00:00 Spokesman a
And you know in principle that you are walking people in your customers with this idea that AI and Robotics are transforming the real estate industry. This is driving, what you say is this, this true transformative evolution of the industry has translated us through it, but only at a high level. What do you mean by that?
00:17 Speaker b
Yes, so AI and robotics are, you know, I traditionally want to say that robotics are traditional, people consider it as production and logistics, but it will be much more than that. It is already starting to be. AI, we already know, can achieve efficiency and connect the points and improve, um, you know, increase the efficiency of many places. But at a high level, if you break down, um, like real estate, the use of real estate and the use of really everything in the world, you do things, you move things, manipulate things, or store things. This is the greater part of the GDP fits into this bucket. With real estate, um, if you think, AI and robotics will transform the entire real estate life cycle. So, you have a design. So how do you build things? Where do you build things? So, there are several considerations there. So, you will use AI and Robotics, uh, in homes, in mobility and transport. You will see, you know, things like parking lots become parks, as you see less need because we have autonomous vehicles that do not need parking. So there is a design element in which AI and Robotics or artificial intelligence will redesign how we think about design. So, companies like Autodesk, such players will have a huge game B, um, just like that, this design system. And there are also the materials and energy designs that will come into play. So if we think about it, um, you know, we work for energy. Oh, the most advanced economies have more use of energy. So, this is a big component of this is energy efficiency. So, now we move on after we have built or we have to design it, then build it. Currently, robots have a very low penetration of actually building things. She is still very physically manual. You have some factory construction where, like, they do it in advance and there are some 3D prints, but it is still very manual on the job sites. And there is a lot of space, there is a lot of need to improve efficiency here. We have a shortage of labor and we have dissatisfied needs, we have a residential crisis. I want to say that people cannot afford to live here or, uh, the operating system really does not function. We have a lot of debt, as if we really can’t work the way we go. So, we actually need to use more AI and robotics to improve this side of things. The next stage is actually operations. So, AI will become the operating system of buildings. So, this, uh, energy efficiency, it improves the quality of life. Consider the aging population, many of them are sent to nursing homes, but in reality it is really why more people cannot live at home? So if you start adding AI, you have more energy efficiency, you have, you know, more robots that can achieve more goals. This is actually mostly shifting where people will think about the development of real estate, because it will change the lives of people. So, it also enters as data centers and other things. This energy management component is very, very important.
05:09 Spokesman a
When you think about the real estate industry, though, as you know, I want to say it can be, it can be a highly regulated industry and sector, it is any kind of challenges or obstacles to the unfolding and integration of this type of technology of the next gene you are talking about?
05:28 Speaker b
This is a huge opportunity, because right now let’s go back to Dodge. Okay, I think we’ve raised a doj in this show before. But in this case, we are not trying to move fast and break things, we try to move fast and do things. And if we do this, AI can actually improve the way we validate and reduce the speed of bureaucracy as the cycle. So, you know, the permits take too much time, there are many as opinions and local authorities that interfere with you and stop the appearance of nims against the Iimbi. So, you know, AI can also be used on the reverse, on the government side you say as: Why do we have these provisions? Is this for safety, energy efficiency and codify this. So now these codes are, uh, you know, these laws can be codified and facilitated. So we will see a faster absorption and reduced costs, so the developers will say as, oh, more likely to be able to overcome this faster through the door. Here are the incentives, this is what I have to do. And so you can actually see improvements from this. But yes, I want to say that people talk about energy consumption, um, and there are many players who are trying to reduce this, um and can do, you know more efficient energy, uh, energy efficient buildings. So this should be a net positive. I don’t think anyone will be against it.