AI technology has been on the market in various forms for some time now, but most businesses have been slow to implement it. Instead, they have mostly taken a wait-and-see approach, but that period appears to be coming to an end.
According to recent research, the waiting period is over, and the early adopters of latest AI technologies for building management and sustainability stand to gain an advantage.
Study Finds Computer Vision Is Now Seeing Adoption Across Industries
It’s no surprise that AI technologies are and will continue to be a major driver of innovation. Even though not all businesses have executed plans to incorporate technology like computer vision, several have, and many more have their wheels in motion. Those early adopters are paving the way and setting themselves up to be the front runners in their respective markets.
In research commissioned by Insight, 10% of study respondents indicated they already use computer vision. Moreover, another 37% plan to use computer vision and 44% more are exploring the technology.
A staggering 96% of study participants reported they believe that computer vision could generate additional revenue for their businesses.
The primary reasons cited by respondents for adopting computer vision were reducing costs, improving innovation, increasing safety and security, and forming a competitive advantage.
Participants in the study were from vertical industries, including manufacturing, retail, healthcare, utilities, and transportation. Among other themes, these industries all have one undeniable thing in common – a physical space that needs to be optimized. So, how can computer vision help improve space management?
Understanding Implications for Space Management
Space management has not seen many new advancements in recent years and is primed for disruption. Smart buildings help businesses adjust their physical spaces to make their resources go further. Not to mention, smart spaces optimized through computer vision can get companies closer to their environmental goals.
Through computer vision, management gains real-time insights into how their building is used. Knowledge around how many occupants are in a space at a specific time allows businesses to organize the area more efficiently.
Additionally, computer vision helps keep the area safe from potential ongoing hazards created by fluctuating occupancy levels. Management can elect to have masks or other safety compliance monitored if they choose, such as the use of hard hats during periods of construction.
Operating building systems at the same level regardless of occupancy or other related conditions should be a thing of the past. Capacity restrictions and hybrid work environments require businesses to adapt not only the way they manage their workforce but also how they manage their physical spaces.
Computer vision paired with the building’s HVAC system can adjust heating, cooling, and air quality to keep occupants comfortable when the space is in use while limiting output during stretches of downtime.
Previous efforts to track occupancy and comfort relied on people counting and CO2 emissions that were slow to react and often inaccurate. They also required specialized equipment and setup.
Instead, Nomad Go’s computer vision utilizes standard smart devices that can be used for multiple reporting purposes and can be easily moved as needed. Using innovative, multi-use technologies, businesses position themselves to get the most out of the systems they invest in and adapt rapidly to changing needs.
Carbon emissions can be drastically reduced by conserving power and not operating HVAC systems at full strength during times of low occupancy.
In fact, Nomad Go – a leader in AI computer vision solutions for building management, has seen carbon emissions reduced by as much as 38% for key customers.
Businesses that capitalize on technologies like computer vision can eliminate waste and cut greenhouse gas emissions more rapidly and, in turn, establish themselves as industry leaders.
Advantages of Early Adoption
Businesses that are early adopters of AI stand to gain the most considerable advantages as technology progresses. Smart buildings allow companies to preserve resources and, even more importantly, help meet their goals of reducing carbon emissions earlier than expected.
Plus, looking back to the research presented by Insight, 50% of respondents who have implemented computer vision have a return on their investment within just one year.
Investment in AI technology is different from other investment types due to the immediately applicable insights and the understanding of physical spaces that come from ongoing, congregate data. Computer vision dispenses concrete intelligence to decision-makers almost instantly – showcasing the value of the technology within minutes.
Unquestionably, innovations like computer vision will be necessary as businesses move forward. Failure to advance to AI technologies will inhibit progress and stall growth in not only revenue but areas such as safety and sustainability commitments.
Read case studies and the latest news about Nomad Go visual intelligence for buildings at: https://www.nomadgo.ai/resources/