The AI industry's market size is projected to reach$997.77 billion by 2028. That's over ten times more compared to 2021.
In other words, Artificial Intelligence is here to stay and will become the centerpiece across multiple industries in the future.
Although this technology sparked some controversy, mainly because it is thought that AI will render many jobs obsolete, that's not the case.
In fact, AI can help employees work more efficiently and reduce the risk of human error.
AI can save time and money and ultimately help people become more productive. It handles monotonous tasks, leaving room for workers to deal with other, more important matters.
Artificial intelligence can also help companies hire the right employees.
For instance, the top staffing agencies use AI to find the ideal candidates according to a company's needs.
AI can even take over the interview process. Of course, at some point, these companies will want to interview high-level candidates directly.
However, for entry-level positions, tools like Montages can interview candidates without having to rely entirely on HR or management.
Furthermore, AI powers today’s chatbots, which enable the HR departments to spend less time answering basic questions.
In many cases, basic questions can be answered by a chatbot. Chatbots can answer questions in simple everyday language.
In other words, AI does wonders in terms of increasing productivity; hence it's becoming widely adopted in corporate offices.
But it looks like artificial intelligence is also making its way to the coworking scene. That being said, let's take a look at how artificial intelligence can improve your coworking space.
Coworking spaces should, and will, become smarter. The ideal coworking space should produce just the right amount of heat and light, and AI is essential for that.
Also, given that coworking spaces often offer workers the opportunity to come and go whenever they want, it's pretty hard to be cost-efficient.
After all, it's not worth keeping all the lights on and heating the entire space that could hold dozens of people if they're only two or three workers in your office. You can't just turn it off either, for the sake of their comfort.
And when an after-hours conference is in full swing, the air conditioning should not turn off before it concludes.
Through IoT-enabled products, like thermostats, the temperature will automatically be adjusted based on any given circumstance to keep the space comfortable while reducing energy consumption.
Modern coworking spaces leverage ‘responsive’ lighting, which relies on a set of rules to determine which lights should be switched on when someone comes into a room.
AI could also intelligently determine whether someone is reading a book and adjust the light temperature accordingly.
And, to save energy costs, AI can dim or completely turn off the lights when the last person leaves the office after a meeting, for example.
So, you can use AI to reduce energy consumption.
You can also use AI to generate real-time utility and energy usage reports, so you can pinpoint what might cause you to spend more money in upkeep than you need.
Saving money on energy bills can significantly increase your business's profits.
AI also enables you to keep an eye on noise levels, and coworking space managers will be able to easily determine where the quiet spots are.
With enough sensors and a data-driven strategy, AI can help you carefully regulate the flow of water and garbage.
As many businesses have had to move their services online over the past year, personalized communication is becoming increasingly important to meet the unique expectations of each customer.
In addition, AI can help enterprises more accurately predict cash flow and potential delays, supporting both operations and customer service.
In addition to improving customer service, AI also has the ability to easily track orders, report problems, and easily provide credit and refunds as needed. This helps not only customer service but also customer retention.
Artificial intelligence can also help you make informed business decisions.
For companies that experience high fluctuations in usage, customer retention, and booking, forecasting can be challenging. Consequently, there's a risk of experiencing a budget deficit.
By inputting data in predictive AI software, you can have a much clearer look at what the future will look like, thus giving you all the necessary information to make budget adjustments and avoid any potential issues further down the road.
As mentioned earlier, AI will handle tedious tasks to allow employees to focus on something else on their to-do list. This also stands true for the coworking management side of things.
Although it may not seem like much, manually taking care of heating/cooling, lighting, and other basic tasks can take quite a bit of your time and ultimately distract you from other important matters.
Not to mention that artificial intelligence can handle these tasks quicker than its human counterpart.
So why not let it do all of the monotonous work for you?
Moreover, AI can optimize cleaning operations. Due to the occupancy data it gathers, you'll be able to identify hotspots that require more attention.
Thus, cleaners can respond dynamically to cleaning needs based on highly-occupied areas and scheduled requests.
You can also integrate AI-powered chatbots to answer basic questions of potential customers. This way, you'll ease the workload of your help desk department, reduce costs and improve customer satisfaction.
Artificial intelligence can also play a significant role in improving your coworking space's security.
Coupled with Machine Learning and IoT sensors and cameras, you can monitor precisely who comes in, who goes out, and when and get notified right away whenever something out of the ordinary happens.
Furthermore, you could use AI to give certain people access to specific parts of the building without having to deal with any codes, keys, etc. This feature is especially handy if you want to keep certain rooms away from prying eyes.
AI also constantly improves its ability to detect cyber attacks before they even occur, and enables better user authentication when login into networks.
While complicated operational AI applications frequently get the most attention, working in a shared office setting can and should be enjoyable as well.
AI also enables a clever use of audio capabilities, with brands like Sonos leading the way.
So, whether it's a coworking space, a conference room, or an event area, workers can attach audio speakers to their phone and stream via an app, or exchange messages or page their coworkers.
For coworkers who work in separate buildings most of the time, AI can identify nearby workspaces and open networking opportunities.
So AI isn't going to drag us towards a "robot apocalypse." On the contrary, AI can make our working life more human than ever. And by all means, that’s progress.
IoT and AI make everything simply more convenient. Workers can interact with the workspace from the comfort of their own laptops or phones to adjust the temperature, lighting, book reservations, etc.
In other words, AI ensures that workers experience maximum comfort at any given time.
From a business owner's perspective, artificial intelligence eliminates the vast majority of monotonous tasks, thus, reducing costs, saving time, and ultimately improving productivity.
AI is revolutionizing augmented reality and virtual reality (VR).
Today, meeting rooms and shared workspaces can use augmented reality to fill space when face-to-face meetings cannot be held.
Tomorrow, large meetings will be viewed in the sharpest resolution via VR.
Meeting rooms will soon be equipped with 3D projectors and laptops may be upgraded to fully virtualized displays.
All in all, artificial intelligence is a handy tool to keep around your coworking business.
In addition to streamlining your daily tasks, AI can help you make the most out of your coworking space, reduce maintenance costs, improve security, productivity and generally enhance the coworking experience.
You will be able to free up more time from manual activities as AI and IoT increase in popularity and become more polished. This will allow your workers to focus on the community-driven components of coworking.
In other words, artificial intelligence helps you get the bigger picture of how to make rational design decisions that ensure maximum comfort, profitability, and efficient use of space.