Soon, a “Smart Home” Will Just Be a Home

As the line dividing the internet and the physical world blurs in ever-increasing ways, it shouldn’t be a surprise that online amenities have arrived in the modern home. The growth of smart homes is predicted to increase massively over the next few years, and it’s not hard to see why. They offer convenience and a modern sheen to home living, but more importantly a high-tech layer of security that empowers homeowners to better keep their dwellings and family members safe.

The pitch is a compelling one to homeowners, as well as to investors. According to statistics provided by Statista, analysts anticipate that revenue in the smart home market will grow 15.43% year-over-year. Household penetration currently stands at 27.5% and is further projected to hit 47.4% by 2023. Smart homes are undoubtedly popular; for investors, the growing market could prove lucrative.
Here’s why homeowners are flocking towards smart home technology — and why tech-savvy real estate investors should take notice of the increasing consumer interest.

Staying guarded through tech

The most vulnerable point for most homes is the most common point of entry: the front door. Experts estimate that over a third of burglaries result from unlocked or unsecured front doors, meaning a safely locked entryway can be among the best deterrents from intruders. Smart locks that are activated and deactivated remotely via your home wifi leave homeowners secure in the knowledge that their homes are safely protected while they’re not there. Security-enabled apps like Nest can monitor the status of all entryways, meaning front or side doors can be unlocked for trusted guests or service workers while you’re at work or on vacation. Alerts to your phone can let you know if doors have been breached, meaning you’ll know the instant your home security company does that there’s been a break-in. While this won’t replace being actually there to survey the trouble, it provides some peace of mind to know your home tech is keeping you apprised of all that’s happening while you’re out of reach.

Danger alerts at the speed of WiFi

Crime isn’t the only major danger that smart tech can help homeowners face. The danger of house fires hasn’t been eliminated with technology, but cutting-edge smoke detectors offer a level of security that can only be found when including the most modern safety features. Photoelectric sensors can identify fires by type, catching even smoldering fires with little flame sooner than traditional detectors can. Linked to a smart home sound system, a smoke detector can even use voice notifications to alert you, over home speakers, where the fire is centered and how best to get out. In a situation where split-second decisions can prove life-changing, smart tech is a powerful safeguard for homeowners and their families.

Words of warning

Of course, when it comes to security, smart home tech presents one brand-new vulnerability that homeowners of the past never had to worry about. It may sound odd to consider, but the threat of home hacking is a real danger in a world where locks, smoke alarms, and other fixtures are all internet-enabled. The cat burglar of today may scope out his victims with a laptop or smartphone in hand, ready to attack with malicious software designed to disable home security or just harass and annoy homeowners by disabling appliances and lights.

Fortunately, safeguards against smart home hacking are similar to the ones we already take while online. Expert studies of security flaws found some fixes that ought to be familiar to anyone used to performing a basic cybersecurity routine. Two-factor authentication, strong passwords, and keeping up with regular security updates can keep smart home tech safe from malicious forces both online and in person. While most of us are probably new to downloading security updates to our door locks, the benefits of smarter control over home safety easily outweigh such a relatively minor inconvenience.

Convenience and novelty aren’t the only reasons smart homes have become attractive to buyers in the past decade. The above security features empower homeowners today to take greater control over the sanctity of their property, even when they’re thousands of miles away. For keeping your possessions, your home, and your family safe, smart homes present the next step in control over what happens to our homes. While this new opportunity does admittedly create its own new challenges, the benefits should entice anyone looking to fortify their castle, no matter what size. In the future, we can certainly expect homeowner buy-in — and investor interest — to grow.

Originally published on Medium

By |2020-02-11T15:19:07+00:00November 6th, 2019|Technology|

Cable is Dead, Long Live (Streaming) Cable

It’s no secret that cable is on its way out. Ever since Netflix’s sparked an explosion of public interest in streaming entertainment with its 2013 series hit House of Cards, traditional channels of access — cable, satellite, dish — have been rendered all but obsolete.

According to reports published by Leichtman Research Group, a firm that centers its research and analysis in the media and entertainment sectors, the six most popular cable companies lost a whopping 910,000 video subscribers in 2018. Satellite TV and DirectTV services fared even worse — analysts estimated that the former lost around 2,360,000 subscribers and the latter 1,236,000 that same year. The sharp decline isn’t new, either; LRG researchers believe that the user base for traditional services has sunk by nearly ten million since the first quarter of 2012. 

Streaming is slowly outmoding cable — except, of course, in cases where cable has managed to latch onto streaming itself. Interestingly, cable’s primary source of subscription growth has been via virtual MVPDs (vMVPDs), or services that offer a bundle of television channels through the internet without providing traditional data transport infrastructure. LRG analysts estimate that roughly four million subscribers have signed on for vMPVD services such as PlayStation Vue, YouTube TV, and Hulu Live. But these services seem more like a speedbump on cable’s decline than an actual stop, a gateway service to help longtime cable enthusiasts transition into a streaming norm. 

Streaming entertainment is the new normal, and any millennial could build a compelling case for why the change is a good one. After all, why would you pay for expensive cable bundles and struggle with limited viewing schedules when you can see your favorite shows and movies on Netflix or Hulu for less than $15 per month? Streaming offers original content at a reasonable price point and — unlike cable — is accessible from wherever an internet connection is available. It’s so popular that new streaming services have begun popping up like weeds. Apple TV+ goes online on November 1st, Disney+ opens for registration in November, and NBC’s Peacock is set to go live sometime in 2020. 

Cable is dying. But will streaming, the reason behind cable’s slow extinction, one day face the same decline? 

Cable is Dead, Long Live (Streaming) Cable

As it turns out, the streaming coup we see today may be just another remix of the same old industry song. 

Consider the now-giant HBO’s humble roots as an example. The service was arguably the first network to offer premium cable and ask viewers to pay a subscription fee — and it launched its experiment in the town of Wilkes-Barre Pennsylvania shortly after Hurricane Agnes hit the area in 1972. The initiative had a rocky start, reportedly losing nearly $9,000 per month as it struggled to lay cable and pay for a microwave link to transmit entertainment offerings from New York City. But the project ultimately paid off in spades, heralding a new era for paid cable television. 

Cable television was new, convenient, and engaging. Its subscribers could view new and exciting content that wasn’t limited by the profanity and nudity guidelines imposed on basic cable programs. Eventually, cable providers began offering bundles to aggregate channels and make accessing paid content easy, convenient, and affordable.  

Sound familiar yet? 

Today, streaming entertainment services offer the same convenience, aggregation, and affordability that characterized cable — but better. Importantly, they also provide channel subscriptions a la carte, a move which cable companies tended to avoid out of concern that it would negatively impact subscription numbers

When giants such as Netflix, Hulu, and Amazon Prime claimed dominance over the market, streaming seemed like the answer to all of cable subscribers’ problems. However, as more niche entertainment stream providers enter the field, we appear to be falling back into cable’s old woes. 

Today, viewers have over 300 streaming video services to choose from, each with their own subscription price. Many host original content, knowing that high-quality and exclusive offerings attract subscribers. According to one recent study from Deloitte, 57% of paid streaming users — and 71% of millennial users — report subscribing to access original content. However, users’ willingness to pay for content has its limits. As Deloitte’s researchers put the matter: “nearly one-half (47 percent) are frustrated by the growing number of subscriptions and services they need to piece together to watch what they want. Forty-eight percent say it’s harder to find the content they want to watch when it is spread across multiple services.”

Consumers don’t want to make a patchwork out of their streaming services to get the content they want. The fragmentation and consumer difficulty we face now is likely to intensify, given the sheer number of high-profile streaming platforms set to launch soon. As a result, talk of using bundling as a solution to subscriber frustrations has returned; according to IndieWire, WarnerMedia is reportedly aiming to launch a streaming platform that would bundle HBO, Cinemax, and some Warner Bros. content into one service. It would have a higher price point, too — $16-$17 per month. It seems only fair to expect prices to creep up further as other, competing bundles undergo discussion.  

Digital streaming is, without question, more convenient and better-suited to audience needs for affordable original content than paid cable. Streaming’s coup is a well-deserved one. However, it seems naive to think that the problems consumers complained of with cable — higher prices, annoying bundles — won’t appear as time goes on. 

Cable is dead. Long live (streaming) cable.

By |2020-02-11T15:15:14+00:00October 15th, 2019|Culture, Technology|

NYC Welcomes Tech, But Only If It Helps New Yorkers

New York City is a leading hub for technology and innovation — but you wouldn’t guess it by its most-hyped headlines. Ironically, some of the most eye-catching recent news in the tech sector centers around how the city prevented one of the most influential tech titans from setting the foundation for a Big Tech colony in Long Island City. 

For the short span of a few months, it seemed as though New York was teetering on the verge of supplanting Silicon Valley as a home base for major tech companies. The city had a plan — and a provisional agreement — to host Amazon’s much-courted HQ2 within its borders that many in the tech industry heralded as the start of a new era of innovation and prosperity. During a press conference shortly after the announcement of the agreement, Governor Andrew Cuomo celebrated, saying: “This is the largest economic development initiative that has ever been done by the city or the state or the city and the state, together.”

The agreement certainly had some startling numbers to back it; analysts projects that the deal would generate no less than $27.5 billion in state and city revenue over 25 years with a 9:1 ratio of revenue to subsidies. HQ2 was expected to create roughly 25,000 jobs in its first decade, in addition to the 1,300 construction jobs and 107,000 direct and indirect jobs the building initiative would require. Amazon further promised to launch a tech startup incubator and a new school on its campus, as well as allocate as much as $5 million to workforce development efforts. 

On the surface, the partnership between New York and Amazon was a tech proponent’s dream come true; however, the proposed HQ2 deal faced vehement opposition almost immediately after its announcement. Several protests against the initiative were held in Long Island City in the fall of 2018. By February of 2019, the deal was off. 

Now, New York’s highly-publicized divorce from Amazon’s HQ2 plans could be interpreted as a sign that the city wasn’t interested in supplanting Silicon Valley as a home for Big Tech. However, I would argue that the issue the city had with Amazon isn’t based in bias against Big Tech or tech as a whole, but in concern that Amazon’s presence would come at too high a cost to the people of New York. The city courted the tech giant, perhaps to the point of overreach; all told, the public funds and kickbacks given to Amazon would have totaled close to $3 billion, with the city and state paying the e-retailer as much as $48,000 per job. With that cost, opponents argued, were the “benefits” Amazon offered even worth their price?  

Rejecting Amazon doesn’t mean that New York City is hostile to the tech sector — quite the opposite. The city wants a tech sector, but it wants it on terms that suit the people who call it home, rather than those who run Big Tech’s boardrooms. It seems to be relatively successful in its pursuit of that goal, too: Startup Genome reports that NYC ranks first globally in funding availability and quality in NYC, and the metro region alone received $13 billion in funding in 2018. In 2018, New York’s tech sector represented 333,000 jobs in 2018 and encompassed a full 10% of the nation’s developers

Moreover, it seems probable that the city will continue to serve as fertile ground for tech-center development, given that it currently supports over 120 universities and is ranked first globally for the number of STEM-field graduates produced annually. Those students are likely to stay and contribute, too; tech firms in New York City have the fastest average hiring time for engineers across all U.S. tech ecosystems and offer wages that are, on average, 49% higher than private-sector rates elsewhere. 

Amazon’s failed HQ2 deal notwithstanding, even Big Tech is expanding its presence in the city. This past spring, Netflix put down $100 million for a production hub in Williamsburg and promised to create over 100 new jobs in Manhattan. In late 2018 — around the same time that Amazon was fielding controversy over HQ2 — Google committed $1 billion to create a new Lower Manhattan campus and double its local workforce. Facebook wants to open up shop in Hudson Yard; Apple is reportedly looking for more office space in the city. 

The signs are clear that, despite what the failed HQ2 deal might indicate, New York City wants tech, big and small alike. The city will continue to keep pace, if not ultimately overtake, the Silicon Valley tech scene. Provided, of course, that the tech investment it facilitates supports — and is in turn supported by — its people. 

By |2019-09-23T16:55:59+00:00September 23rd, 2019|Current Events, Technology|

How AR and VR Could Change Tourism in New York

Tourist itineraries in New York City are predictable enough to be b-roll cliche. Tourists are easy enough to spot: they move in flocks through Central Park, take selfies at the Statue of Liberty, stare in awe from their slow-moving tour buses at the Empire State Building, and — of course — purchase “I Heart NYC” t-shirts from overpriced carts. The New York that visitors enjoy is predictable, yes, but also vivid, exciting, and well-packed with familiar landmarks; each new day offers wide-eyed tourists the chance to experience famous sights firsthand.

But what if the tourism experience could span more than a well-walked map of landmarks? What if visitors could peel back the cliches of New York’s touristy exterior and delve into its rich history? Augmented and virtual reality technologies may provide a means to do just that, revolutionizing the way visitors experience both the city and its history.

VR and AR’s entry into the tourism sector isn’t all that surprising, given its growing popularity. Analysts for Goldman Sachs estimate that the market for both will overtake $1.6 billion by 2025. Figures from Statista further indicate that as of 2018, 117 million people worldwide were active VR users — a notable leap from four years before, when only 200,000 actively used the technology. Both AR and VR are well-known for their ability to create immersive digital experiences; they empower consumers to delve into their favorite fantasy gaming worlds, experience movies in near-overwhelming sensory experiences, and even virtually “trial” products before buying them in a brick-and-mortar store. With tourism, virtual- and augmented reality technologies promise to add another layer of immersion to an industry that already centers on creating memorable experiences.

VR Expands Tourism Possibilities

Every pre-planned walk or guided bus tour has its limits. Tourists can’t duck under the metaphorical velvet rope to explore their favorite attractions; they have to stay within set, guide-approved bounds. With VR, those limitations are less constricting, offering virtual access to the tourist without compromising the security of the site itself.

As Dr. Nigel Jones, a senior lecturer in information systems at Cardiff Metropolitan University noted for a recent article for the BBC, VR provides “something that’s more tangible to the [tourist]. They can see where they’re going to go, see what’s happening in that location […] The other advantage is to give people an experience that they can’t do. You could take them to a place that’s off limits — like a dungeon in a castle.”

New York City might be running low on castles, but it certainly has no shortage of historic attractions and digitally-explorable landscapes. Consider Governor’s Island, a popular tourist hotspot that sits just East of the Statue of Liberty. Today, the island encompasses several historical sites and a national park — but centuries ago, it was a seasonal fishing spot for Native Americans and an outpost for English and Dutch settlers. The island’s history is rich — and relatively inaccessible for most tourists. However, recent AR innovations have begun to allow tourists to walk through history as they traverse the island.

Inventing America is one such tourist-centered tool. Made publicly available in 2018, Inventing America uses an AR-powered app to transport visitors into a 17th-century, post-colonial version of Governor’s Island. The app provides users with the opportunity to delve into storylines, characters, and history even as they explore the real-life Governor’s Island on foot. Experiences in the app are inextricably tied to physical exploration, ensuring that the AR game complements and supports, rather than replaces, a tourist’s real-world experience on the island.

Of course, not all VR- and AR innovations are quite so based in game and narrative. Others, like the New York City-based tour provider The RIDE, use VR and AR experiences to provide tourists with more information as they drive past popular city hotspots. The RIDE melds traditional tour bus routes with augmented reality technology; each of its buses sport 40 LCD TVs, surround sound, and LED lights. This structure, the company notes, allows facilitators to provide “deeply researched audio/visual support conveying the history and growth of Manhattan” during their tours, thereby superimposing a tech-powered view of a past New York onto the view tourists see beyond the bus’s windows.

Emerging virtual tools promise to add all-new layers to New York’s tourism experience, sweeping away the tired tropes of tourist cliches — and we will be all the better for it.

By |2019-07-15T20:51:17+00:00May 30th, 2019|Culture, Technology|

How Cities Can Lead the Charge Against Climate Change

The encroaching issue of climate change is one that’s far too massive for one group to handle alone. It’s up to multiple corridors of power to enact the changes that will ensure a safe future for our planet–which is precisely why it’s become such a complicated state of affairs. With two-thirds of Earth’s population expected to be clustered into cities by 2050, it looks to be urban planners who hold the keys to our survival. It’s also a matter of accounting for the damage cities have done on their own: as it stands now, urban centers are responsible for two-thirds of greenhouse emissions.

As a citizen of New York City, I was proud when our mayor announced the city would divest money from fossil fuels. This move was part of a larger movement aimed at hitting the largest producers of greenhouse gases where it hurts and is certainly an important part of the prevention process. But failing to design sustainable lifestyles for all city-dwellers will result in certain ecological disaster, a situation which no amount of money can correct. Creating these lifestyles starts with tackling the two most ripe areas for change: our construction and transportation practices. With the right plans and initiatives, these will be the conduits through which our cities lead the country into a cleaner and more assured future.

Construction

The largest visible representation of urban life, our tall buildings must use energy sustainably and responsibly if we’re to address the climate crisis adequately. This can take several forms, including efficient design that maximizes sunlight, green roofs and outdoor spaces which support the oxygen cycle, reusing water and recycled construction materials. So-called “green buildings” are more than a trendy movement: they’re the frontlines of the fight against rising temperatures.

Efficiency can even work in supertall buildings: Taipei 101 in Taiwan, built in 2011, boasts LEED Platinum certification, the tallest structure in the world to be given this stamp of sustainability. In the midst of a skyscraper boom, cities like New York must take a leadership position in ensuring that while we build to the upper reaches of the atmosphere, we don’t forget about the ground we’re situated on. Earth-friendly building materials like recycled steel and precast concrete can eliminate much of the energy usage that goes into creating these massive structures in the first place, starting their lives off on a sustainable footing.

Transportation

While environmentally conscious building practices are pivotal, an even bigger aspect of taking on climate change is the necessary paradigm shift in the way we get around our cities. Even with a majority of us living in these population clusters, our dependence on pollution-causing automobiles has played a major part in bringing this climate crisis into being. Even electric cars won’t completely save us, as CO2 emissions will stay high regardless thanks to large-scale shipping and aviation transport that can’t run on electricity for the foreseeable future.

For maximum efficiency in sustainable travel, robust public transportation is an absolute necessity. Even zero-emissions cars only carry fewer than a half-dozen people at once, requiring more energy to be expended on transporting fewer people on a daily basis. By designing cities where public transport is a more attractive option, we create communities that aren’t only cleaner, but happier places to live.

It’s an unfortunate reality that many forward-thinking projects will require state and federal approval before cities can get them to the implementation stage. In these and many other areas, it’s our nation’s metropolitan centers where the front lines of the battle against climate change will be staged, but by taking control of the narrative, city planners, local leaders and advocates can spearhead the changes that need to happen. Yes, they’ll need political support in due time, but building and transportation plans in the works are the roadmap for a safe, continued existence.

By |2019-05-30T19:11:47+00:00February 15th, 2019|Technology, Urban Planning|

Getting Real About HQ2

The much-hyped HQ2 sweepstakes has finally come to a close, but many in the winning cities aren’t feeling so triumphant. Two major metros, New York and DC, will play host to the currently-Seattle-based tech behemoth’s newest nerve centers. Here at the upper end of the Northeast Corridor, Amazon’s announced Queens-based plans have come with a great deal of controversy, with local politicos and opinion makers alike voicing real concerns about effects-economic, social, and more-of this new development.  

As a New Yorker who follows the tech scene closely, I’ve heard a lot about HQ2 that doesn’t quite sit right with me. In the interest of lending a street-level perspective to the proceedings, here are 3 facts about the deal that are getting lost in the clamor.

 

Over 12,000 non-tech jobs will be created

Fears of a new Amazon-bolstered NYC tech elite were fed by the reported 25,000 new jobs that the company expects to create with HQ2. In truth, only half of those jobs (still an admittedly large number) will be in tech-influenced positions where salaries can hit the higher six figures. The other half will be in the same support positions you’d find at any large organization: administrative, custodial, and other jobs that can better draw on the diverse talent pool of Queens and the rest of the city. Don’t forget, too, that the city’s minimum wage will be hitting $15/hour by the end of 2018. It seems likely that working New Yorkers of all ages and levels of experience will have a chance to find new professional fulfillment in HQ2.

 

In a city of 8 million, 25,000 is a drop in the bucket

25,000 open jobs is a big number to see on paper, but in a city as big as New York, 25,000 is a pittance. It’s likely that the vast majority of us who don’t normally pass through LIC will see no changes whatsoever. Even if every single job is taken by someone who currently doesn’t live here, that’s hardly an invasion. The announced number is about the equivalent of the enrollment of the city’s six biggest high schools (there are over 120 in Queens alone). Do we stress every year about new graduates flooding the city? This is New York, not Cedar Rapids. We’ve benefitted from a constant influx of talented and smart people since the 1600s, and HQ2’s changes will amount to just one more round of newcomers.

 

Long Island City will change, but that’s nothing new

Make no mistake, if the majority of Amazon-inspired arrivals choose to take up residence close to their new place of employment, Long Island City will see the brunt of the cultural changes. But for a neighborhood that was little more than a courthouse and a few commercial strips (and one lonely skyscraper) only a couple decades ago, Amazon’s move is the cherry on top of a long process of evolution. Few neighborhoods have exploded in popularity like LIC in the past decade-plus, and this was underway well before Bezos and company set their sights on the locale. A tech campus is perhaps befitting the scores of new bars, restaurants and other hotspots in this part of town.

Any worries about Amazon affecting culture ought to be assuaged by the fact that this city always has and always will be changing, tech companies or no tech companies. It’s the people, not the corporations, that make New York City what it is, and I know I’m not alone in saying that no company is big enough to change the Big Apple itself.

By |2019-05-30T19:12:15+00:00December 12th, 2018|Current Events, Technology|

The Tech That Predicted Hurricane Florence

This past September, as Hurricane Florence bore down on the Atlantic coastline, researchers and forecasters were more prepared than ever before to deal with the daunting effects of the upcoming storm. While these destructive forces of nature will never be truly neutralized, cutting-edge observation systems have made predicting their effects, and making people safer, easier than ever. That’s not to say it’s a simple task.

While today’s satellites can predict typical weather conditions fairly accurately, patterns of hurricanes making their way over the ocean are a bit more complicated. Predicting a hurricane’s path is tricky, which is why scientists work hard to gather as much data as possible from each major storm to better predict the next one.

Over the past few decades, however, weather forecasters have been able to rely on the combination of satellite technology, advanced radar systems, and well-designed hurricane aircraft to bring about a clearer picture of hurricane and tropical storm behavior than ever thought possible. Today’s technologies allow researchers and forecasters to track a hurricane’s path and predict its size and force with a remarkably high degree of accuracy.

Up Close and Personal Data Collection

Accurately predicting the path and potential damage of a storm requires some truly up close and personal data collection that’d be far too dangerous for a human to conduct in person. To get the most valuable information available, researchers have a secret weapon about the size of a paper towel roll: the dropsonde. Dropsondes are designed by Vaisala, a company based out of Louisville, Colorado. These appropriately named devices are dropped out of high-altitude planes, directly into the hurricane to gather and send data about the storm to pilots and research labs.

Originally developed by the National Center for Atmospheric Research in Boulder, these tools, formally the Airborne Vertical Atmospheric Profiling System (AVAPS™) debuted in 1997 for operational weather forecasting and atmospheric research efforts.

Dubbed by the National Science Foundation ‘workhorses in hurricane forecasting’ dropsondes can withstand extreme hurricane conditions to provide accurate, useful data. Each dropsonde is relatively lightweight and loaded with sensors. They’re small and efficiently designed, capable of capturing data twice per second in the harshest conditions imaginable.

Released from airplanes straight into the storm, dropsondes fall to the ground quickly, making every second of data collection extremely precious. Developers attach a small parachute to each unit — slowing down the drop rate so the devices can accurately measure temperature, humidity, wind speeds, and other important data points. Back at the research center, scientists can extrapolate all the data to formulate detailed projections, adding to a body of knowledge that will one day predict hurricanes the way we can today forecast a sunny afternoon.

Tracking the Hurricane in real time

During Hurricane Florence, research scientists at NOAA’s National Severe Storms Laboratory were even able to launch high-tech weather balloons into the middle of the hurricane to capture data. Sensors inside the balloon helped scientists monitor Hurricane Florence as it made its way to the shore and transitioned from a hurricane to a tropical depression. This type of technology helps data scientists analyze various conditions before, during, and after the hurricane, track the hurricane’s path, and make accurate estimates and assumptions when building models.

The National Hurricane Center has a formal process in place for forecasting all types of tropical cyclone activity in the Atlantic and Pacific around North America and are responsible for communicating their forecasts every six hours. They use everything from satellites, aircraft, ships, buoys, radar devices, and land-based tools to track hurricanes and predict their paths as accurately as possible. Once a hurricane looks like it will make landfall and is identified as a real threat, it’s closely monitored by the U.S. Air Force and NOAA hurricane craft.

While the storms themselves can’t be stopped, high-tech data collection and analysis can greatly reduce the risk presented by each new storm, and influence building and city planning practices to further protect residents from these incredibly powerful weather systems. This high-tech development, perfected over time, will one day make hurricanes like Florence a much less daunting event. That’s an evolution worth applauding.

By |2019-05-30T19:13:00+00:00October 4th, 2018|Technology|

Taking a Byte Out of Real Estate with Cryptocurrency

Whether it’s a bubble or bona fide, anyone who pays even cursory attention to the financial world can’t deny that bitcoin is a force to be reckoned with. The decentralized digital cryptocurrency, a form of payment comprised of lines of code, entered the mainstream consciousness late in 2017 and has remained a controversial topic.

The currency that’s purely digital whose value rises and falls quite unpredictably has understandably earned many antagonists. But for true believers, bitcoin represents a revolution in money, where power has been wrested from big bankers and into the hands of the people who use it. So what does that mean for real estate, where major, life-changing transactions happen every day?

There’s been a number of quick adapters all over the industry. From the East coast to the west and even across the globe, Bitcoin has come into enthusiastic use for purchasing real estate. To say that these sellers are simply hopping on the newest craze sells a bit short the advantages that bitcoin carries for the property business.

Average people joining the bitcoin revolution enjoy the freedom from financial institutions that cryptocurrency offers. Rather than a credit card where you’re entrusting your money to a network of institutions, crypto is a one-stop shop without third party interests or issuers taking their cut.

This simplicity in moving funds around is a special advantage when purchasing real estate. The ease of movement eliminates the long waiting periods necessary for looping in the banks, lenders, and fee payments that have been part and parcel of real estate transactions for generations. Today’s cutting-edge homebuyer, armed with bitcoin, can close as soon as they find a property they like, as long as they have a seller willing to play ball. Such expediency is an undeniable advantage.

Buyers hoping for privacy will find exactly what they’re looking for with bitcoin and other cryptocurrencies as well. In an industry where secrecy is often a must for major private transactions, the untraceable, encrypted payment enabled by blockchain technology can give anonymous buyers the complete discretion they desire. Blockchain can also cut down on fraud, so even faceless buyers can be held to the same standard of financial transparency as the rest of us when it comes to spending funds.

Some influential names in real estate proclaim to be intrigued by the Bitcoin craze, but when pressed admit they don’t want to tie their own money into crypto. The risk factor in using a currency that’s more like a commodity is simply too volatile for many, and the potential that bitcoin amounts to another risky bubble has left major financial giants steering clear. So where does that leave the average homebuyer?

For many everyday people, buying a home is enough of a major undertaking without adding in the risk of dealing with such a volatile payment method. In a real estate world prone to bubbles in its own right, mixing bitcoin into the equation may well pile on risk to a situation where buyers and sellers would rather minimize, not multiply, potential hazards.

But for those untimid about riding the ups and downs of this craze wherever it may end up, there are worse things you can do with your money than acquire some valuable real estate. With a growing number of agents and sellers using bitcoin to gain an edge on the competition, you may well end up financing the house of your dreams with money that exists only in computer servers. If the unpredictability of cryptocurrency can be held in check in the future, expect this to truly be the beginning of a transformation in real estate.

By |2020-02-11T16:33:35+00:00September 5th, 2018|Technology|

The Big App Pull: NYC Finally Awash in Free Wireless Internet

New York City’s history may be as deep and as complex as its subway system–but that doesn’t mean we should keep our eyes on the past. Of a stunning 8 million residents, too many New Yorkers have been left behind without reliable internet access. Now, both in the subway tunnels and on the streets, spaces shared in NYC have been linked to the rest of the web-bound world.

After enlisting a private company to install and maintain service last year, the MTA finally delivered on a long-held promise: wiring the entire tunnel-bound section of New York’s subway system with 4G connectivity. As a result, all 279 underground subway stations are equipped to fulfill New Yorkers’ web browsing, apps, calls, and texting needs while they ride the rails.

The same private contractor, Transit Wireless, installed free WiFi, giving straphangers multiple options to stay online during their commute. This move was long overdue, and a welcome change for a mass transit system with a variety of issues that have no quick fix in sight. While trains may not be moving at their highest efficiency, riders will at least have a wealth of activities at hand to get through delays. Both this cell hookup and subway WiFi came online well ahead of schedule, a rare but welcome change of pace from the usual transit timeline.

New Yorkers have their well-earned grievances with the subway system as it stands–but there’s no denying that this new internet-friendliness represents a major upgrade. And it’s not the only way the city has allowed for better internet access, as public high-tech connectivity has expanded above ground. Thanks to the new LinkNYC kiosks around the five boroughs, public WiFi covers an increasing number of our city sidewalks as well.

A 21st century take on the payphone, these kiosks offer free “super fast” WiFi, two USB connections for charging on the go, and a built-in phone to make free calls nationwide. 55-inch HD screens on the sides of these kiosks display NYC fun facts, bus arrival times, subway line updates, and advertisements, the last of which provides funding for the project.

A consortium of contractors referred to as CityBridge are responsible for installing and maintaining the units, with the city receiving 50% of gross revenues in return for the street space. While it’s important to always use caution when connecting to public WiFi, the encrypted connection offered by LinkNYC allows users to browse the web with confidence. With over 7,000 of these kiosks projected citywide by 2024, we can expect a city nearly blanketed by high-speed WiFi. This is no small task when covering over 8 million citizens.

Since the payphone system was installed in the early 1900s, New Yorkers have become accustomed to convenient communication no matter where they turn. Now, with most phone calls perpetually within arms’ reach, these new WiFi deployments offer an appropriately modern convenience with no quarters necessary.

Following this disruptive implementation, New Yorkers are already looking to what’s next. With our streets and subways now awash with WiFi, might public EV charging stations be far behind? Perhaps an AI-inflected solution to the delays plaguing underground transit?

In a city that’s always looking for the next big thing, public WiFi has been well overdue and is thankfully now here. For the next big leap forward, whether above ground or below, there ought to be no limit to our thinking.

By |2019-05-30T19:15:39+00:00June 11th, 2018|Technology|

How AI Will Help Build Better Cities

A “smart city,” as we think of it now, is not a singular, centrally controlled entity but a whole collection of intelligently designed machines and functions. Essential aspects of city life like traffic flow, energy distribution, and pedestrian behavior will one day be monitored, understood, and acted upon by smart machines with the goal of improving the way we live. AI has already transformed so many aspects of city life, and one day it may guide an even greater proportion of municipal functions. Here’s a look at just a few of the ways this will happen.

Traffic

Even in a public transportation haven like New York or Chicago, traffic congestion is a major issue. AI can provide a major boost to the work of city engineers, making a drive through the city less of a hassle and reducing the overall time spent on the road. AI can collect and analyze traffic data as it’s happening, and eventually even provide routing solutions for autonomous vehicles.

Not only that, this info can give drivers real-time information on open parking, making the desperate search for a spot downtown a thing of the past. Smart traffic signals that observe and analyze vehicle flow data can keep drivers moving without wasting time at automated red lights. With full integration with self-driving cars, it’s not a stretch to imagine a daily commute happening with little to no input from drivers.

Power

As cities grow, the need for power increases exponentially. One of the most consistent challenges of city management is ensuring that every citizen has their energy needs met, and while green solutions have already made an impact in reducing waste, AI can take the next step in bringing our cities closer to fully self-sufficient energy.

Our power grid is aching for a modern overhaul, and one may just be in store, thanks to smart grid initiatives to bring AI to the application and distribution of energy. The efficiency of a smart machine means that the power of the future will be delivered with less of the waste and redundancy that marks our present grid. The U.S. Department of Energy agrees with the potential of such technology, having made the development of a smart grid an official directive in 2010.

Safety

Artificial intelligence can not only make driving safer, but also improve conditions on the sidewalks and alleyways as well. The city of the future looks to be not only more efficient, but safer as well.

In its best form, AI will allow city officials to better monitor neighborhoods and districts whose problems have historically flown under the radar. Police departments nationwide have already adapted ShotSpotter technology to better crack down on gun crime, with promising results for holistic, community-based solutions to the issues facing urban communities.

While concerns about privacy are valid and important, video surveillance with the proper protocols in place could give police a huge boost in fighting street crime with the help of AI. While such tech is still in its nascent stages, one day in the far-off future police will use intelligent analysis to spot suspicious behavior that may indicate a violent crime about to happen, or follow a suspect through crowds in the city streets. Crack AI researchers are already on the case.

 

If all this talk of AI-infused cities sounds like science fiction, it isn’t. In fact, we in the U.S. have got some catching up to do. Earlier this year, we saw the first rollout of Chinese e-commerce giant Alibaba’s Smart City platform outside of their native country, as Kuala Lumpur introduced their adoption of the AI data-analysis program. While this smart city mostly makes use of the tech for operational tasks like transportation, such a commitment to this forward-thinking tech indicates a future where big cities will welcome AI assistance with open arms.

Cities are often described as the best implementation of America’s melting pot. A huge variety of people, with disparate origins, interests and dreams, all coming together around one principle: that we work better together than apart. Our cities of the future will likely fulfill that promise better and more efficiently than ever imagined, thanks to improvements in efficiency and safety enabled by AI.

By |2020-02-11T16:52:49+00:00May 16th, 2018|Technology|