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AMP Capital first to roll out AI system across real estate portfolio globally

By AMP Capital media team

AMP Capital is set to roll out new energy saving artificial intelligence (AI) technology which will regulate building comfort and energy use automatically to reflect changes in outside temperature and occupancy of the building.

Benefits to AMP Capital’s portfolio include:

  • A 20 - 40% reduction in the carbon footprint
  • Energy spend decreasing by up to 20%
  • Up to 60% improvement in comfort for people occupying the buildings

The autonomous AI HVAC (heating, ventilation and air conditioning system) will be deployed by Canadian-based artificial intelligence company, BrainBox AI, across AMP Capital’s entire managed real estate portfolio, which includes CBD office buildings, retail shopping centres and logistics facilities.

AMP Capital’s Head of Asset Technology, Daniel Lepore, said the technology would help reduce the carbon footprint and making buildings a more comfortable place to work or visit.

“This industry-defining technology is a major step forward in making buildings more environmentally friendly, as well as creating exceptional customer experiences and ultimately driving significant value and cost efficiencies for our investors.

“Practically, this technology moves in step and even ahead of the weather. On a cold day it will automatically increase the temperature to suit the climate and vice versa on a hot day. For too long air conditioning systems have been too slow to react to changes in the weather, resulting in buildings using more energy than required and a poor user experience. We won’t have to wait for our customers to pick up the phone, the system will respond before there is even an issue,” Mr Lepore said.

“This technology has never been more important. As property managers we need to be able to react and adapt to industry change, and with COVID-19, people need to feel safe and comfortable when leaving home to work or shop.

“This technology also considers occupancy when producing its predictions, which is crucial in current times when this is hard to predict,” he said.

Head of Sustainability and Platform Operations for AMP Capital, Chris Nunn, added:

“This market-leading technology is another step towards reducing our carbon footprint, taking us closer to our Net Zero Carbon aspirations and 2030 Sustainability strategy.”

Ben Gill, Head of Country, Australia & New Zealand at BrainBox AI said: “We are very happy to be partnering with AMP Capital to make their entire real estate portfolio more energy efficient and significantly greener.

“BrainBox AI’s goal is to provide real estate owners with the most advanced AI technology in the world that not only autonomously adapts to the changing conditions of buildings, but creates a more comfortable environment for its occupants. AMP Capital’s forward-thinking approach to the integration of technology in real estate reflects the future of building management and what will be required to dramatically decrease our built environment’s impact on climate change.”

Six AMP Capital managed buildings across Australia including 255 George St and Macquarie Centre in Sydney, and Stud Park Shopping Centre in Melbourne, are already in pilot phase trialling this new technology, which will be rolled out across over 40 buildings in Australia and New Zealand by Q1 2021.

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Important Notice

While every care has been taken in the preparation of this document, AMP Capital Investors Limited (ABN 59 001 777 591, AFSL 232497) makes no representation or warranty as to the accuracy or completeness of any statement in it including, without limitation, any forecasts. Past performance is not a reliable indicator of future performance. Neither AMP Capital nor any company in the AMP Group guarantees the repayment of capital or the performance of any product or any particular rate of return referred to in this document This document has been prepared for the purpose of providing general information, without taking account of any particular investor’s objectives, financial situation or needs. An investor should, before making any investment decisions, consider the appropriateness of the information in this document, and seek professional advice, having regard to the investor’s objectives, financial situation and needs. This document is not intended to be and does not constitute financial advice nor a recommendation to subscribe for or purchase any investment by any person in any jurisdiction nor does it constitute an offer, solicitation or invitation to subscribe or purchase any investment in any jurisdiction where it would be contrary to the laws, regulations or directives in force or applicable in such jurisdiction.

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