Enhancing Building Security and Tenant Privacy with AI Property Management

5 mins read
Enhancing Building Security and Tenant Privacy with AI Property Management

Building owners and facilities managers face numerous challenges in maintaining tenant satisfaction, property protection, and profitability. With rising insurance costs, increased evictions, and heightened crime risks, it’s crucial to find effective solutions. AI Property Management offers a promising avenue for enhancing property management. By processing large data sets and identifying patterns, AI can improve team productivity and streamline tasks. However, it’s vital to balance AI use with human oversight to avoid over-reliance on technology. AI-powered video surveillance can enhance security by detecting unusual activities, but concerns about privacy and data security must be addressed. Implementing AI requires a strategic approach, starting with auditing current surveillance capabilities, assessing gaps, defining AI objectives, establishing data governance, and continuously measuring and adjusting the strategy. AI can significantly improve building control and tenant experience when combined with human expertise.

How AI Property Management Can Enhance Building Security and Tenant Privacy

To keep tenants, protect their properties, and achieve a positive profit margin, building owners and facilities managers battle an uphill battle. Can their hope of gaining more followers be aided by the promise of artificial intelligence (AI)?

Facilities professionals have gotten a fever pitch in subsequent years of industry turbulence:

  • Insurance costs have skyrocketed, in part, according to property damage from natural disasters and vandalism.
  • As pandemic-era support systems shut along, evictions are becoming more frequent across the United States.
  • Particularly as clever building technology and connected devices spread more widely, real and cybercrime risks remain high.

It is challenging to overcome these problems and increase property control without compromising the experience of the tenants. The ideal combination of individual expertise and technology is required.

Let’s decompose a several things about AI and explore five steps to help you decide if AI is the right choice for your building as you consider how to improve your building control.

Understanding the Implications and Benefits of AI for Property Management

AI has the ability to process sizable amounts of data, identify patterns, and draw conclusions or recommendations from its input based on statistical probabilities. AI can greatly improve your team’s productivity or reduce repeated tasks.

The risk, however, is that teams may defer important decision- making to AI. Or they” set it and forget it,” allowing potential issues to spread until a fix is made. Remember: A human must usually stay in the loop.

The best Artificial tools make people tasks simpler and more productive, which is why video surveillance is important to take into account. AI-powered game solutions can provide building owners with insights like:

  • When a person who is prohibited from owning property enters the building
  • standard property activity levels, including in shared areas like playgrounds or parking lots, are day and night.
  • whether there is suspicious activity on the property, such as unattended packages or possible illegitimate activity.

A video monitor is not productive when a person is paid to stare at it. Humans are naturally terrible at finding specific items that only appear occasionally ( a concept known as sporadic visual search ). AI computer vision can automatically identify items or videos that a human should examine in order to speed up the process of analyzing evidence. AI can be trained to recognize it if a human can detect it as well!

Tenants may, of course, have natural concerns about how you employ It:

  • Anonymity: Can they be identified from the footage? Is there visual recognition?
  • Data: Are their actions or behaviors being sold or otherwise used in some way?
  • Privacy: Are they being watched at all times?

Additionally, if teams don’t fortify their systems and safeguard their customers ‘ data, they open up potential cybersecurity risks. This is why it is crucial to create a custom Artificial strategy for your implementation and take proactive steps to address possible tenant issues.

5 Steps to Assess Where AI Fits in Your Video Surveillance Strategy

Each building environment has its own risks and expectations for each tenant. Follow these five steps to decide where AI fits in your goals the best:

1. Audit Existing Surveillance Capabilities

Second, inventory all of your existing surveillance and building security solutions.

  • What does each solution offer?
  • Are additional features available from that provider?
  • Does the solution plug into your ecosystem, or does it operate separately?

Create a spreadsheet and list all solutions, key use cases, and shortcomings or challenges with the solution. If appropriate, list each solution’s cost to see where consolidation could streamline your resources.

Talk to your security team and property management to find out how each solution is used ( if at all ) and what potential uses are there for enhancing security.

2. Assess Capability Gaps or Overlaps

Check where in your inventory you now employ AI. Can you use that term to cover more of your property? Do you require a complement to your current stack to work alongside it?

Your team might certainly be using its existing toolkit to its fullest potential or paying excessive amounts for duplicate solutions because solution vendors regularly add new capabilities or features.

When deciding whether you want on-premise or cloud indigenous video solutions to run your AI video analytics, this is also a good time. On-premises solutions commonly call for important updates before introducing AI capabilities. However, home-built solutions ( preferably if you have the engineering talent ) offer the best customization and control. Cloud local solutions can easily adapt to your requirements and use the most recent AI technologies, typically at lower total cost of ownership.

3. Determine Your AI Strategy

With an understanding of your existing capabilities, your team can then determine what you want AI to accomplish. Ask yourself the following questions:

  • What notable difficulties does your team already face?
  • What gaps exist in your current security plan and toolkit?
  • Do particular processes require more time from you than you can afford to devote to them?
  • What higher impact problem can you solve to make a significant improvement in building control?

Identify one or two areas where you can start testing its use cases and capabilities without much effort. It’s best to start with one or two governed use cases first, especially if you are new to using AI-powered solutions, before broadening your scope.

4. Establish Data Governance and Control Procedures

What information is collected from your employees, tenants, or the general public to develop the AI system for your use case( s )? Where does this information come from, who has access to it, and how frequently is it updated or deleted?

Your team needs to be aware of how data is used and what possible risks are there to wicked players gaining access to it. A significant component of this process is also the evaluation of how an Artificial model is trained to ensure that the resulting system has the least possible bias.

5. Measure and Adjust As You Go

As our communities change and technology gains greater and better power, fresh risks and opportunities emerge each day.

Start a standard audit cycle with important stakeholders to review your strategy, examine potential risks, and discuss how your technology is addressing these issues.

AI/ML in Property Management: Enhancing Tenant Experience and Retention

Increasing Building or Facility Control

Technology should help speed things up, make things cheaper, or improve accuracy and consistency. If there isn’t a targeted goal to achieve one of those outcomes, then the technology solution shouldn’t be implemented.

AI has a lot of potential, but you must be prepared to take its risks. It can be extremely useful for expanding your video surveillance and strengthening your existing security investments. The best solution will help you cover more ground than ever and give tenants a fantastic experience by combining animal expertise with the power of AI.

Leo Portal

Leo is an expert in the field of smart city research and an overall tech-enthusiast with an emphasis on smart energy, IOT, smart homes and governance. After a master degree in international administration at the University of Gothenburg in Sweden, and a master in public management at Fudan University in China, he pursued research studies in the field of smart cities at the European University Institute. This led him to publish multiple articles on smart cities. Among them “Using Smart People to Build Smarter: How Smart Cities Attract and Retain Highly Skilled Workers to Drive Innovation (Belgium, Denmark, the Netherlands, Poland)” published in the Smart Cities and Regional Development Journal (SCRD) and “Establishing Participative Smart Cities: Theory and Practice”, also published in the SCRD Journal. He regularly audits and advises municipalities and regional governments on their smart city strategies. He is currently writing a chapter for Springer on smart mobility in French smart cities.

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