Facility management is a vital part of operations for most organizations, as it improves operations and a company's efficiency. In the wake of the pandemic, many companies are paying more attention to creating a space that is efficient and functional. It is suggested that the industry is valued at $100’s billion globally, it is essential therefore thatsystems, technologies, and people are integrated to enhance their facility's operations.
As companies are paying more attention than ever to the facility management needs and requirements of a building, the FM tech trends that are being used will continue to evolve as they help save on costs, increase efficiency, and manage risks. Here are the few key tech trends that you will be seeing more of this year:
Blockchain
With the development of Bitcoin and other cryptocurrencies, blockchain technology has risen as a popular way for people to digitally store data safely. The International Facility Management Association has said that “Blockchain has the potential to change the way facilities are managed, ranging from work order tracking to preventive maintenance to life cycle assessments.” It can help streamline information necessary to properly implement facility management practices.
This cloud-based system allows organizations to function on a more technology-driven scale. It increases trust and transparency between employees and management as well as making communication easier. It is also easy to maintain and can be used in different aspects of company operations like contract management and monitoring employee time input. Microsoft, Nvidia, and Tencent are just a few companies that have implemented its use in their business practices. As facility management focuses on creating a working environment that promotes comfort and ease, the integration of blockchain technology in business practices was inevitable.
AI technology
Artificial intelligence (AI) systems are another innovation that has become a mainstay in many business practices. They allow computers and automation to take over menial tasks that help improve efficiency in the workplace. This includes such areas as energy monitoring, space planning (especially if social distancing will be implemented), and even security monitoring.
Scientist Melanie Mitchell wrote in her book on Artificial Intelligence that people are scared of AI because they believe that it will replace human workers and surpass human intelligence in the future. But she highlights how the use of AI has been successful over the years, improving the logistical operations within an organization’s facilities. Companies like Amazon and Google use this technology to streamline workflow and ensure that they are maximizing the use of all their resources. In 2022, AI will most likely become the norm for most if not all companies improving their facility management.
Data analytics and KPIs
Another way technology has changed the trends within facility management is that it has put a bigger emphasis on data analytics. Forbes explains that analyzing trends and information allows organizations to create effective improvement strategies, replace guessing with true insights, and deliver truly valuable information.
It is also important to set Key Performance Indicators (KPIs) to ensure that there are clear goals to be met and whether your organization is reaching them. This can include whether the maintenance of your space meets the adequate metrics, whether operation costs are maximized, and whether employees are satisfied with their working environment (comfort and productivity factors) as well as the working area they are given. Data analytics plays a big role in being able to understand whether you are hitting these goals or not. Our Facility Management Solutions offer consultations to help you determine what KPIs you should be targeting and how to best achieve them. Our bespoke services are tailor-fit to all our clients, ensuring that you are meeting your full potential in terms of facility management.
Facility management is an important part of an organization’s overall success and tech has become a driving force when it comes to its improvement. These are just some of the ways today’s technology is affecting the industry’s trends.
Synopsis:
The article tackles trends that are currently changing the facility management industry and how companies can utilize them to their advantage. The trends discussed in this piece are blockchain technology, AI technology, and data analytics. The article shows the benefits of technology in facility management and how it is revolutionizing operations.
Author Bio: Michelle Asha Cooley is a technology and business writer. She likes to use the knowledge and information she has gained to educate professionals all over the country. When she isn't working, she likes to read different books while listening to jazz music.
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