Wave City to invest Rs 10 crore in AI, aims at enhancing amenities

Wave City will invest around Rs 10 crore in AI technology to provide top-end security and features to its residents. The proposed investment is expected to set a benchmark in the real estate industry for providing homebuyers with futuristic amenities and security systems. 

The proposed investment would be the most significant in implementing technology and AI in any single real estate project in Delhi-NCR.

"AI is making its way into the real estate industry and is here to stay. The use of artificial intelligence in real estate will streamline the data process, automate mundane tasks, and reduce redundancies, resulting in unprecedented levels of efficiency," CJ Singh, COO, Wave City told Republic.

In terms of property valuation, trend analysis, and price forecasting, artificial intelligence is expected to be one of the most important tools. AI is going to transform the real estate sector by bringing more transparency and accountability related to financial transactions and scaling down the role of real estate agents. Secondly, security and safety which is a huge driving force in real estate buying decision making will also come into play. 

How does Wave plan to transform the Hi-tech City?

Some of the features that will be installed under AI are ATM theft detection, Forensic Identification, Parking Management, Traffic management etc. The company aims to make these investments in the next three years.

Traffic and transportation are the lifeline in any bustling metro. Considering this, Wave City has created an 'Intelligent Traffic Management System', which includes location tracking on buses, and deployment of video analytics for smooth traffic control depending upon its volume. 

Post-pandemic, everyone is looking for a quality life with a work-family-wellness balance, and these have been integrated into many projects across India. But Wave City decided to take a step ahead by integrating AI-led technologies to ensure a seamless lifestyle for its residents by providing cost-efficient, environment-friendly solutions with easy accessibility.

With homebuyers, including Gen Z becoming more conscious of their carbon footprint and the 'Swachh Bharat Campaign', Wave City as a part of future development will be using 'Smart Dustbins' that will send signals to the personnel manning them to clear garbage when they are 80 per cent full. These bins will be mounted on an infrared sensor and a GSM device which will send the signals ahead. This feature will prevent the spillage of trash and maintains neatness and hygiene.

Smart waste management systems, smart lighting, top security facilities including 500 guards and CCTV cameras and an ANPR system for reading and scanning car number plates are also available.