The Word  

Keep checking out the Word to help decipher proptech terminology…

 

ac·cel·er·a·tor

Accelerator: is a fixed-term, cohortbased program that includes seed investment, connections, mentorship, educational components, andculminates in a public pitch event or demo day to accelerate growth.

ar·ti·fi·cial in·tel·li·gence
Artificial Intelligence: is the simulation of human intelligence processes by machines, especially computer systems.

API

Application Programming Interface or API: is a group of protocols, tools, and routines for building and creating software. API specifies how software components should interact.

b·a·s

Building Automation System (BAS): is an intelligent system of both hardware and software, connecting heating, venting and air conditioning system, lighting, security, and other systems to communicate on a single platform.

build world / built world

Build/Built World: is the entirety of construction, real estate, infrastructure, public space, residential, retail, and office buildings that comprise the whole built environment.

build·ing in·for·ma·tion mod·el·ing

Building Information Modeling: is an intelligent 3D model-based process that gives architecture, engineering, and construction (AEC) professionals the insight and tools to more efficiently plan, design, construct and manage buildings and infrastructure.

cloud com·put·ing

Cloud Computing: means storing and accessing data and software over the internet as opposed to your computers hard drive.

co·liv·ing

Co-living: describes residential real estate offerings with communal facilities and shared spaces that move the emphasis away from buying and renting homes. This model aims to strike a balance between individual privacy and community spaces, offering high standards of accommodation with added services to help residents achieve a better quality of life.

con·tech

ConTech: is technological and digital innovations having anything to do with construction.

di·gi·tal graf·fi·ti

Digital Graffiti: The act of creating graffiti art using a computer vision system.

ESG

Environmental, Social and Corporate Governance (ESG): refers to the three central factors in measuring the sustainability and ethical impact of an investment in a company or business.

i·o·t

IoT: Internet of Things (IoT) revolves around increased machine-to-machine communication; it’s built on cloud computing and networks of datagathering sensors; it’s mobile, virtual, and instantaneous connection.
 

ma·chine learn·ing 

Machine Learning: is a type of artificial intelligence which provides systems the ability to adapt, learn, change and improve without the need for human intervention.

m·v·p

M.V.P. (Minimum Viable Product): has the least amount of features possible so that customers’ interest in the product can be understood without fully developing the product.

off·site con·struc·tion

Offsite construction: refers to the planning, design, fabrication, and assembly of building elements at a location other than their final installed location to support the rapid and efficient construction of a permanent structure.

op·en·da·ta

Opendata: is data available to the public that can be freely used, reused and redistributed by anyone.

pre·dic·tive an·a·lyt·ics

Predictive Analytics: the use of statistical techniques such as predictive modeling, machine learning, and data mining to analyze data and make predictions about the future.

prop·tech

Proptech: in its simplest form, is technology related to the Built World.

smart build·ing

Smart Building: is any structure that uses automated processes to automatically control the building’s operations including heating, ventilation, air conditioning, lighting, security and other systems. This infrastructure helps owners, operators and facility managers improve asset reliability and performance, which reduces energy use, optimizes how space is used and minimizes the environmental impact of buildings.

tech·stack

A technology stack (tech stack): is a set of technologies upon which other systems and built and attached to create a single stack experience.

 

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