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How long it takes to break even on smart home upgrades

(TECHNOLOGY NEWS) Smart home features can spruce up any house but when you’re upgrading to these features, where does the spending end and the savings begin?

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pending home sales smart home

Smart home devices are primarily marketed as adding convenience and luxury to your home. They allow you to interconnect your appliances with your smartphone and to monitor and control your utilities remotely. But do smart home devices actually save you money?

Smart devices like speakers and music players are obviously designed to allow you the convenience of playing whatever music you want, wherever you want it. But smart devices that monitor or adjust utilities like heating and water could also save you money on your bills.

Joel Lee over at MakeUseOf has crunched the numbers. He’s published a rundown of the most money-saving smart devices, and how long it will take for the devices to “pay for” themselves.

Smart thermostats are perhaps the most obvious devices for saving you money on utilities. Nest says that their thermostat will save you 13 percent on heating and cooling; ecobee3 claims an even more impressive 23 percent.

Comparing these numbers with U.S. Department of Energy statistics on average household utility costs, Lee calculated that a Nest thermostat will pay for itself in just over two years, while an ecobee3 will pay for itself in just one year.

Rachio is a smart sprinkler device that maintains your lawn watering schedule. It makes sure that the sprinklers turn off on rainy days, conserves water when it’s cold out, and optimizes the watering schedule for maximum absorption.

Rachio claims it can help you cut your spending on water for the lawn by 50 percent. Lee estimates a more conservative 30 percent, but even so, says that the device will pay for itself within 15 months.

Plus, he adds, a smart sprinkler system will also increase the overall value of your home, letting you set a higher price point should you decide to sell it.

Lee wasn’t particularly impressed by LED lightbulbs, pointing out that it will take almost the full lifecycle of the LED bulb to recoup the expense of buying them in the first place. The savings are a bit better, he says, if you compare them to the costs of running incandescent bulbs, and if you skip over the big brand names in favor of lesser known, but also less expensive LEDs.

Lastly, Lee recommends smart moisture sensors. These devices can warn you of leaks, roof damage, and other water damage long before you might notice the effects. If these sensors can give you a heads up on even one potential water-damage disaster, the device will clearly have paid for itself.

It appears that smart home devices could be worth the investment, although it’s important to note that these devices are notoriously insecure. While you may save money on your utilities, one bad hack could easily cancel out these money-saving benefits.

Ellen Vessels, a Staff Writer at The American Genius, is respected for their wide range of work, with a focus on generational marketing and business trends. Ellen is also a performance artist when not writing, and has a passion for sustainability, social justice, and the arts.

Real Estate Technology

Should digital assistants have empathy? Big investors say yes

(REAL ESTATE TECHNOLOGY) Bonding with your digital assistant might be more likely than you expect with ElliQ. The rising numbers of AI assistants have created unique interactions.

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ElliQ assistant

It sounds crazy to think that you could form an actual bond with something like Siri or Alexa, but actually, humans are pretty dang good at forming emotional connections to machines. For instance, a Canadian company threw an entire retirement party for five mail delivery bots. People will use Roombas as a substitute for companionship, not unlike a cat or dog. Humans just seem to enjoy connection – even if it’s with a lifeless robot.

Intuition Robotics is taking this desire for emotional connection a step further by working to create digital assistants that can more easily bond with their human companions. At the moment, their biggest product is ElliQ, a robotic digital assistant designed to bond with eldery users. In fact, according to Intuition Robotics, their average demographic falls between ages 78 – 97.

And ElliQ seems to be doing its job. The company reports that customers interact with ElliQ regularly throughout the day, even holding conversations with the machine, and are more likely to listen to ElliQ’s suggestions, which often include proactive behavior like getting outdoors or eating more vegetables.

By working to create a more empathetic and emotional digital AI, Intuition Robotics has started to discover a whole world of new possibilities. And they’re just getting started, having recently raised another $36 million to continue research.

One of their plans? Combining these empathetic digital assistants with the automotive industry.

Imagine an assistant that could suggest you pull over when it senses you’re getting drowsy, or provide something to talk to during longer drives. Plus, unlike ElliQ, which stays put while you move around, you and the assistant will be together in a car, making it easier for the AI to learn your preferences and habits.

Of course, this is just the tip of the iceberg for Intuition Robotics, which has recently majorly expanded its workforce. A digital assistant that can provide a better emotional connection to humans has a world of possible applications, from nursing homes to elementary schools.

Don’t get me wrong, there are plenty of reasons to be worried about a more empathetic AI – the marketing capabilities alone are something I’m side-eyeing. That said, humans have been befriending vacuum cleaners and we’ve turned out alright, so for now, let’s focus on the positive possibilities that could come with tech from companies like Intuition Robotics.

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Real Estate Technology

What you need to know about no-code vs. low-code (and what each means)

(REAL ESTATE MARKETING) The no-code movement is putting more power in the hands of folks with zero programming skills. So what makes it different from low-coding, and what choice is right for your business goals?

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An overhead look at a person working on a no-code website on a laptop on a desk.

It is tricky to grasp the distinction between no-code and low-code. The two terms are often lumped together, but considering the disrupting influence these ideas have had in the tech world, the modern marketing professional ought to understand the difference if they want to explore this movement for themselves.

Both styles of programming are about expediting the app creation process, and enable the creation of surprisingly sophisticated code for your business without requiring any coding expertise.

Rather than focus on what these two styles are, they are more clearly distinguished by who they are for.

Jason Bloomberg of Forbes put it succinctly: “In the No-Code corner are the ‘citizen developers’ – business users who can build functional but generally limited apps without having to write a line of code. The Low-Code corner, in contrast, centers on professional developers, streamlining and simplifying their work – delivering enterprise-class applications with little or no hand-coding.”

Low-code refers to more complex tools that rely on the user having some understanding of programming to utilize. Stripe, a payment software, is an example of a low-code program, and seamlessly integrates with third party tools. Excel could even be considered low-code, considering how certain actions can be easily automated with some coding and math knowledge. But getting the most out of these programs is a challenge for programming outsiders and newcomers.

Enter no-code – much like Google Translate can help you communicate in a foreign language, the no-code movement is bridging the gap for innovators who have ideas but little to no coding experience.

As the name suggests, no-coders don’t have to learn a language in order to get started building automated processes. With tools like Zapier, creating a program relies on a simple graphic interface rather than written lines of text (which means no typing!)

That simplicity comes with tradeoffs, though. No-code expedites the process of writing more basic apps, and its offerings are fairly industry-specific.

(And just to add another layer of confusion, there are also “hybrids” like that sit somewhere in the middle between no- and low-code.)

You aren’t going to instantly turn into an expert hacker or anything, but if you want to build simple functions, like automated sequences based on incoming emails, no-code is a perfect choice.

All this to say, there are plentiful options in the codeless world for curious people of all skill levels. Yet ironically professional developers may stand to benefit the most from the no-code movement. Having these tools be widely available means potential clients are also able to explore, on their own, how their ideas translate to the app environment.

Or, as creator of MakerPad, Ben Tossell, puts it: “[No-code means that developers] won’t be wasting their time on projects that don’t work. People should have more conviction around the thing they’re trying to build before they speak to the developer.”

The potential for this technology still has yet to be fully unlocked but as it matures and becomes more well known, it’s sure to keep changing the tech game. If you’ve ever been curious about the power of code but are hesitant to spend months studying a programming language, there has never been a better time to dive in.

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Real Estate Technology

Power up your daily checklists and task organization with Macro

(REAL ESTATE TECH NEWS) Got a lot of tasks and lists to organize? Macro lets you streamline your repetitive tasks and checklists with its “powerful checklists”.

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Front web page for Macro, super powered checklists, supercharges your team's processes.

If repetitive tasks and checklists are part of your daily workflows, there’s a new tool, which says it can “supercharge your team’s processes.” Macro is a product that lets you create checklists to document workflows, assign tasks to team members, and automate common actions.

Macro checklists are designed to let you complete various tasks in a single tab. Once you’re signed up, you can view and create all your checklists in the “Library” section. To create a new checklist, you simply select the “Create New” button on the top right.

In the Checklist Editor, you can configure your checklist to fit the process that best works for you. You can build a comprehensive workflow by adding a task-type menu, form, or file upload field.

Macro checklists let you use variables to set up custom fields that will be filled out by anyone who runs your checklist. This helps enable templated actions you can use over and over again. For instance, you can create a variable called “Name”. If you’re sending out a Welcome email for your subscription service, you can add the “Name” variable to it, and the name of the new subscribers will then automatically appear in the email.

After your checklist is ready, you can hit save and start adding automation to your checklist by defining a trigger and its action. For example, you can pre-define which tasks are assigned to a certain team member. So, when a checklist is run, it will automatically be assigned to that person. You can even specify dependencies for each task. If Task A and Task B need to be completed before Task C can begin, they will remain inactive until the dependent tasks are marked as complete.

When your checklist is polished and ready, you can invite people to view or edit it. And, after you start running your first checklist, you can use Macro’s built-in reporting to keep track of your progress and view metrics in the Tracking section. From there, you can see what tasks are completed and which ones are pending. If needed, you can also set deadlines for each checklist and reminders for each task.

Macro also offers templates for common use cases, such as employee and customer onboarding, podcast workflow, and new candidate on-site process. Right now, it is still in public beta so it’s free to use. On the company’s website, it says Macro “will always offer a free version.” However, what features the “free plan” will include aren’t clear, but enterprise plans will be announced soon.

Overall, Macro is easy to use, and it packs a lot of punch in a neat little tool. If you’d like to give it a test drive, you can sign up on the company’s website.

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