GuocoLand and its subsidiaries have entered into a series of strategic partnerships with local technology companies to accelerate the digitalisation of its business, aimed at implementing more than 20 digital-related projects over the next two years.
These are part of the group’s efforts to strengthen their property investment and development businesses, affirming its position as an innovative, forward-looking real estate company.
The group will collaborate with local enterprises Airsquire, Groundup.ai, Operva AI, SpaceAge Labs and Doxa on projects that will deploy artificial intelligence (AI), Internet of Things (IoT), drone technology and smart devices, amongst other innovations.
The collaborations, which were facilitated by Enterprise Singapore (ESG), will enable the group to enhance its productivity and efficiency, improve workplace safety standards and mitigate manpower constraints over time. With the support of ESG, GuocoLand is also exploring more initiatives via partnerships with a number of local start-ups and SMEs on other pilot projects.
GuocoLand’s digitalisation drive is expected to boost the entire value chain of the built environment sector, from design, procurement and contracts, construction methodology, site management and quality surveillance, to facility management.
“As we studied the technologies available, we found many cutting-edge innovations being pioneered by local start-ups,” said Cheng Hsing Yao, CEO of GuocoLand. “We decided to support our home-grown companies and collaborate with them to co-create more innovative and sustainable solutions.”
The group will be deploying Operva AI in inspecting the façade of its residential developments. Using drone technology with infrared thermography and AI capabilities, this innovation could replace the traditional water test for detecting leakage in new buildings and aid in pre-emptive building maintenance of older buildings.
Another application of AI in residential developments is the group’s partnership with Groundup.ai on monitoring the well-being of the elderly. Groundup.ai’s predictive algorithm works in tandem with computer vision technology to predict potential falls or distresses based on the person’s past movement patterns.
For commercial technology applications, the group’s partnership with SpaceAge Labs will use wireless IoT sensors, IoT cloud and machine learning to monitor water meters on each office floor and lights in hard-to-reach areas like the crown of Guoco Tower — Singapore’s tallest building.
GuocoLand will also be deploying technology by Airsquire to capture 360-degree site progress inspection photos of projects under construction, enabling project managers to remotely check and compare construction progress virtually.