JLL releases a new proptech solution -- AI Smart Eye
Shanghai, 2 December 2020 - Innovative technologies are becoming a key driver for the future development and value enhancement of China's real estate industry. In this context, JLL (NYSE: JLL), a global leader in real estate services, today announced the launch of an AIpowered property management technology solution, called AI Smart Eye. This product aims to help building owners and operations teams identify security risks, enhance operational efficiency and reduce management costs that also benefits the end-users of a building.
“In recent years, owners have an increasing demand for refined and intelligent property management. Since the COVID-19 outbreak, this need has expedited the digital transformation of traditional industries, including real estate,” said James Wong, Head of Property and Asset Management for JLL Greater China. “As an advocate and leader in proptech in China, we are pleased to introduce AI Smart Eye to the market. We believe this new solution, which enables round-the-clock monitoring, with intelligent algorithm recognition and real-time alerts, will provide developers, owners and property managers with the best technology enabled experience.”
A monitoring tool with a strong thinking ability
Traditional monitoring devices are basic cameras that can provide video recordings for review, after an emergency to prevent similar incidents from happening again. Whereas, AI Smart Eye is a camera with a “brain”, having the ability to think. Powered by AI algorithms, it can analyze and identify pictures and video data collected by surveillance cameras and inspection robots. On detecting any suspicious people, objects or other abnormal instances, it automatically triggers alerts and promptly informs relevant personnel, so that property managers can take precautions against potential risks to safeguard the property.
Before its official launch, AI Smart Eye underwent a 12 months Proof of Concept (POC) at two projects under JLL's management. These projects include Shanghai Baoland Plaza and Shenzhen Central Walk. The POC results show that AI Smart Eye can accurately detect abnormal situations, such as mass gatherings, people carrying guns and knives, stacks of suspicious objects, elevator outage, or instances of fire. It provides real-time feedback on incident handling. And currently AI Smart Eye is capable of identifying more than 40 abnormal situations. As the emergency database is further being enriched and expanded, over time, the algorithms will improve and the computing power can greatly enhance the speed and accuracy of identification.
An optimum tool for security protection, cost reduction and efficiency enhancement
Security of the property is the top priority for property managers. In office premises and shopping malls, which usually covers large areas and have a high pedestrian flow, traditional security cameras could have blind spots. Moreover, security guards often find it challenging to monitor every corner at all times. AI Smart Eye can support every corner under real-time monitoring to identify any abnormality promptly. It can also free up property managers from intense monitoring work, allowing them to divert their energy to emergency handling, as well as maintenance and upgrading of elevators, access control and other facilities, which can effectively raise operational efficiency.
As of today, the popularity of smart buildings is on the rise. For owners to upgrade and apply intelligent security equipment from scratch, can be a costly exercise. AI Smart Eye is a solution based “soft upgrade” on existing hardware, such as surveillance cameras and inspection robots. Therefore, owners can spend a fraction of the amount of money to implement innovative technology-enabled property management in their 9 assets. It is one of the most cost-effective options for the intelligent transformation of buildings. The product can also help forestall grave security risks, allowing owners to cut operating costs, and maintain and enhance property value.
Forging 1+1 > 2 synergy
Over the past few years, JLL has been implementing a wide range of tech products to property management, such as Command Centre a comprehensive and integrated solution that uses sensors to closely monitor temperature, humidity, air quality, lighting and other conditions of buildings. It promptly notifies if any facility or equipment failure or damage. The property management team can immediately send maintenance staff, minimizing the likelihood of a fault turning into a bigger problem affecting the entire building.
“Command Centre was designed to ensure the orderly operation of facilities and equipment, while AI Smart Eye is intended for risk control over movements of people and goods. They complement each other and work with each other to safeguard property security,” said Eric Lee, Head of Operations for Property and Asset Management for JLL Greater China. “Going forward, JLL will join hands with partners in the proptech ecosystem to roll out more products and solutions. In doing so, we can inject more high-tech elements into high-quality properties in major Chinese cities, unleash property potential, and help owners grasp opportunities arising from the digitization of the real estate sector, thus creating greater value for our customers.”
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.