New data shows lack of knowledge for IoT and blockchain in built environment
13 March 2019
As predictions for the
Internet of
Things’ growth continues at an exponential rate, new data from global
engineering and infrastructure advisory company
Aurecon reveals that
many businesses have a significant lack of knowledge for utilising the
technology.
A survey conducted with Aurecon clients and property industry
representatives in Q4 2018 found that almost 60 per cent believed their
organisations were not undertaking enough research and planning for the
Building Internet of Things, and although 40 per cent were interested in
using
blockchain for business, they were unsure how to use it.
The data was collected as part of Aurecon’s fourth edition in its
Buildings of the Future series, titled Easy Life, Complex
Technology, that examined how blockchain
technology will influence future buildings’ design, construction and
maintenance, how data can be used to amplify business performance and
how buildings can remain secure and protect against cyber-attacks.
The Building Internet of Things (BIoT) refers to the connections in a
smart building linking devices and sensors, analytics, machine learning,
business systems, cloud, productivity, and artificial intelligence.
The fourth edition of our Buildings of the Future series explores not
only how we design, construct and maintain our buildings, but how we can
use data to amplify business performance
Aurecon’s Buildings of the Future Leader, Peter Greaves,
said the data demonstrated that while industry understood the value that
BIoT and blockchain will deliver they lacked confidence in selecting the
right technology.
“44 per cent of respondents said that choosing the right technology and
applying it effectively to enhance building value and operations
concerned them most about the BIoT,” Greaves said.
“Blockchain has made significant progress in other industries compared
to the built environment, meaning the time is ripe for disruption, but
this feedback shows there is a need for greater education.
“As an industry, we are at the forefront of change and it’s a very
exciting time to be having these conversations to consider how our
future offices, homes and community buildings can be enhanced by
technology to improve life for end-users. At Aurecon, we are championing
these conversations and beginning ground-breaking new pilot studies
testing what’s possible in this arena.”
Aurecon is currently exploring the utilisation of high efficiency solar
farms to link public and private sector partner organisations via
blockchain, leveraging a battery source to power buildings in a private
network that would not only be energy self-sufficient, but also sell
excess power to the grid. Aurecon is also developing the build of a
renewable data centre that utilises wind farm energy, and is supporting
the roll-out of the first 5G network in the world in Australia.
“Compared to other industries such as finance and retail, there is still
considerable headway to be made with blockchain in the built
environment,” Greaves said.
“Yet as the technology becomes more innovative, the need for stronger
cyber-security also increases, with the latest data from IBM estimating
that a single data breach costs a company close to USD 4 million on
average. Asking the right questions is vital to help mitigate against
risk.
The report, Easy Life, Complex Technology, also investigates how
buildings will utilise the internet of things for improving building and
equipment maintenance to increase efficiencies in business operations
and amplify business performance.
In addition to detailing the benefits and potential uses of blockchain
in the built environment, the report also outlines case studies of
blockchain in practice through a world-first fully digital hospital in
Humber River, Canada, and the use of blockchain for managing land
records in India.
Previous editions of Aurecon’s Buildings of the Future series include Part 1: Science fiction or science fact, Part 2: Bottom line benefits and Part 3: People at the centre.
--ENDS--
Source: Aurecon - www.aurecongroup.com
Contact: N/A
External Links:
Buildings of the Future Easy Life, Complex Technology: https://www.aurecongroup.com/markets/property/buildings-of-the-future/easy-life-complex-technology
Buildings of the Future Series: https://www.aurecongroup.com/markets/property/buildings-of-the-future
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