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Researchers from RIT explore Concepts of Augmented Reality in the fields of Property Management and Real Estate

Researchers from RIT explore Concepts of Augmented Reality in the fields of Property Management and Real Estate
A group of computing researchers from Rochester Institute of Technology (RIT) have partnered with JLL, a Fortune 500 company providing services in commercial real estate to explore the field of augmented reality (AR). The venture is dedicated to come up with AR features applicable within the property management and commercial real estate spaces.

AR research

JLL is a real estate service company that is set to fund AR research to establish their new wing of research and development JLL New Media Research Group at RIT. Their funding will reportedly support a computing and information sciences doctoral student of RIT researching in the said area.

Enhance view

According to experts, augmented reality is an emerging technology that enhances the users’ view of the real world with the help of computer-generated visual information. A prime example of such AR application is the IKEA mobile app, which can be easily accessed via smartphones.

While talking about the AR project, Konstantinos Papangelis, an assistant professor of interactive games and media, explained the concept of ‘hybrid space’ to the media. Papangelis, who is also likely to head the JLL New Media research group, told that the process of overlaying multiple physical environments with arrays of digital information has led to create this hybrid space. He adds that there has been no significant academic research on how hybrid space will relate to real estate as of yet. Hence, he expressed his gratitude and optimism for the novel opportunity that the AR project brings in.

Potential

The primary aim of JLL New Media pertaining to this project is about understanding the potential role that augmented reality can play in both perceived and real value of physical spaces. The researchers are also dedicated to look at the role of AR content in creating brand value as well as driving crucial marketing metrics.

The president of JLL’s Property Management Group Mark Zettl, who is also a RTI alumnus, stated that the company is looking forward to the partnership and is excited to fund the research. He said that JLL is also hoping to utilize RTI’s wide-ranging research on the application of augmented reality in hybrid spaces to elevate their services in commercial real estate and property management. According to Zettl, the company views this research as an opportunity to serve their customers, employees, partners and communities better. He further adds that JLL expects future research findings to help them protect and educate building owners in terms of property management.

Hailey Harrington, the Director of Strategy and Innovation at JLL Property Management also opined that exploring the commercial use of AR and VR technologies would become imperative in supporting landlords to help them understand how to enhance, protect, and monetize their investment in real estate. Therefore, by comprehending these technologies better, the company could provide better advice to their clients.

Funding

JLL is reportedly funding $175000 for the research to support the research group as well as then Ph.D student from RTI for an estimated period of 5 years. For further information regarding JLL New Media at RIT, you may contact Konstantinos Papangelis.

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