feel that we see the doors opening there with users, wanting to introduce some of their own tattoo, the environment on a personal basis, as well as how that may tie into the building deck. And Scott your thoughts on as a as a client. You know what? You're working on a new building with Kathy. And with Mark, what kinds of

things are you looking to introduce into your buildings in the next day, three to five years? Yes. I think the the little different than maybe it's worth trying to figure out, you know, how can we share data with those tenants and support, you know, facility managers like b c a b g, i s and others where, you know, there's a lot of data that's available in the building system. But how do we share in a way that's meaningful to those tenants and that we can respect privacy or cybersecurity. I think

cybersecurity is really going to be at the Forefront of these buildings as they become more technology. Advanced the notion of you know, systems despaired systems not connected to the outside. World. They were leveraging the internet 5G which we heard about. There's all these other opportunities for external actors to try to influence the operation of the building. We also have an issue 2 with just the skill sets that it's going to take topper tee buildings. We used to send guys with tool belts that go, you know,

pick something. Now, they're going to do this. As we heard about distributed Workforce. They may be working off-site somewhere troubleshooting and understanding. What's going on in the building before you roll a truck or send somebody to go fix something. So those are the real pressures that I seen coming. It's it's where the skills coming from. How are we protecting the building from cyber? Not just physical and at the same time, meet our tenants needs for access to data or sharing or controlling that building system. So, you know, just think about the individual control now. At

someone's desk. I want to adjust the temperature. I want to control my lights. I want to adjust the blinds. I want to book an elevator all those things which were either 5 or 6 years ago, seems like your big dreams today. It's virtually an expectation. If we're going to lease space and convince people that working in our building is a place, they want to be in and those are big needs today that we probably wouldn't have entertained in a couple years ago. I just got a question for you. Just a slightly different spin on

the same question as a builder. When proptech is is is it is moving and evolving, very quickly. Arguably at Revolution Speed. And as the Builder, you need to, you will be working with clients and a design team and trying to keep up to technology and it will be new technology. New prop, tech technology that occurs as you build. How do you stay current? During the construction of a building when your client and the experts, and the folks that you're working collaboratively with our telling you about new ways to approach old problems

and their new everyday? The short answer is I don't sleep, is that technology and proptech is moving. I've been I've been in technology for 30 years. So it is the pace of the pace of change in the rate of change today, in all industries of Paces, anything that I could have even imagined even ten years ago. And so, you know, we're continuously adding Technologies and capabilities around our job site in size platform, which was born as a Telemetry platform, which the end of the day or two five form, essentially collects data from sensors. And you're hoping to get actionable insights. From that

data, that are allergic to a problem before it occurs, or allow you to address a problem before it becomes a bigger problem. But we're really focused on is, is continuing to understand what our people tell us in the field that they need married to what our customers want and need in a finished product because it's different, Scott say there are really focused on And Kathy said, you have people are really focused. We need to focus on the people as much as we need to focus on the ass and probably more so than the people because as as people are getting more demanding relatives, what we

see. So well the core of our, our our progeny are on our future view of the technology in the spaces, aside with Telemetry in job site, insights were quickly growing, an ecosystem of adjacent products that you'll probably hear me and ask some point around that ecosystem to around the product, really creative, smart construction. Ecosystem was really defines prompt. XO, proctectomy, isn't defined by OT, proctectomy as defined by coyote in. At. The core married to a Jason Smart Technologies, at least in our business that can be married to that to that core and then create a really

smart single-pane-of-glass. So people aren't looking at six seven, eight different Pains of glass understand. One thing. They're looking at one pane of glass, understand many things. Make Your Mark just before we move on to the next question. Just a gentle, reminder. I see, we are getting some questions now. I certainly encourage the folks listening in to think about a question that you might have this panel answer. Hopefully, we get to all of them. This is so unusual to get this kind of

expertise all together in one room. So it's a great opportunity. I think to get some insight on the subject of inside. I'll start maybe Travis with you. You have lots of iot experience. You have been through the process of strategically planning, how to integrate iot and and proptech. What advice would you give our listeners today? As it relates to strategies, they might deploy for their businesses going forward, their buildings. That's why I would say. You don't focusing on the low-hanging fruit as a release the pain points, no, not chasing

a funeral, a million different use, cases and Concepts all the same time, really become an expert in in one area, or employee, you know, devices in one area that you can build on. I would say, you know, this kind of build Saint Marks,, they're in relation to what you were saying. Like, how do you check? I think everybody needs to personally be thinking that way anybody that owns a building, you know, you can't make an isolated decision to say. Hey, I want I want water now and then, you know, turn around a year later and go. Oh goodness me. I want water. And now I want this. So, you know, as

a company, we've approached, you know, where execution in that in that fashion. So I would say, you know, find the leaders in the space that are looking at iot holistically and purely from the customer. Perspective as Mark, the same one painted glass with a variety of endpoints you can connect and bring together. As I mentioned to terms of JSI, you know, it's a very smart way to approach it and and likely the way I would too. So, you know, they sold for not only the current and future use cases but very much customer experience and driving that at 1 at one painted glass application. So

again, you know from my perspective as a customer, you want to back the right horse at the end of the day that has a long-term view of where of where the market is going. And that said that is approaching holistically in such a way that if the customer wants to add on a device, it's not old. We going to do technology stack in the building. We need a new application know where, you know, you're in a good position to to add on those things as as you need to. I just need to add another event. On, outside of iot is, I think that there's a lot of companies in the space,

you know, different sensor company's technology, software excetera excetera, and a lot of these companies are startups, as Example, or you know, you know, heavy, heavy, early, early stage, you know, when you're looking at these companies, building operators, when they're looking at technology or construction excetera, you know, aren't looking at that as hell, you know, we need this for six months and that it's done, you know, you really have to be careful of the partners you back and you're making sure that they know why they're looking at it holistically. You also want to make sure that

they're going to be around there going to be around in a year from now or two from now. Not everybody's going to win. Everybody's going to win in the space and it's going to be. I don't know how many winners we personally feel that the view we've taken is is going to put us in a great spot and I think it is showing that we have, but when you're making those decisions, you got to be real careful that you know, the companies that you're you're partnering with her are going to be here to deliver, you know, through the entire term of what of what you're signing up for. That's very true

particularly in the building business. It feels like everything is been people, assume price is synonymous with value and it isn't it's about capability in. It's about transparency and it's about collaboration. I couldn't agree. More. Your thoughts on the same subject? Scott. If you were you have a distinct Advantage with an organization, like Cadillac Fairview that has been Leading Edge, four, decades, since 1974. I think, what would you what kind of advice would you give

Lipschitz development? That is working to create, you know, leading-edge dropped a candy and trying to be mindful of iot in 5G SSA. Look forward. How would you advise them? How to move through their strategy. Yeah, I think it's a great point is a couple things have to happen one. I'm very fortunate to work with a great team of people both on the operation sign RIT side. It's a collaboration between technology and operations, a well-thought-out use cases. We've heard about how does that fit into roadmap,

you know, we hear a lot about real fast, but we've got to be able to try and, and pivot and be nimble, you know, Mark brought up, you know, some great points were used to building buildings over three years to 34 years while technology. If you think about the pace that's happening today. You're you're making changes. You're making decisions. Now that are going to be obsolete in over four months from now. So how do you keep pace of that? So that notion of really thought I use cases? You Know, Travis made a great point Who's going

to be around in the other key point is, do you understand how you need to be organized in the cost Associated to support? The people have a great concept of the first time dollars, you know, I'm going to install it and I know it is going to be but do you really understand the cost to support that technology or do you like that technology? So those are are some key lessons Turtle. I've learned over my time, but that are really coming to the Forefront right now. Thank you, Scott, Michael. I really, I'm really looking for

something strategic that would help would help our audience, understand some of the things that should be on there. There to do list as they think strategically about planning project. Museum, a person of Threes, but I'll keep it to keep. Wes has the most able to probably need to ask themselves when they are considering implementing iot Solutions. One in in this is echoing a statement. The number of individuals would have made, but you really need to push the decision maker to a refine and Define what they're trying to solve, right? So, it can't just be about how I

want to put in the fanciest last year's new widget. You really need to pin down exactly what you're looking to do with the solution. It and could be improving, sustainability could be from safety, including financial performance or perhaps even more. So now than we ever did before improving Austin satisfaction. That's really cute in that down. And then the second question that I think you have to push the decision-makers to think about and maybe this is a two-part. Question is one. How do you plan to integrate? The solution in the system with the organization and,

and secondly, who within your organization is really going to Champion this caused because there are going to be a lot of naysayer. There are going to be a lot of people that push back but you really going to have a champion within your organization. So on a personal note to bring this to light a little bit caramel for the last number of years, continue to hear from our clients that water damage was becoming More expensive to repair. It was becoming more prevalent and they look to us for a solution. So and we went to the market to to find a partner that can

help us with it. And again, just plug number to be found. It would really like Elliot Samuel. Travis was just a tag-along I get home and really solve the problem that we were looking for, but then he wants me to start it on what system and who wanted to partner with it. We really have to decide on who had our organization was going to internally but externally with our client is charged and you know, he would have had a lot of conversations internally and a lot of conversations externally

in and where were early on in a relationship and partnership, but it's certainly been fruitful and we think to ask for it is going to be really exciting. Thank you, Michael. I'm okay with the plugs, by the way, for Travis. I remember, he didn't meeting the first time. I met Travis. He was the recipient of an award for Innovation was given at the construction out of the shelves. I'm mindful of the time and then with your permission. I'm going to go and ask a couple questions. First question,

you see healthy buildings, IE measuring particulate matter relative, humidity environmental cup measuring, volatile organic compounds. CO2 key to having employees, to return to work safely. I love to start with a difficult question and I'd love to throw it at Travis first. Oh, goodness me. This is all, I'll do my best to be better used for for Scott. But I would say that it's part of how we are approaching the business today or am I on their John? You are indeed. Okay, I would say part of the way that we're looking at the business today, you know, really speaks directly to those things. So,

some of the work we're doing with some of our partners is not only the water component, but adding that temperature humidity and Air Quality Auto, Fancy sensors. A whole bunch of different things onto our platform to deliver that to the building. So, forth from our perspective, with a kind of an isolated view of a large large partner in Cadillac Fairview, you know what, you know, we're seeing them, you do look for certain things outside of, you know, right. I would say right in line with that. So, you know, I talked before about the holistic view of where this is going. That's a good

example. And it kind of speaks to that point. I was a great segue back to you, Scott. It's, it's interesting. So yeah, I've been in this business a while and I think about the days of legionnaires and sick buildings in all the indoor air quality, challenges back then to where we are today with, you know, even signed to set up sit-ins has to indoor air quality in the transmission of this virus, but that being said absolutely I think that the industry is catching up with sophisticated

indoor air quality sensors to address those concerns, whether it's ridiculous, whether it's virus in the air to humidity, CO2. I can type personal experience, just one antidotes. I was concerned with large meetings in our smaller, boardrooms. What was the saturation throughout the day with CO2? And how will people be hating on that? So we went out and we Source. The sensor were starting to measure that right now because as Has our own employees work in our space. I was concerned about, you know, we were cramming several people into small spaces

for a meeting that they were designed and how was that our people behaving as mean as it relates to air quality in and where they getting tired and all those things. So it's a new it's not a revolutionary thought it's an evolution and it's just really started from from the 80s of of six buildings. Now, we're just more purpose, focused, around. And particulate, send covid. And we're going to just see some very sophisticated sensors in the building, whether it's in the room or return Air Supply, Air that everybody's going to measure it again. It says they talked about earlier. It stayed of that.

We want to share with our clients so that they understand power conditioning, or Thank you, Scott. And thank you. Travis, a little different direction, a question. Perhaps for you, Kathy as a current student at college students that in construction management. I'm interested in what the iot industry has to offer for future construction management construction, engineering, and civil engineering graduates in regards to careers, aside from typical project management careers. So, I think they're trying to get a sense of how important this part of it

is to their employability as a student. When there's a very current question that we've talked about at the dinner table. I'll say, I think the number one thing is to remember why we need buildings, buildings are People and people need buildings to interact with one another and connect. If you're a construction manager getting into that industry. If you start from that perspective thinking about buildings are for people and you need to understand how your role in that process. So I

would encourage someone who may be studying at field looking at how the Technologies can support people and how can I make that current to how I offer my construction process? The number one thing I think construction managers need to remember is that we work with one another. We are a team of people, the more understanding you have four other careers or other roles that the team members play in the process, the better you'll be at your role and there isn't any career at this point that I can imagine that wouldn't require technology as part of a solution. So understanding the role of

iot in a building understanding the role of iot in the occupiers of that building and the tenants as well. The participants using the building and then your role in that can can can the bark off into any one of these industries happen to work for an FM company? And I don't think I've met anybody who woke up one day when they were 8 years old and that I can't wait to be a manager when I grow up. One thing. I've also learned is that your role will appear to you as you interact with these other

Industries and I would encourage you to consider that in in and your progress. I'm thrilled to hear from students that find interest in our industry, for the prop Tech, side was construction management, particularly important. I know as an industry, we have north of 260,000 Baby Boomers. Like me that are retiring over the course of the next decade or so. And far too few people coming into the industry's anticipate. The recruits will be more on the order of 220,000. We know it'll be a significant shortfall

and therefore, potentially a labor stories. We hear about skilled labor. We don't hear often enough, the boat the white-collar side and you can relate to that. I know Mark, but I'm going to go slightly different question for you mark. This was directed by for you. Which one Trend in proptech. Are you especially excited about And you think this will become much bigger than it currently is. Yeah, thanks John. Have a question and it kind of relates to the question that the person had related to the outage 3. And, and as it relates to construction management,

I think, I think we're in the early Innings of what I see it. As a 9-inning, an Extra Inning, Ball Game, & thing. I'm most excited about right now is what we're living at PCI construction and enabling a smart construction site parlay that into buildings. That I think. The next thing I'm excited about is, how does Smart construction Drive, smart buildings? And how does Smart buildings, Drive, smart cities? And so I think they'll be an evolution, as I said earlier, not a revolution as a result of these Technologies. And I think they'll be a lot of really smart and adjacent

Technologies, married around the IRT ecosystem. For example, 5 mg or other data-driven services are Creature Comforts, that allow us to really change the future of the built world. And I can refer to a digital twin. What is the digital twin? That's probably the next big thing in construction been around in Industries like Airlines and Automotive forever. But the digital twin is, is a exact replica belts, do drawing, incomplete, 3D, or 525. You really is he will and it gives you a complete pulsive of your building. What it's doing, how

it's occupied. How it's being used when I wear it fishing season in efficiencies iron. So I think we were really John and in really early in the Innings of the digitization of the entire industry. As I said earlier, right from the ground up and exciting place to be right now. It's probably the most excited I've been in and out and my thirty-year career. I love the concept of a digital twin. I'm I'm seeing other others. Watch what PCL does as an industry leader and and looked follow suit. It's something that I hope will be trouble. Get a lot of traction in the industry. It makes

overwhelming sense. Next question, was directed at you mark, but I'll move back. And also a Travis, you Cai and machine learning investment for building operators, developers and Constructors to be a long-term differentiator, and I'm going to start Travis with you cuz it was directed your way, but I know. Others will want to weigh in on this and we welcome others. Suresight. I think the ad very very short answer is is I don't think that it's is going to be good. That way. I think that investment is a must into the into the aisles, into

the casino. I o t space excetera excetera versus a rationalization on differentiation. I think that people are going to need to compete in an order to do that. They're going to need to adopt and invest in in the space, focus is around, you do optimization to achieve scale, you know, portfolio, why controls and adoptions as the as they move toward building automation cost reduction driven by Predictive Analytics. I think you do in the future investment into the space is going to be ultimately table stakes and then retrofit situation. It'll be interested. We employed through buildings. You

know, I think the main drivers of solutions being clear visibility to r a y and making sure the technology Integrations are widely considered as Integrations. Can be costly as well as confusing with respect to the end. No, putting these into new assets, you do from a business rules perspective. So I think it's a must I think I think they'd invested into the space. Cannot be looked at as a pure-play on. Hey, I'm going to build a better mousetrap. That would be my kind of 2 cents on it. Michael, I would hate for you to immediately. Agree with Travis, but your thoughts

Short-term, I think there are going to be certain players in the industry that are going to make investment and then they'll be other that well and certainly in the new multi residential space or seem certain developers of the opportunity to make investments to incorporate technology. Like one ballet excetera in short-term. I think it is really going to differentiate one building from the next because if you look at the downtown Skyline and you see you bring up the frame building at the building, a lot of them look, very similar, but when you go into the Gaston, can

you see the ones investing in really exciting technology weathers Biometrics in our capabilities, to open the garage and use the elevator? I think it will differentiate. And then over time it probably won't be as much of a different shade her and will probably be table Stakes. But those, that it jump early and invest early. I think there are going to lead the charge and a really successful future. I would react if we agree with Michael on that point for sure.

But now I kind of was approaching it more kind of big bigger picture down. The road is kind of what needs to happen. But I think totally meet in the short-term those who do step out early, you know, all to Michael point. Like I think you're I think Mike your your company specifically is, you know, just on the simplest example of those in all the leak detection side of what, you know, what we're doing, you guys as you know, that's a that's a step forward. And do you know what is going to be a differentiation? No question. Guys, were, we have time for one more question and, and that's it.

So, final question. What in your opinion is the biggest problem in the real estate in Industry that proptech will help solve and Scott. It seems appropriate start with you and maybe it seems also appropriate finish with Kathy. Yeah, I think we're all chasing the same thing with proptech in the built environment, new construction, sustainability reliability, resiliency, in our building, whether it's water-based energy-based. Those are things that we are trying to solve on the, the bricks-and-mortar side and the other and the cost side. The other

pieces, its tenant Century Solutions. So how can we make the tenants renting space their experience better than just, you know, thumbs and seats. So that's really what what we're trying to Taco in a cost-effective way. I just fit in its it's a big big crowd Topic in minutes. And 30 seconds are not greatly appreciate it. I think we'll wrap up with you on the same. No problem. I'll try and keep it. I think the answer will be occupant. There's going to be a. Of time where I may or may not want to come back and we need to make an experience for

clients to and and occupants to want to return to in the safe and healthy manner. If I look at the long-term, I think then we could deal with the resiliency of our buildings. I think that'll be the ninth inning game that Travis talked about. Thank you Kathy. We are just wrapping up now. Last couple of minutes. I want to remind the folks listening that it doesn't all end here. You have an opportunity to visit the trade show booth in the exhibit hall and catch up to some of the folks that

have joined us on the panel today. And I think I I speak for everybody that's join. The that's joined us to listen to our group today. Really extraordinary group, great insights. It's just been I think a wonderful conversation about something that matters. Most that you know, we it's a subject that affects everything we do going forward. And it's interesting. We talked a little bit about covid during our discussion today, and in some ways that's changed, the way we look at things, and I hope for the better. I

know there were some positive, some silver lining. I think, because of that. I'd like to thank each of you for agreeing to be part of the panel discussion today. I'd like to thank the attendees for joining us. For what I know, you will agree was an enlightening conversation and look forward to getting together again. One day soon. Thank you all very much. Thanks John. Rachel.

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