OUTLOOK 2024: “It Is Crucial To Push Forward On The Adoption, Implementation, And Integration Of Cutting-Edge Technology”

From BrainBox AI’s point of view, the challenges ahead for the placemaking industry will come from balancing economics, regulation, and demonstrating results from its sustainability commitments. With the European Commission’s recent emphasis on corporate sustainability reporting, organizations must now not only integrate sustainable, economically viable practices but also transparently report them. This requirement could impact the allocation of CAPEX, prioritizing compliance and reporting over other urgent needs.

Of course, artificial intelligence solutions are at the forefront of solving these challenges, but the integration of AI technology faces its own set of adoption challenges within the placemaking industry. It is crucial, however, to push forward on the adoption, implementation, and integration of cutting-edge technology – especially considering its key role in making the industry “greener” and aligning with new reporting standards.

The advancement of AI within the retail sector, particularly in its application for efficiency, aligns closely with the new European Commission guidelines on corporate sustainability reporting. These guidelines emphasize transparency in sustainable practices, where we believe AI can play a pivotal role. In the placemaking industry, this translates to operational efficiency in physical buildings, like retail locations and shopping malls – meaning AI’s ability to autonomously optimize energy usage and equipment efficiency not only improves overall organizational performance but also ensures compliance with these evolving sustainability reporting standards.

A fundamental change for the industry, sustainability will become a non-negotiable aspect of placemaking, focusing on reducing carbon emissions, resource efficiency, and environmentally friendly design. Also, the increased integration of AI and other digital technologies enables optimization across areas and segments of a building that were often overlooked, consequently enabling better building management. Moreover, alignment with domestic and international climate action, such as the EU’s 2030 emissions reduction target, and global cooling pledge, two major points at COP28, will be crucial. Naturally, these global efforts will require change at all levels in the placemaking industry to meet these goals.

We recommend considering AI as a vital tool in achieving the industry’s operational and sustainable goals. With the industry’s increased commitment to more net-zero initiatives, it is imperative that placemaking aligns with global sustainability goals and new reporting requirements. AI-driven solutions can help ensure compliance by reducing carbon emissions and optimizing energy efficiency, operational equipment, and processes – bringing the industry a huge step closer to making these goals a reality.

Martin Gruber

Martin Gruber is Director Europe at Brainbox AI