The Internet of things is a fascinating concept and this is how it all comes so neatly wrapped and will get better over time BUT only if you get involved and use it.
Topic – Top 5 Prop Tech developments of 2018
Mentor – Kylie Davis
- What is it?
- The ultimate connectivity
- Smart learning by devices
Developing your leadership style – Jacob Aldridge. How important is it for leaders to remain excited about their agency?
Kevin: Okay, it’s time for an explanation. I said yesterday at the end of the show that my guest, Kylie Davis, would be back and she’d tell us about the Internet of Things and big data. Kylie, of course, our tech expert, and will be joining us at the Inman Conference in New York. If you haven’t caught up with that, we’ll be there at the end of January, and we’ll be streaming content, live. We’re going to package up a couple of hours of content every day, stream it back, live, a couple of times during the day, actually. That’ll come straight from the Inman Conference in New York. We’ve got an opportunity for you to join us, too. Use the button on the top of the home page at RE Uncut, and that’ll tell you how you can join us in New York.
Kevin: Hey, Kylie. Kylie, tell me about big data. Tell me about the Internet of Things. What does it mean?
Kylie: Well, the Internet of Things is one of my favourite things. It’s basically any device that you’ve got around the house, or even as part of the construction of your property, or anything really, but let’s keep it to a real estate example. It’s any device that at the moment is probably a bit dumb but can have some smarts put into it and connect it to the internet, to start to give you information about itself. So things like-
Kevin: Television? Would that be one of them?
Kylie: Sort of, but think dumber than that, even.
Kylie: Things like your hot water service.
Kevin: You’re joking.
Kylie: Your dishwasher.
Kylie: Yeah, your toilet, if you want to go down that path, but we’ll keep it clean.
Kevin: Yeah, please. Yeah. I could understand a refrigerator, and that’s … I’ve been waiting for this innovation, I believe it’s here now, where your refrigerator will actually jump on the internet when you run out of butter and order more, so it can get delivered. You know, keeps a inventory.
Kylie: Yeah, absolutely, if you want it to. But then also, things like hot water services, elevators, dishwashers, any electronic device that we use at the moment. The next world that we’re entering with them is things where, at the moment if they break, you sort of go, “Oh, it doesn’t look like it’s working, oh,” and then you sort of do things to test it and it’s like, “Oh,” and so you lose time doing that, and then you have to ring someone.
Kylie: Whereas what we’re heading very rapidly towards is those devices having the chips inside them to say, “Oh, hang on. I’m either overdue for routine maintenance,” and booking their appointments, or booking their own maintenance, running their own scans and tests to make sure that they work all the time. Or when they don’t work, reporting their errors back to base.
Kevin: Okay, this is almost like the ultimate connectivity, isn’t it? Everything’s going to be connected.
Kylie: Well, it is, yeah. Yeah, and it’s not so prevalent here in Australia, but in the US, Google have a product called Nest, which is, basically it runs your home for you. So it manages your thermostat, and it manages … it can turn your lights on and off, and then that’s also connected to Google Home, which is starting to pick up here in Australia. And so you can start to tell the … you know, the Internet of Things is capturing data, recognising how many times it’s turned on and off all of these things. How often it’s failing or where parts are breaking, all that sort of stuff, but then you’ve got that voice activation over the top of it, that lets you tell it what to do or interact with these devices.
Kylie: So what we’re seeing in the US is sort of the Google Home or Amazon Alexa being at the centre of everything that’s going on in your home. And in the rental and in the property management space, things like a company called Zenplace are working on ways so that when a tenant has an issue with something in the property, they can either log it, they can say, “Hey, Google, the dishwasher’s not working, can you log it?” And then that would report it through to the property management.
Kylie: Or, say, hot water service is a good example. Google can say back to you, “Well, have you checked the pilot light?” “I don’t know how to do that. How do I do that, Google?” “Okay, this is where you’ll find the pilot light. This is what you should look for,” and to start to give you instructions. If you think about how powerful that is, is that you’re no longer having to wait till the morning when the property manager’s in the office. Ring them, wait for … do the seven phone calls backwards and forwards while you miss each other to tell them what’s going on. Wait for them to send someone round, in which case you could be out of hot water for a couple of days. It can solve all those problem really quickly.
Kevin: Quickly. Yeah, feedback’s imperative. It is so critical. When you send an email, I find myself sometimes sitting here-
Kevin: … waiting for a response. Whereas, with what we’re talking about here, that response can be immediate. The other day, we were talking about … I think it was the first day, Monday, we were talking about AI, and how robots can respond quickly. So consumer expectation is rapidly increasing, so we’ve got to keep up with this and be ready to meet those demands.
Kylie: Yeah, absolutely. Where this gets really exciting, too, is because these devices will be capturing data both on themselves and a little bit about what’s happening around them so much, it starts to really impact on how we innovate further. So that example of the thermostat, for example, in your house, in Australia it’s more probably going to be managing air conditioning, or heating if you live in Melbourne or Tassie.
Kylie: But if you have a device that you can walk out of the house and realise, actually, I have forgotten to turn it off, and turn it off on your phone. Or it knows that you come from work at 6:00 every night, and so it turns itself on in readiment for you. Then the amount of energy that gets saved is phenomenal when you times that over every single house across the country. Which means that greenhouse gas is improved, and so it then starts to really have an exciting impact around how we’re living in the planet.
Kevin: Yeah, well, my phone’s actually monitoring what I do, where I go. If I have an appointment to go somewhere at a certain time, it picks up where I’m going, and then it’ll tell me what the traffic conditions are like from where I am to where I’m going, and that’s happening automatically. I find that a … that’s a great tool because I don’t have to worry about traffic and it tells me what I should be doing. I’m not a control freak, and I don’t mind these things happening this way, but it probably could be a bit disconcerting for some people.
Kylie: Well, I think so, and I think that’s where the voice activation makes it a lot friendlier, because there’s nothing … One of my great bugbears about life at the moment is that my eyes are exhausted constantly because I’m always peering into a screen-
Kevin: On the screen.
Kylie: … but I love my Google Home because I just say to her, “Hey, Google, make an appointment for Wednesday at 10:00 to talk to Kevin,” and she puts that in my diary, rather than me having to go and find Calendar and open it up. And we’re seeing the adoption of the smart speakers in our homes just go through the roof. So I think they were expecting 50 million units to be … by the end of 2018, to be in the US, and they’re already well over that. And by 2020, they were saying 138 million, but in fact, it’s probably going to be, on the basis of how quickly they’re being adopted, it’s going to blow that out of the water.
Kevin: Time to go. Hey, one thing before we go, Kylie, if I could. There is another solution to your sore eyes, it’s called eye drops.
Kylie: It’s called turning off for the night, I think, too.
Kevin: Okay, we’ll look forward to catching up tomorrow. We’ll round this series out. I want to talk about customer service and the pain points, and what we’re doing there. Kylie Davis is our guest. Kylie is from realcontent.guru. Reach her through the link that’s on all the pages on RE Uncut, and we’ll be back again tomorrow with Kylie Davis. Thanks, Kylie. Talk to you then.
Kylie: Thanks, Kevin. Speak soon.