Now, the Smart homes have become more than a concept. The underlying technologies- IOT and AI are magnifying the dynamics of smart home and making them highly popular with the utmost convenience they offer in managing the home whether you are away from the home or inside the home. Going ahead, the smart appliances know which household member speaks to them and make the adjustment according to their preferences by detecting and learning the patterns with AI.
The smart IoT technology is opening up new doors of opportunities and innovative use cases that will disrupt the way smart home is managed. Although, the smart home is still in its infancy stage and numerous companies are working on the smart devices to make the home automation concept a great phenomenon.
“The global Smart home market size is projected to reach an enormous $53.45 billion by the year 2022growing at the CAGR of 15%.”
The incredible growth indicates that smart home is the future of household, that’s driving real estate market to get in on the smart home bandwagon and draw the clients. Be it building new homes, rental apartment or vacation properties, the home automation has become the top attraction to increase revenue and entice the customers.
Taking a step back, the real estate firms are using augmented reality (AR) and Virtual reality (VR) technology to better market the properties and enable the clients to take a tour of the property even before the house is actually built. This is giving an edge to the real state firms in the competition with the ability to showcase how the smart home is turning Sci-Fi into a reality.
Let’s take a quick glance at how AI and IoT combination is shifting the real estate towards smart homes with the implementation of different smart home devices and what are the primary drivers accelerating the smart home adoption:
Security stays at the top
With smart locks, you can lock or unlock the doors remotely at the tap of a button and get rid of the need to safely carry the physical keys with you.When anyone tries to trick the lock with the wrong intention, you will get an instant alert for the same.
The smart cameras keep recording the video and automatically upload it to the cloud for easy storage and playback. When it figures out the presence of a human figure at home without an authorized entry, it immediately alerts the owner to take prompt action.
The security alarms when sense the blaze or smoke, each member of the house is notified and every member is required to acknowledge the alarm. Later, the alarm guides every member for the safe route based on their location that helps them evacuate safely. Also, every member of the family is aware of the rest of the house occupant’s position which relaxes them with the fact that they know about fire and attempting to comeout of the house. The security devices by reducing the risks diminish the insurance costs.
With distinct home security devices, the smart homes are getting safer with IoT and AI, but these technologies are prone to the security threat.
Gartner research has reported that the connected devices, from coffee maker to smart lightning to CCTV cameras, will reach the figure of 20.4 billion by 2020 across the globe. The improved connectivity has led the security fear with AT&T reports according to which 3,198% increase in attackers is found in the last three years that are injecting vulnerabilities in the IoT devices. It indicates that the developers have to take the necessary measures to not leave a security hole in the smart home applications that will turn the device managing home security into an intruder.
According to the U.S. Department of Energy, heating and cooling in the home account for nearly half of the utility bills. It signifies when the temperature of the home is maintained efficiently, the environmental loss and financial loss can be prevented. Here smart thermostats are a big help.
The connected thermostat, which is connected to your Smartphone over the internet, allows you to adjust the temperature remotely. When AI-based thermostats are implemented, they instead of relying on the schedule, create a programmable schedule based on the environment temperature and user preferences. This way the home temperature can always be maintained without human intervention.
The smart thermostats like- Nest also learn the HVAC system and ensure the home condition always remains healthy by maintaining the acceptable level of temperature, humidity, and air quality by exchanging the air from the outside and adjusting the AC temperature. Your home will always stay healthy and provide thermal comfort with no unpleasant smells and excessive moisture with remote access over HVAC system.
“Make me a coffee.” Yes, just the statement you will be saying to coffee maker machine and it starts brewing coffee for you. Or, in another case, a more futuristic approach the intelligent coffee maker analyzes your sleeping patterns, weather data, traffic conditions and calendar together to find out the best time you will wake up and then put the kettle on to brew a cup of coffee.
IoT with AI together for smart homes could provide a 24/7 personal assistant just for you. Not in reality, but virtually, the smart home is your next PA who will always be with you on mobile when you are away and make the appliances work as you desire, or the appliances will work as you command over voice in the home.
There are plenty of devices available in the market that’s adding smartness to the kitchen from Fridge cam that lets you look inside your fridge to check what you need to buy in the market to the Anova Precision Cooker that lets you cook food even while you are at work (You just need to drop the dinner in the water bath in the morning and when you’re back, the food will be ready).
When you are busy in cooking session, the smart speakers would be a lifesaver that lends you hands in the kitchen by working on your voice commands such as set the alarms, add items to the shopping list, play the music and so on.
Control the lights
The smart lighting is a small step towards making your home smart and a little hi-tech. With the smart lighting solution, you are not required to make big changes in the house, while it’s about installing the smart lights in the home for improved convenience.
The smart light lets you control the light status even when you are away with the establishment of a connection between your Smartphone and smart lights. A single tap and you can switch on the lights of the complete house or the specific room. Besides, you can set the timer for lights scheduling to perform routines. During an event at the home, the color or hue of the lights can be changed to customize the look and feel of any room. For example, when you are playing a video game and want to cycle the colors to match various activities, sounds, and explosion, it can be done at the flick of the switch.
Philips Hue, Flux, and Ilumi are some of the smart lights or bulbs that have mobile app companions which lets you switch on/off or adjust the colors anytime, anywhere.
Smart speakers The smart speakers, be it a Google Home, Amazon Echo or Homepod, have become an integral part of the smart home that direct the connected devices and appliances to work as the homeowner speaks, but the smart speakers control only those smart home devices that share the compatibility with a specific type of speaker. In this manner, they double the control over smart homes and works as a personal assistant for all the family members.
They can play the music, call a friend, search a recipe, remind you of the events, turn off the AC or change its temperature, open the ventilation, provide the news updates and a ton of things when you command over voice.
The technology transformation is ushering a new era of real estate industry, which has completely revolutionized how the homes are built, marketed and used. It’s rapidly leveraging IoT and AI to create smart homes that dramatically displace the routine and the monotonous jobs will be taken up by the machines. The future of smart homes will be as smart as we cannot even completely imagine today.
By augmenting the degree of intelligence, the real estate is triggering the phenomenal changes in the smart homes that are enhanced safety, lower costs, reduce losses, improved customer experience, and increased convenience.
The tsunami of disruptions will happen a lot faster even before the people expect. This has become an irresistible force with massive opportunities and it’s time to create a strategic plan for IoT and AI. Look no further and get ready to leverage the disruptions from IoT and AI.