Sansiri Plc, one of Thailand’s leading real estate developers that is listed on the Stock Exchange of Thailand, has announced its plans to adapt artificial intelligence (AI), blockchain and Internet of Things (IoT) technologies into its business operations.
Sansiri says that it will introduce smart home show units that are capable of machine learning, as well as a technology-enabled sales gallery for residential projects. The company said that it plans to invest $18 ~ 20 million USD this year and that is has a goal of becoming an “AI-first organization” by the year 2020.
Tawicha Trakulyinyong, the Chief Technology Officer of Sansiri said in a media interview, that in 2017 the company decided that a core component of its long-term strategy is to become more data driven and to implement the use of data analytics in its future property projects.
Through the use of AI technologies, the company will be able to provide personalized services to customers, offer investment and property recommendations that are customized to each customer, and provide chatbots on its platforms to provide prospects and customers with product information.
A customer using a Virtual Reality headset to view real estate
The company will also use AI to analyze the construction aspects of its projects and analyze the potential of new projects before they’re started. It expects that the use of new AI technologies will bring greater transparency to real estate transactions, creating greater customer “trust” while streamlining the decision-making process of prospective buyers.
In the area of blockchain technology, Sansiri plans to partner with Amazon Web Service, Digital Ventures and Microsoft to understand how blockchain technologies are being used in real estate around the world, such as establishing payment gateways, and then plans to introduce the “best” systems and practices into its Thailand operations.
The company is also bolstering security at its properties by connecting them together through a Smart Command Center that will provide 24-hour security to residents in all 29 low-rise and condominium projects that the company is developing this year.