In episode 147 of the Asset Champion podcast, host Mike Petrusky speaks with Paul Doherty, IFMA Fellow, DFC Senior Fellow, and President and CEO at The Digit Group, Inc. (TDG). First, they cover the practical applications and implications of artificial intelligence (AI) in facility and asset management. Then they explore the evolution of software, the importance of asking consequential questions, and the role of technology in making the built environment more efficient and transparent. Doherty shares why he believes the industry will eventually rely on AI agents to manage buildings through natural language commands, making processes more intuitive and efficient. He also discusses how blockchain and spatial computing are leading to a more performance-driven approach to facility management.
Agenda
- Impact of AI and new technologies on facility and asset management
- Applications for AI agents and the transition to disposable software
- Role of facility managers in an evolving technological landscape
- Practical applications and importance of asking the right questions
What you need to know: Facility and maintenance takeaways
Takeaway 1: AI and blockchain are merging to transform facility management into a proactive, interconnected profession
Facility managers are about to experience significant transformations across the industry.
“It’s no longer a passive sport. It’s an active sport. It’s full contact,” Doherty explains.
The integration of AI and blockchain is leading to a more connected and transparent built environment, where facility managers can interact with their buildings through natural language.
“You can literally talk into a phone and say, ‘Building number 2, how are you feeling today?’ And it’ll respond to you with, ‘Well, I’m OK, but I think you should check on the 2nd floor that air filter needs to be changed,’” he says. The shift not only simplifies complex tasks but also enhances the ability to manage and maintain facilities more effectively.
Doherty describes how departments are also exploring the practical applications of these technologies, such as in the California Community College system. By integrating narrow language models, these systems can now provide real-time insights and alerts, making facility management more proactive. “The AI goes into the spatial computing platform, figures things out, sees the deltas, you know, the changes or the things that are just not normal, and reports back to you,” he says.
The approach not only streamlines operations but also builds trust in the data and the decisions derived from it.
Takeaway 2: The rise of AI agents is changing the relationship between facility managers and software, making it more intuitive and user-friendly.
The advent of AI agents is reshaping the way facility managers interact with software.
Doherty explains: “Agents are a way for people to control the software as a disposable product.” So, the traditional monolithic software systems, which often required users to adapt to their limitations, are becoming obsolete. “Those days are gone. Now it’s about process and workflow.” Doherty highlights the practical benefits of the shift, such as reducing the time spent on repetitive tasks. “Searching for information, which 40% of your workday is searching for information. What folder I put it in blah blah blah blah, goes away,” he explains. By using agents, facility managers can focus on higher-value tasks, such as strategic planning and problem-solving.
Doherty also emphasizes the importance of asking the right questions to get the most out of these AI agents. “What gets very interesting is what people are doing with agents, because that is narrow language models. We’re limiting the amount of information that’s there so that we have expertise, subject matter experts are what we call them in the world of management consulting,” he says. The approach ensures that the AI provides relevant and accurate information, which is crucial for making informed decisions. “The answers will emerge. But we have to be smart enough to understand, that’s a very, very infantile answer,” he adds, underscoring the need for facility managers to develop the skills to interpret and act on the information provided by AI.
Takeaway 3: The integration of AI, blockchain, and spatial computing is creating a more transparent and rewarding environment for facility managers
The combination of AI, blockchain, and spatial computing is set to change the role of facility managers, making the job more transparent and rewarding.
Doherty highlights the potential impact of tokenization in the built environment: “When we hear the word token and all of a sudden your building is suddenly tokenized because the value of the real estate can be tied to cryptocurrency.” This integration means that the quality of building operations directly affects the bottom line, creating a more transparent and accountable environment. “Now your job as a facility manager changes, because the quality of how your building operates is directly affecting your bottom line, and you can see it, because you’ve used a token, you’re now playing the game,” he said.
Maintenance management insights
- AI is transforming how facility and asset managers interact with their environments, making it easier to manage buildings through natural language and voice commands.
- The concept of “agents” in AI is enabling a more dynamic and interactive relationship with data, moving away from traditional monolithic software systems.
- The transition to disposable software, where features and functions can be created on demand through AI, can reshape the industry.
- Facility managers need to embrace new technologies to stay relevant and efficient, and ignoring AI could lead to obsolescence.
- The integration of blockchain, IoT, and spatial computing is creating a more connected and transparent ecosystem, which enhances trust in the decision-making process.
- The future of facility management will involve a closer integration of the digital and physical worlds, potentially changing how facility managers are evaluated and rewarded.
Do a deep dive into more asset management insights by exploring all Asset Champion Podcast episodes.
