AI Real Estate Development Benefits

AI Real Estate Development Benefits

by | Apr 24, 2023 | AI, Artificial Intelligence, Radical Galaxy Studio

Artificial Intelligence (AI) is transforming the way we approach the real estate development process.  AI generates data in minutes for owners, developers and investors at an unprecedented level of insight and analytics that previously took weeks if not months to gather. Here are some reasons how AI is helpful for real estate development:

AI for Enhanced Market Analysis in Real Estate Development

AI can analyze vast amounts of data from multiple sources to identify trends and patterns that would be difficult for humans to detect. This information can help developers make more informed decisions about where to invest, what type of development to pursue, and how to price their properties and best use. We spoke with a developer that was using AI to help determine which sites would be best to build car washes on in the Midwest taking into account zoning, traffic patterns and local competition.

Harnessing Predictive Modeling with AI in Real Estate Investments

AI can use data analysis and machine learning to create predictive models that forecast market trends, demand for particular types of properties, and potential returns on investment. This can help real estate developers make more accurate and strategic decisions about their investments.

Accelerating Decision-Making in Real Estate Development with AI

By automating data analysis and providing real-time insights, AI can help real estate developers make faster and more informed decisions about their investments. This can help them stay ahead of the competition and take advantage of opportunities.

Streamlining Operations in Real Estate Development through AI:

AI can help streamline the real estate development process by automating routine tasks and providing insights that can improve efficiency and productivity. This can help developers reduce costs and bring their projects to market faster.

Leveraging AI for Efficient Project Design and Entitlement in Real Estate:

AI can be used to help design a new real estate development that fits within code. Using AI a user is able to iterate design in a fraction of the time it would have taken previously before the advancements of AI tools.

While no tool is perfect and AI can’t fully replace a human, implementing AI into the design/build real estate process is a. As the technology continues to evolve, we can expect to see even more innovative uses of AI in the real estate industry.

 

Life Science Real Estate Marketing

Life Science Real Estate Marketing

by | Aug 19, 2021 | Radical Galaxy Studio

Life Science Real Estate Overview

Real estate owners and developers have increased interest in life science real estate assets with growing institutional investment in the sector led by groups such as Alexandria Real Estate, BioMed Realty, and Kilroy Realty. In the current uncertain environment, what makes life science assets attractive is often the non-cyclical demand and growing investments by governments and investors around the world. The specialized nature of life science real estate often makes clients moving locations less likely given the expense of building out an office and moving equipment. There have been reports in numerous trade publications regarding the high demand for life sciences space in excess of 2 million square feet per year with no slowdown in sight.

Life Science Marketing

Marketing life science real estate during Covid has required a retooling of the branding kit and moving marketing dollars from physical mock-ups to virtual build-outs. It is even more important for life science marketing to be tech-forward in order to attract their tech savvy and location-picky tenants. From complicated HVAC build outs to expensive and heavy equipment; labs require an additional layer of planning. Visualizations and virtual walk-throughs can lead to better planning resulting in significant cost and time savings for both landlords and tenants.

While marketing life science projects like Cascadian, the location being near the city center or other innovation hubs is important, but highlighting what differentiates the property from competitors needs to stand out given the increase in developers building out the space. In smaller markets it could be the amenities, near mass transit or the newer nature of the building, but in markets known for life science offices like Boston, San Diego, San Francisco, Seattle and Los Angeles really gearing the branding and messaging becomes paramount.

Having visualizations, whether it’s a fly-through animation, still renderings or virtual reality is an important element of asset positioning in attracting tenants. The immersive experience provides clarity to potential tenants about the project and surrounding areas and helps pinpoint key elements that are most important to them and deliver the feedback in a faster and more effective manner.

Virtual Tours for Real Estate During the Coronavirus

Virtual Tours for Real Estate During the Coronavirus

by | Apr 14, 2020 | Radical Galaxy Studio, Virtual Tour

Today’s real estate market is unrecognizable to most of us. Construction is crawling, existing buildings are empty, buyers are backing out, tenants are requesting rent relief and businesses of all kinds are either closing or significantly reducing staff. These trends are expected to continue for the foreseeable future, which, needless to say, is causing headwinds for real estate participants. Owners and brokers, for example, are now scrambling to improve their digital presence and somehow show their property remotely.

Showing a property to a potential buyer or tenant remotely is not new, but the delivery method has changed. Over the years there have been large advancements in technology for built spaces, this includes tools like Matterport. However, technology has often lagged for pre-construction, old or raw spaces, with owners still relying on in-person sales offices and expensive model units.

In an effort to work remotely, many owners are using video conferencing tools such as Zoom or Microsoft Teams to pitch clients about the property. These platforms are great for having a conversation, but if there is limited digital content, the calls often fall short. In today’s market, having a competitive digital presence means a sophisticated website, fly-through videos and a virtual tour experience.

One of the companies active in the virtual tour space is Radical Galaxy Studio, which has been making advancements to improve virtual real estate experiences. Even if an owner wanted to show what a vacant office space would look like for a tech or medical tenant, Radical Galaxy could build that out.

“As a real estate asset manager, I saw firsthand the impact of new technologies on the way we design, develop, manage and sell real estate,” Bradley Snyder Managing Partner at Radical Galaxy Studio commented. “Not only can tenants and buyers no longer tour a property or space in person, but even when they could, often they could not visualize what it would look like fully built out.”

One of the interesting aspects of virtual tours that is often overlooked by owners is the SEO and branding benefits. Compared to 2D content, 360/virtual content receives 300% more click-throughs, as well as resonates better with tech-forward professionals, per an Omnivirt Study.

“Most real estate properties are long overdue for a digital update, but all of a sudden now having strong digital content can make or break a property’s success,” said Matthew Shaffer Managing Partner at Radical Galaxy Studio. “Using virtual tours will become part of the new normal in the real estate industry for both commercial and residential assets.”

About Radical Galaxy:

Radical Galaxy Studio, LLC is a visualization firm that is pushing the boundaries of what can be done in real estate design, sales and leasing. Radical Galaxy creates virtual tours, CGI animations, motion renderings, still renderings, augmented reality and virtual reality for industry leading firms including Oxford Properties, Brookfield Properties, Perkins + Will, Marriott, Cushman Wakefield and Hyatt Hotels.

Using Augmented Reality for Wayfinding

Using Augmented Reality for Wayfinding

by | Sep 5, 2018 | Augmented Reality, Radical Galaxy Studio

As exciting as exploring an unknown territory may be, it can also pose some challenges. Many, in fact. Thankfully, a new wave of augmented reality infused wayfinding apps are popping up, providing consumers with an efficient way to find their way around, just about anywhere whether it’s at a hospital, airport, concert venue or looking for your car at a shopping mall. By holding their mobile devices, the apps are navigating you through places that have been traditionally tough to navigate, eliminating the stress of senseless wandering.

What is Wayfinding?

Wayfinding comprises all the ways in which individuals position themselves within a physical space or find their way between two points. It is of particular importance and therefore a valuable asset when one is attempting to orient themselves in complexly built environments, such as healthcare facilities, college campuses, airports and shopping centers. As architectural sites become more intricate, aids such as maps, directions and symbols to help with destination guidance are a must have.

Traditionally the main tools for wayfinding have been signs or maps that points people in the proper direction. While these are helpful they are not the most efficient tool to get a person from the entrance of a hospital to a specific waiting area or from one stage to another at a music festival. With the advancements in bluetooth beacons and phone hardware, creating augmented reality wayfinding experiences is the future of wayfinding.

Augmented Reality Wayfinding

AR is being used as a major enhancement element in wayfinding, to highly favorable reviews from both the industry and the end users. The accolades seem justified due to the dramatic advancements in hardware. Customers can now be guided through a store with directional prompts overlaid onto the real-world setting to navigate them through the most efficient route. The AR system can also be used in more complex scenarios, such as finding a way to a airport restaurant or even a specific bed in a medical facility complex, where your starting point is the entrance.

A person can walk into a completely unfamiliar environment to them, where they have no prior knowledge nor information associated with the particular arrangement of a facility. Using an app on their iPad or iPhone, they can be notified about specific objects and take an interactive tour of this environment from anywhere and also, navigate themselves all the way to their destination.

AR boosts the effectiveness of navigation devices by not only displaying destination directions and the trip length but also alerts to possible hazards that the user may encounter on their path.

Augmented Reality at the Airport 

A UK founded indoor navigation startup has obtained a $104,140 contract to test Bluetooth location tracking in US airports, where tiny beacons are installed around a venue which smartphones can pick up for navigation purposes, where normal GPS systems may be lacking. In London, Pointr has already been installed in numerous locations, including Gatwick Airport, allowing users who download the app to locate directions via arrows that appear on the floor, leading them to their desired location or a product.

Another project that is aiming to drastically upgrade Europe’s air traffic management is RETINA. By leveraging AR technology, they are looking to provide airport control tower staff with tools that enable them to tackle the constant difficult and busy conditions they’re faced with in a safer and more efficient manner.

Augmented Reality to find Your Car

Ever have difficulty in a parking garage trying to find your car and end up searching for hours? Augmented Reality can be used in conjunction with bluetooth beacons to get directions to your vehicle. An app can be used to locate your car and is not limited to just lost cars but can be used to find your way to essentially anything you need to find your way to – or back to.

Augmented Reality at Concerts 

A company called Neon has created an app, titled the same, which allows users to leave 3D AR messages, allowing them to map their location. The mapping system searches for your contacts around you, promising to locate a friend that may have gotten lost in a concert or music festival crowd. Essentially, you’d simply need to tap the person you are trying to locate and you’d be able to see how many meters away from you your lost friend is, followed by an appearance of an arrow that would lead you to them. Especially at noisey concert venues where it is hard to make phone calls or get service, this tool can provide people comfort that even if you get separated from your group, they have a way of finding you.

Conclusion 

Pairing AR with tracking and sensing technologies have a transformative potential in the many venues of application. Since  mobile devices carry the ability to transfer contextual information, the integration of AR carries both evolving and wide use qualities. Seems like a no brainer to use AR instead of or conjunction with tradition forms of navigation.

Augmented Reality in the Medical Field

Augmented Reality in the Medical Field

by | Aug 16, 2018 | Augmented Reality, Medical, Radical Galaxy Studio

Augmented Reality (AR) has officially surpassed the ‘new kid on the technology’ scene status and is gaining some bona fide star accolades in a variety of industries that have opened the door to this game-changer. AR use is growing in popularity and consumer use in retail, cosmetics, real estate, tourism and healthcare in both end-user engagement and daily work lives of industry members.

A report on virtual reality (VR) and augmented reality (AR) released this spring by Perkins Coie LLP pinpointed education, gaming and healthcare and medical devices as the top three sectors where the major investments in VR and AR are to happen over the next 12 months.

Our previous blog examined and explained how the healthcare industry is using Virtual Reality in various, industry spanning ways and applications. This piece will introduce you to the exciting ways in which AR is being used to improve training of healthcare professionals, assisting them in their daily tasks and changing the overall landscape of the industry by transforming the process of diagnosing and treating patients.

AR Improving Medical Training

We will start the list of AR’s numerous benefits and applications within the healthcare industry with the most practical one: groundbreaking training methods of medical staff. Information retained through visual and physical motions has been proven to last longer in the memory of students.

Take, for instance, one of the most dreaded things to master when it comes to medicine – the human anatomy. By use of 3D visualizations, an AR device provides the end user with information in the form of texts and videos that nearly place one into the human body itself.

Microsoft HoloLens along with Case Western Reserve University (CWRU) and Cleveland Clinic has created a way for medical students to view the human anatomy in a more realistic way than ever before. The HoloAnatomy software, which is built on top of the Microsoft HoloLens technology, allows students to access models of the human anatomy to study them up close from any angle at their own pace.

HoloLens also developed a way for students to view the different stages of pregnancies and analyze the differences of each stage within the body.

Another system that has gained attention in recent years is ARantomy. Using OCR technologies, information is tied up with almost all parts of the human anatomy. Users can even manipulate AR markers that are displayed on the skeletal models.

This glimpse into the future of AR as a training tool is not only edge-of-your-seat exciting, but greatly encouraging and beneficial for both medical staff and patients.

AR Improving Doctor Accessibility

Our planet’s ever-growing population is posing some serious challenges when it comes to healthcare access for those who aren’t able to gain face-to-face access to a medical professional. While many of us may take this for granted, a vast chunk of the population is not that lucky and thus, a new concept such as Telemedicine can be a literal life-saver. An app called Proximie allows a specialist to use AR tools to collaborate and guide a colleague in surgical operations from anywhere in the world. It works in real time, giving doctors access to critical knowledge and better serve patients.

Assisting Healthcare Professionals

Just like I mentioned above, AR can be used to assist medical professionals in surgeries and other forms of healthcare. Dr. Rafael Grossman performed the first AR-assisted surgery in 2013 using Google Glass. This system allowed him to see both the exterior and interior views during an abdominal procedure. He could see the necessary views to conduct the surgery without using his hands, speeding up the process of the complex procedure.

Since then, there have been many advances to using AR to assist in surgeries.  Atheer created AiR Glasses that enable healthcare professionals to view vital information in real time and in their field-of-view. It also allows users to interact with the information using voice commands and motion tracking. In surgery or communicating with other professionals, this technology is a useful and more effective way to stay on task.

Applications of AR are also implemented in other forms of healthcare, besides surgery. A good example of this is AccuVein, an AR app that helps healthcare professionals locate veins for IV’s. Locating veins can be quite challenging as some people, mostly the elderly, have weaker and smaller veins than others. Using the AccuVein scanner on the patient’s skin, an image of the underlying skin is projected, showing you where the vein is located. This method is reported to produce a 350 percent improvement on first stick rates. In turn, medicine and anesthesia is being delivered more rapidly, cutting down wait time for doctors and patients. More funding is being raised for AR medical applications such as these to make the overall healthcare system more efficient and accurate.

Diagnosing and Delivering Treatment

As you can see, this technology has a ripple effect within the healthcare industry. One application of AR can be used in a variety of ways. As mentioned earlier, AR glasses that load information in real time to your field-of-view can be used to deliver treatment. Rather than looking through paperwork or making the time to write everything down, you can easily access critical patient information with the use of glasses. This eliminates the need to sort through paperwork and lets you update the information in real time by talking or interacting with the information in front of you.

Using AR to diagnose patients is a new and perhaps, the gutsiest concept of all others we examined. There are applications for modeling of the human anatomy which make surgeries easier, but companies are now taking a leap by trying to use AR to aid doctors in the intricate process of patient diagnosis.

Google is working with doctors to develop an Augmented Reality Microscope (ARM) to identify cancer cells. This microscope can see images along with a doctor to help them identify cancer cells. The microscope analyzes the image and overlays the image with information that the doctor can use when trying to identify cancerous cells, serving as an instant second opinion. Importantly, ARM doesn’t replace the doctor, but rather serves as an added tool to determine a prognosis.

Google says this is the beginning. They predict that this application could be used to diagnose a number of diseases in the future.

Conclusion

Witnessing the astonishing transformations AR is making in such a vital and all-important industry such as healthcare is a cause for excitement.

If the main purpose of technological inventions is to simplify human life, AR is a textbook example of this – and then some. The time is now and the foreshadowing of new advancements to come are both encouraging and exhilarating.