Lippo Karawaci inks partnership with Softbank to integrate AI, IoT in real estate. Property developer Lippo Karawaci is partnering with telecommunications firm Softbank Corporation to implement advanced technology solutions for the former’s many real-estate developments in Indonesia.
The publicly listed firm signed on Thursday a memorandum of understanding (MoU) with the Japanese telecommunications giant to implement artificial intelligence (AI), internet of things (IoT) and big data-powered solutions in Lippo Karawaci’s real-estate developments and mobility ecosystems in Indonesia.
John Riady, Lippo Karawaci’s chief executive officer, said the partnership was important for the company as it would enhance customer experience for its residents and tenants, improve security in the company’s developments, and, ultimately, reduce the company’s costs.
He said the company had implemented the technology in its Lippo Village real-estate development in Karawaci, Banten. It would later expand the use of technology to other developments such as Lippo Cikarang, Meikarta, other real-estate developments and mixed-use property spread across the country by the first half of 2020.
IoT in Real Estate
“We can implement AI and IoT in several concrete aspects in our developments, such as security, traffic management and water distribution,” said John during a press briefing in Jakarta.
He further explained that the technology could help the company improve security by adding facial recognition features to its closed-circuit television (CCTV) system, monitor the water-distribution process in its township developments and assess traffic flow and patterns to prevent traffic congestion.
Softbank’s head of global business strategy, Hidebumi Kitahara, said the company was keen to develop the technology in Indonesia to help ingrain technology in people’s daily lives. However, he declined to disclose the investment required to bring the technology to Indonesia.
“We can’t disclose the numbers, but we have enough money [to bring the technology to Indonesia],” he said.
He also said that Softbank was open to extending the partnership with Lippo to other aspects, but declined to go into detail.
On the other hand, Kitahara said the partnership with Lippo Karawaci would help the firm to capture better growth opportunity.
“Indonesia is growing very fast, very big and very powerful, so we believe there will be lots of opportunities that we can capture and do here,” he said. Lippo Karawaci inks partnership with Softbank to integrate AI, IoT in real estate (Riska Rahman, The Jakarta Post)