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.

What is BrainBox AI?

BrainBox AI is the world’s first autonomous AI HVAC technology. It predicts changes in building operations, occupancy and weather to automatically control temperature in a building, ensuring the highest tenant comfort and the most efficient use of energy.

By using deep learning AI models, the technology predicts the temperature in every zone of a building with 99.6% confidence, regardless of building size. The solution then determines the optimal manner to adjust the system, then actions that instruction by writing back directly to the building controller.

The BrainBox AI solution is currently being deployed in the following AMP Capital managed buildings:

• Macquarie Centre, Sydney
• Dapto Mall, Wollongong
• Stud Park Shopping Centre, Melbourne
• 255 George Street, Sydney
• 33 Alfred Street, Sydney
• 124 Walker Street, North Sydney

About AMP Capital

AMP Capital is one of the largest and most experienced direct real estate fund managers in the Asia Pacific, with more than $27 billion in funds under management as at 30 June 2020. AMP Capital offers institutional and private investors access to real estate equity and debt opportunities globally through a range of wholesale funds and separately managed solutions.