AMP rolls out AI to cut real estate carbon footprint

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AMP Capital will be the first to introduce an energy saving artificial intelligence technology across their entire global real estate portfolio.

This AI technology will aid in reducing their carbon footprint by 20-40% through regulating energy use and building comfort based on outside temperature and occupancy inside the building.

This technology will decrease energy spending by up to 20% as it predicts the temperature in every zone of a building, regardless of size, with 99.6% confidence.

Built by Canadian company, BrainBox AI, this autonomous HVAC system will be introduced across AMP Capital’s entire managed real estate portfolio, including CBD office buildings, retail shopping centres and logistics facilities.

“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,” said Daniel Lepore, head of asset technology at AMP Capital.

“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.”

Lepore continued, stating that the technology “also considers occupancy when producing its predictions, which is crucial in current times when this is hard to predict”.

“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,” said Chris Nunn, head of sustainability and platform operations.

The AI will be in over 40 buildings across Australia by quarter one of 2021 and is already in pilot phase at six AMP Capital managed buildings including 255 George St and Macquarie Centre in Sydney and Stud Park Shopping Centre in Melbourne.

“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,” said Ben Gill, head of country, Australia and New Zealand, at Brainbox AI.

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